Rs 800 crore from LDA coffers for development works in Lucknow – ET RealEstate

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LUCKNOW: Despite a curtailed budget by the Lucknow Development Authority, the city will get Rs 800 crore for development works.

The LDA budget for 2021-22 has been reduced by Rs 300 crore in comparison to last fiscal, but officials said that will not impact the development works as the cuts have been made on maintenance of parking and housing colonies which will soon be handed over to Lucknow Municipal Corporation.

A total Rs 2,342.75 crore has been approved by the LDA board for expenditure in 2021-22, while the estimated earnings will be Rs 2,345 crore from rent and sale of the properties developed by the authority.

Of Rs 800 crore for development work, Rs 442.73 crore will be used for completing housing projects in several areas including Mansarovar Yojana, Prabandhnagar Yojana, Ratan Khand Yojana, Jankipuram Extension, Sitapur Road, Mohan Road and CG City.

A sum of Rs 25 crore has been marked for purchasing land from private players to construct commercial establishments, while Rs 50 crore has been allocated for paying compensation to farmers in lieu of land acquired for developing a township on 1,600 acre land on Sultanpur Road.

The budget has allocated Rs 50 crore for maintenance work in apartments and parks under LDA jurisdiction.

“The budget has been drafted keeping all aspects in mind. Necessary changes will be made later in the budget if our revenue increases,” said LDA finance controller Rajiv Singh.

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Lucknow: Upkeep firms warned over poor facilities in apartments – ET RealEstate

LUCKNOW: No power backup, poor fire tender equipment, paint peeling off walls, no grills on windows, broken tiles and no numbering of flats. These are some of the anomalies found by the Lucknow Development Authority (LDA) officials during a recent inspection of apartments under their jurisdiction.

The LDA has issued showcause notices to the private agencies it hired for the maintenance work in these apartments.

LDA chief engineer Indu Shekhar Singh said, “We have asked the private agencies to complete the work at the earliest, failing which legal action will be taken against them.”

The development authority has so far conducted inspections in Srishti Apartment in Jankipuram Extension and Smriti Apartment and Sunrise Apartment on Kanpur Road. According to officials, several apartments in Gomtinagar, Gomtinagar Extension, Hardoi Road, Rae Bareli Road and Kanpur Road will also be inspected.

District magistrate and acting vice-chairman of LDA Abhishek Prakash recently visited Shristhi Apartment on the request of locals. During the inspection, residents complained about no power backup, resulting in blackouts for several hours. They said an elderly resident died in the intervening night of September 8 and 9 after suffering an heart attack as he reportedly could not be taken to a hospital on time as the lift was dysfunctional. The problem still persists, they claimed.

The VC was also made aware of the poor condition of road in the basement of the apartment. He asked LDA zonal officials for conducting the maintenance work and promised to make provisions for installing generator in the apartment.

In another inspection of Sunrise Apartment on Kanpur Road, officials found incomplete fire tender equipment, broken tiles and paint peeling off the walls.

“The possession process of the apartment started in 2010. After five years of the completion, condition of the apartment started deteriorating. There are no proper fire tenders and even flats have not been numbered till now,” said Utkarsh Awasthi a resident.

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Lucknow development body sells over 100 apartments in December 2020 – ET RealEstate

LUCKNOW: The Lucknow Development Authority (LDA) has sold over a hundred flats in December month which was almost 50% of the total flats or housing units sold by the authority in 2019.

The achievement has come as a boost to LDA which has been reeling under financial crisis since lockdown.

As per LDA records, as compared to 211 flats in 2019, LDA sold 275 units in 2020, including 105 in December.

Flats sold last month were in Jankipuram Extension, Sitapur Road, Kanpur Road and Sultanpur Road. Most of these units were under middle (63 flats) and lower (28) income groups. Nine flats were in the high income group.

LDA collected Rs 6.3 crore as registration money of 105 flats while the total revenue would be Rs 27 crore when all the payments are made.

LDA officials said sales were low in the first 10 months due to Covid-19. As incomes dropped, people were not willing to make investments.

However, buyers are now coming forward, which indicates that people are confident about economic revival.

“There is a feeling among lower and middle classes that money will grow more if invested in property,” a senior officer said, adding that people were investing in LDA flats as they were cheaper than the ones being offered by private players.

District magistrate and acting vice-chairman of LDA, Abhishek Prakash, had also given targets to engineers to sell flats/housing units in vacant housing projects in December with the promise for award to those who meet targets.

To increase the sale of housing units in future, LDA has decided to introduce a single-window system wherein buyers will not have to run around to complete formalities.

“At present, if anyone has to purchase a unit, he needs to visit LDA headquarters or zonal office several times for registration and payment. However, in a single-window system, each engineer will be given the task to ensure the registration work is done right after the buyer finalizes the unit,” Prakash said.

Currently, LDA has more than 3,500 vacant flats in its several projects in Jankipuram Extension, Kanpur Road, Sitapur Road and Gomtinagar Extension, among others.

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Lucknow development body to offer Rs 6 lakh discount on its flats – ET RealEstate

LUCKNOW: Lucknow Development Authority has announced discount upto Rs 6 lakh on flats in its Devpur Para project. This is being done to attract more buyers.

The flats are available in two categories — three bedrooms, and three bedrooms plus kids room. While the original cost of three bedrooms constructed at 95.96 sq metres is Rs 37 lakh, the new price for the unit is around Rs 31 lakh. Similarly, flat with three bedrooms plus kids room constructed at an area of 90.87 sq metres will cost Rs 29 lakh. Its earlier price was Rs 35 lakh.

LDA recently completed the construction of 1,600 flats in the project, while 1,000 flats are yet to be built. The registration for flats was opened in 2015.

LDA chief engineer Indu Shekhar Singh said allottees who have registered since 2015 will also be given the flats on the revised price. Buyers who have paid the full amount for the flats will be returned the additional amount, he added.

In November 2019, LDA had given discount upto 10% in its several housing projects in the city exclduing the Devpur Para since it was not ready then.

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