Rs 19,000 cr investments: Noida & Ghaziabad's rise as UP's homebuilding hubs explained
Noida and Ghaziabad attracted significant real estate investment in Uttar Pradesh. These two districts accounted for sixty-one percent of the state's total investment. They are also expected to add nearly twenty-three thousand new housing units. Lucknow registered more projects but attracted less overall investment. Infrastructure development and proximity to Delhi fuel this continued dominance.
In the first half of the year, Uttar Pradesh saw the highest real estate activity in the National Capital Region (NCR), with Noida and Ghaziabad attracting 61% of the state's total investments, according to the UP-Rera's half-yearly report. A total of 143 projects worth Rs 31,952 crore were approved across the state, with 27 projects in Noida and 19 in Ghaziabad, which together attracted investments of nearly Rs 19,000 crore.
These two districts will also add around 22,660 housing units, accounting for 49% of all homes approved in Uttar Pradesh.
Noida and Ghaziabad remain the state's biggest real estate markets in terms of projects, investment, and housing supply, despite having fewer projects compared to Lucknow. Lucknow recorded the highest number of registered projects at 37, attracting investments of Rs 3,834 crore and accounting for 9,872 housing units. The official attributed the dominance of Noida and Ghaziabad to their proximity to Delhi, which makes them attractive to pan-India homebuyers.
Improved connectivity, including expressways, metro rail projects, industrial corridors, smart city programs, and urban rejuvenation schemes, have boosted demand in Noida and Ghaziabad, making them attractive for real estate investments. UP-Rera chairperson Sanjay Bhoosreddy noted that the report reflects growing confidence among homebuyers and investors, as well as the transparent and accountable real estate sector in the state due to development-oriented policies and the UP-Rera's efforts.
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