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.