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Housing board slashes flat prices by 5-10%
Around 4,000 flats of the board lying vacant in the state capital
Around 4,000 flats of the board lying vacant in the state capital
LUCKNOW The UP Housing and Development Board on Monday decided to reduce prices of its flats in Lucknow by 5 to 10%. Later, the flat prices would also be slashed across the state, said officials.
At present, around 4,000 flats of the board are lying vacant in the state capital.
“The board has decided to cut down prices of its flats by 5 to 10%. Around 4,000 of its flats are lying vacant in Lucknow,” Ajay Singh Chauhan, commissioner, Housing Board, told media persons after the board meeting. As many as 67 proposals were passed at this meeting.
“There will be no one-time payment of the entire cost and 5% additional rebate will be offered to home buyers,” he added.
Last year, the Lucknow Development Authority (LDA) had also slashed prices of its residential and commercial properties. But, this price cut was applicable in Gomti Nagar and Gomti Nagar extension.
The price cut was from 8 to 15% for residential properties and from 27- 62% for commercial properties.
A large number of flats and commercial properties of the LDA and Housing Board are lying unsold across the city. And these properties are adding to their financial stress.
The Housing Board has also decided to construct a convention centre at its Awadh Vihar project. This centre will come up near Awadh Shilp Gram on Shaheed Path. It will have a seating capacity of 5,000 and Rs 250 crore has been earmarked for the project.
“This convention centre will operate on public private partnership (PPP) model,” said Chauhan.
5% addl rebate
“There will be no one-time payment of the entire cost and 5% additional rebate will be offered to home buyers,” said Ajay Singh Chauhan, commissioner, Housing Board.
Last year, the Lucknow Development Authority (LDA) had also slashed prices of its residential and commercial properties. But, this price cut was applicable in Gomti Nagar and Gomti Nagar extension.
