Real Estate (regulation And Development) Act

UP RERA approves six projects worth ₹864 crore across five districts

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) said it has approved six new real estate projects involving a proposed investment of Rs 863.94 crore across five districts of the state. The approved projects, spread across Bareilly, Kanpur Nagar, Noida, Lucknow and Varanasi, will together develop around 1,470 residential and commercial units, UP RERA said in a statement. According to the authority, Bareilly received approval for two projects, while Kanpur Nagar, Noida, Lucknow and Varanasi were each cleared for one project. The highest proposed investment is in Noida at Rs 444 crore, followed by Kanpur Nagar at Rs 173.64 crore, Lucknow at Rs 136.94 crore, Bareilly at Rs 60.42 crore for its two projects, and Varanasi at Rs 48.94 crore. Most of the projects are residential, while those in Lucknow and Noida are commercial. "The distribution of projects reflects balanced real estate growth across the state and growing investor interest in different regions," UP RERA said i

DLF to invest Rs 20,000 crore in commercial real estate expansion

Real estate major DLF plans to invest around Rs 20,000 crore in the medium term to develop commercial properties, including office and retail spaces. In a corporate presentation uploaded on stock exchanges, DLF shared the growth strategy of its rental business. "Significant growth capex being committed for growth," the company said, adding that an incremental capex of around Rs 20,000 crore is planned in the medium term. These commercial assets will be developers in parent DLF Ltd and also in joint venture firms including DLF Cyber City Developers Ltd (DCCDL). In its annuity business, DLF has a strong operational portfolio of around 44 million square feet of rental assets, with high occupancy levels of 93 per cent. The portfolio is set to reach 73 million square feet in the medium term. The DCCDL, a joint venture between DLF and GIC, holds the bulk of rental assets of the DLF group. DLF has a 67 per cent stake in the JV firm. "High quality owned land bank available for sustainabl

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Facing liquidity issues, big realtors eye new development management models

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