UP Bags Over ₹50,000 Cr Investment Pledges at Bengaluru Roadshow: Tech Hubs & Real Estate Set to Boom

By Business Bureau

New Delhi Chronicle

BENGALURU: In a major boost to its trillion-dollar economy ambitions, the Uttar Pradesh government successfully bagged investment proposals worth over ₹50,000 crore during its high-profile Global Growth Dialogue investor roadshow held in Bengaluru.

Led by Chief Minister Yogi Adityanath, the state delegation made a compelling pitch to tech giants, real estate developers, and multinational corporations. The roadshow resulted in more than 15 companies signing Memorandums of Understanding (MoUs) spanning private industrial parks, Global Capability Centres (GCCs), electronics manufacturing, and infrastructure logistics.

Major Real Estate and Infrastructure Pledges

The mega event saw massive commitments from India’s top real estate and infrastructure players. Leading the pack, the Prestige Group made the single largest commitment with a ₹15,000 crore pledge. Blackstone-backed Horizon signed a ₹10,000 crore MoU dedicated to developing industrial parks.

Additionally, Embassy REIT and Raheja Mindspace REIT committed ₹5,000 crore each, while Sattva Developers pledged ₹4,000 crore. Shriram Properties also signed a strategic agreement to build private industrial and business parks across Uttar Pradesh.

Pivoting to Tech: The Rise of GCCs in UP

Signaling a strategic shift from traditional manufacturing toward high-value, tech-driven employment, the state actively pitched itself as India’s next major hub for Global Capability Centres (GCCs).

Global giants including LG, Aon, MetLife, and Table Space signed MoUs to explore establishing GCC operations in UP. To support this tech migration, TeamLease entered into a non-financial agreement to develop a highly skilled talent pipeline tailored for GCC-linked industries.

To anchor these initiatives, the UP government has already notified its dedicated GCC Policy and allocated a ₹100 crore fund in the current budget under its Incentive Policy to attract FDI and Fortune 500 companies.

Which Real Estate Markets Will Benefit?

The influx of corporate commercial spaces and high-paying jobs is projected to significantly drive up property values and rental yields across key micro-markets over the next 24 months:

• Noida (Sector 150): Driven by proximity to upcoming business parks, residential prices (currently averaging ₹9,500 to ₹12,000 per sq. ft.) are projected to appreciate by 8% to 12%.

• Yamuna Expressway: Plot prices (currently ₹28,000 to ₹40,000 per sq. yd.) are expected to see a sharp 12% to 15% upside, heavily accelerated by the upcoming Jewar International Airport and adjoining industrial zones.

• Lucknow (Gomti Nagar Extension): Spurred by the emerging IT/ITeS and GCC footprint, average residential property prices (₹6,800 to ₹8,500 per sq. ft.) are tipped to rise by 10% to 14%.

• Varanasi (Kashi IT Park Zone): Rental demand is forecasted to surge by 9% to 11% as tech firms set up satellite offices.

• Kanpur Industrial Belt: Expected to see a steady 6% to 8% capital appreciation driven by heavy logistics and manufacturing investments.

Government Backing and Global Outreach

The UP government is backing this investment pipeline with aggressive budgetary allocations, including ₹5,000 crore for the Mukhyamantri Industrial Area Expansion Scheme and ₹2,000 crore for the Atal Infrastructure Mission.

Looking ahead, state officials are aiming even higher. Aligning with the global “China Plus One” strategy, Uttar Pradesh is planning a series of international roadshows across Singapore, Japan, South Korea, the UAE, Qatar, and Canada. This will be followed by domestic roadshows ahead of the fifth Ground Breaking Ceremony (GBC-5), where officials estimate cumulative investment realizations could target between ₹5 lakh crore and ₹10 lakh crore.