Ghaziabad: Noida and Ghaziabad continue to dominate the state’s real estate market, accounting for 61% of the state’s total investment in the first half of the year, according to UP-Rera’s half-yearly report.Of 143 projects worth Rs 31,952 crore approved across the state, 27 are in Noida and 19 in Ghaziabad, a UP-Rera official said.Together, the two districts attracted investments of Rs 19,000 crore — Rs 15,678 crore in Noida and Rs 3,989 crore in Ghaziabad — and will add around 22,660 housing units, or 49% of all units approved statewide. Of the total, Noida will add 13,160 units and Ghaziabad 9,500.Lucknow recorded the highest number of registered projects at 37, drawing an investment of Rs 3,834 crore and comprising 9,872 units, according to the data.“In terms of number of projects, investment and total number of units, GB Nagar and Ghaziabad are way ahead of other real estate hubs in the state, which is an indication of sorts that the two districts continue their dominance in the state,” the official said. This is when Lucknow led in project count with 37 registrations.“GB Nagar and Ghaziabad, by dint of their proximity to Delhi, cater to pan-India homebuyers, which explains more investments despite fewer projects as compared to Lucknow,” the official added.Ashish Kumar, a real estate watcher, attributed the performance of GB Nagar and Ghaziabad to large-scale infrastructure initiatives. “Expressways, metro rail projects, industrial corridors, smart city programmes and urban rejuvenation schemes have significantly improved connectivity and liveability, making both major cities and emerging urban centres attractive for real estate investment,” he said.UP-Rera chairperson Sanjay Bhoosreddy said the half-yearly report reflected growing confidence among homebuyers and investors, not only in NCR but across the state. “This is also a result of development-oriented policies of the state govt and UP-Rera, which have made the entire ecosystem transparent while at the same time have brought accountability and timely delivery in the real estate sector in the state,” he said.
