Lucknow development body to build rental flats for outstation students – ET RealEstate

LUCKNOW: Lucknow Development Authority (LDA), which till now used to build and sell housing units, will soon also develop rental apartments on public private partnership (PPP) basis.

The first such 13-storey apartment block will come up in Aishbagh for which LDA has identified over 10,400 square metres of land.

Officials said that each flat will consist of an attached bathroom, ventilated bedroom, balcony and a kitchen. The rent will be around Rs 5,000 per month. The target group is students who come to the city from various parts of the state and country, besides single persons employed here.

LDA chief engineer Indu Shekhar Singh said, β€œThe tender for construction work of the apartment will be finalized on Saturday. This will be the first time that LDA will rent out flats after construction. Around 150 1 BHK flats will be constructed with an estimated cost of Rs 163 crore. The deadline is January 2022,” he added.

The development authority will invite architects and builders to submit their designs and layout maps for the construction work. In the presentation, developers will have to explain the design of the rental complex along with its financial model.

LDA will provide the land to the builder, while construction will be done by the promoter.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *