India News

UP’s real estate sector poised for a boom with Rs 50,000 crore investment

Lucknow, Feb 29 (IANS) – Uttar Pradesh is set to witness a substantial boost in the real estate sector with the launch of projects worth over Rs 50,000 crore during the recently held Ground Breaking Ceremony (GBC 4.0), which will also generate a significant number of job opportunities for the state’s youth.

Many prominent real estate firms, both domestic and international, have begun their projects in Uttar Pradesh. M3M India Private Limited is investing Rs 7500 crore to develop residential, commercial, official, retail, and service apartments, creating over 14,000 job opportunities.

Abhinandan Lodha House has initiated a luxury residential and commercial real estate project in Ayodhya with an investment of Rs 3000 crore, expected to create over 100 job opportunities. The largest investment of Rs 1250 crore comes from the Sharaf Group for establishing a logistics park in Moradabad district, generating over 1250 employment opportunities.

In addition to real estate, the logistics sector in Uttar Pradesh will offer numerous employment opportunities to the youth, as several leading companies in the sector have launched projects in the state through GBC 4.0. The Yogi Adityanath government has approved the Warehousing and Logistics Policy to increase the state’s storage capacity, offering fast-track land allocation for logistics parks and promoting the development of logistics zones.

IANS

IANS, established in 1986, is India's largest independent news service, offering 24x7 news from India and South Asia, and a preferred source for diverse content across six business verticals.

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