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Prayagraj to experience real estate development boom in the coming years

Prayagraj's real estate market is projected to experience significant growth as plans have been made for investments of roughly Rs 4,000 crore. Over the course of the next five years numerous real estate firms will begin development on at least 29 different housing projects in and around Sangam City.

According to the applications the Prayagraj Development Authority (PDA) has received, the projects include a large educational facility in the Jhalwa area. According to PDA secretary Ajeet Kumar Singh, all recommendations will be included in the upcoming U.P. Global Investors' Summit scheduled to take place in Lucknow from 10-12 February 2023.

According to officials, the Vinayak Group has suggested a project of Rs 595 crore while the Sai Dham Group has promised to invest the biggest sum of Rs 700 crore for seven projects in the housing schemes. A 500-crore project has also been suggested by real estate developer Omaxe Limited and Goyal Housing has also agreed to invest Rs 420 crore. A 380-crore project has also been suggested by the Paras Group. Authorities with inside information claim that the ten different real estate firms' proposals have been posted on the PDA website.

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