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LDA readies bonanza
THE LUCKNOW Development Authority (LDA) has decided to give private real estate developers a run for their money by launching two new upmarket group housing projects as part of its Diwali bonanza for the customers.
THE LUCKNOW Development Authority (LDA) has decided to give private real estate developers a run for their money by launching two new upmarket group housing projects as part of its Diwali bonanza for the customers.
“The multi-storey group housing projects that would come up in our Gomti Nagar Extension Housing Scheme would be equipped with utlra-modern facilities. The building plans are still on the drawing board and would be unveiled on the occasion of the festival of lights,” said LDA vice chairman BB Singh.
“Apart from these apartment blocks, we also intend to launch two new housing schemes, one on Kanpur Road and another in our Hardoi Road Housing Scheme,” said Singh. He said, land for both schemes had been identified and pre-launch preparations/ development work was underway.
To a question that housing-wise LDA hardly enjoyed high reputation in the market, the LDA VC said the projects were demand-based. “We would not go-ahead if we did not receive a good market response. But such a situation would not arise, as LDA would be offering flats at competitive prices,” he said.
Had it been so, the LDA would not have sold over 1,000 plots in the past two year, he pointed out, adding that the lottery draw for two of its most popular scheme, Vibhor and Vinayak Khand in Gomti Nagar, was scheduled to be held in November.
To buttress his claim, Singh said the development agency was offering a three-bed room flat on 2,150 square feet of prime land in Awadh Apartment in Gomti Nagar for Rs 28 lakh.
“This, when flats built on an area of 1,500 to 1,600 square feet are being sold for Rs 35-40 lakh by private builders in Vibhuti Khand, which is even further off the Awadh Apartment,” he pointed out.
