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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RLDA to complete Gomti Nagar railway station redevelopment by Dec 2022 – ET RealEstate

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The redevelopment of the Gomti Nagar Railway Station in Lucknow will be completed by December 2022, according to the Rail Land Development Authority (RLDA).

Station redevelopment has two phases – mandatory station development and commercial development with a total construction cost of Rs 190 crore and Rs 170 crore, respectively.

According to RLDA, about 10% of the commercial space has already been booked by retail players.

Presently, out of two commercial towers – Block R1 and Block R2 as a single unit with a combined built-up area of 4,53,000 sq. ft. are being auctioned with some units having been already sold 15-20% above the reserve price.

The station is being jointly redeveloped by Rail RLDA, in partnership with NBCC, on an EPC mode.

“We are enthused by the overwhelming response garnered in the Gomti Nagar project. The redeveloped station will enhance the travel experience, boost tourism and real estate and have a multiplier effect on the local economy. The entire project is slated to be completed by December 2022, while the station is likely to be upgraded earlier” said Ved Parkash Dudeja, Vice Chairman, RLDA.

The Railways has around 38 acres of the land parcel at the Gomti Nagar railway station, out of which eight acres is being utilised for both station redevelopment and retail and commercial development.

The average lease price is pegged at Rs 6,625 per sq ft for Block R1 and Rs 5,900 per sq ft for Block R2. The proposed commercial development of the railway station will be leased for 60 years and is located in the vicinity of luxury apartments, high-end commercial spaces and a five- star hotel.

Gomti Nagar Railway terminus (GTNR) is an under-construction railway station situated on Barabanki-Lucknow Suburban Railway in Lucknow, Uttar Pradesh. It has excellent connectivity to other parts of the city via the main arterial road of the city called Shaheed Path. The property has frontage on the main road of the Vibhuti Khand, Gomti Nagar that is developing rapidly as a commercial and retail hub.

To complement the redeveloped Gomti Nagar station and for efficient utilization of the office and retail space thus generated, RLDA is in advanced stages of bidding out an additional 5.5 acres of land earmarked for residential development on a 99-year lease period.

The residential development will introduce a Walk to Work concept and will be most utilitarian keeping in view recent retail development in Gomti Nagar area.

RLDA and IRSDC are currently working on 123 stations in a phased manner In the first phase, 50 stations such as New Delhi, Mumbai CST, Amritsar, Sabarmati, Gwalior Gomti Nagar, Tirupati, Dehradun, Nellore, Puducherry, Ernakulam Jn. have been prioritized for redevelopment. The railway stations across India will be redeveloped on a PPP Model as a part of the Smart City Project launched by the Government of India.

Rail Land Development Authority (RLDA) is a statutory body under the Ministry of Railways for the development of Railway land. It has four key mandates as a part of its development plan, namely leasing of commercial sites, colony redevelopment, station redevelopment and multi-functional complexes.

Currently, the Indian Railway has approximately 43,000 hectares of vacant land across India, of which RLDA has over 92 commercial (Greenfield) sites across India for leasing to the eligible developers after selection through an open and transparent e-bidding process. RLDA is currently also handling 84 railway colony redevelopment projects and has recently leased out a railway colony in Guwahati for redevelopment.



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Uttar Pradesh cabinet paves way for tenancy ordinance – ET RealEstate

LUCKNOW: The cabinet on Monday cleared the decision to bring in the Uttar Pradesh Regulation of Urban Premises Tenancy (second) Ordinance 2021.

The provisions of the ordinance will lead to reduction in tenancy disputes and in older cases, rents can be revisited.

Once the ordinance is promulgated, signing of contract will become compulsory to rent out a property. This will safeguard the interests of both the property owner and the tenant. The ordinance has made provision for a rent authority and rent tribunal to resolve disputes. These bodies will be tasked to resolve issues within 60 days.

Currently, there is no clear mechanism for conflict resolution under the present law and matters have been pending in court for years.

Keeping in mind the present and future demands of tenancy, the government had decided to replace the UP Urban Buildings (Regulation of Letting, Rent and Eviction) Act, 1972. On January 9, 2021, the Governor had promulgated the Uttar Pradesh Regulation of Urban Premises Tenancy Ordinance 2021. This was implemented in the state on January 11, 2021, but since the assembly was adjourned indefinitely due to unavoidable circumstances, the Bill could not be passed and therefore an ordinance is being brought.

The cabinet also cleared a proposal for setting up Uttar Pradesh State Institute of Forensic Sciences in place of the Uttar Pradesh Police and Forensic Science University. The decision, said an official, was made in pursuance of a Central Government advisory to states to set up institutes and affiliate them with a single university, the National Forensic Science University.

“Instead of multiple universities giving different degrees, now all degrees will be issued by one university. The National Forensic Science University has two campuses, one in Delhi formed by merging the National Institute of Criminology and Forensic Sciences and National University, and the other in Gujarat,” said an official.



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Lucknow civic body to give 5% off on property tax to women home owners – ET RealEstate

LUCKNOW: The Lucknow Municipal Corporation (LMC) on Sunday decided to give 5% concession in the fees charged for a new water connection to women applicants as well as registration for property tax if the house is in her name. It has also decided to provide free service to women in all the 86 pink toilets being constructed by LMC.

These decisions were taken in the historic all-women House meeting on Sunday on the eve of International Women’s Day. It was attended by 35 women corporators and chaired by mayor Sanyukta Bhatia, who is also the first woman to be elected to this office.

The meeting also decided to name a city park after Chhatrapati Maharaj Shivaji’s mother Jijabai. Similarly, three prominent intersections in the state capital will be renamed after women freedom fighters or queens.

Unlike the traditional house meeting of the civic body, which is often marked by pandemonium, the special all-women session went smoothly. Corporators also placed some proposals for the welfare of women.

The mayor said, “The proposals given by corporators will be put up in the upcoming executive committee.”

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