LMC mulls utilising its land bank to tide over financial crunch
Despite being the owner of several hectares of land in the city - both in prime locations and the outskirts - the Lucknow Municipal Corporation (LMC) continues to struggle for funds.lucknow Updated: Aug 20, 2013 11:09 IST
Despite being the owner of several hectares of land in the city - both in prime locations and the outskirts - the Lucknow Municipal Corporation (LMC) continues to struggle for funds.
Now, the corporation is planning to utilise its land bank to raise funds and end its financial crisis.
Municipal commissioner Rakesh Kumar Singh said, “For the first time, a proposal for commercial use of corporation land was included in the agenda of the LMC house on Sunday.”
The LMC has more than 60 hectares of land at prime locations of the city besides several more hectares in the outskirts, which is more than the land bank of the Lucknow Development Authority and Housing Board put together.
“A proposal was made to use about 5.5 hectares of land behind Omaxe city, which is a key location. Besides, there is around 12 hectare land near Madiaon, 2.9 hectare near Haiwatmau Mawaiyya, 4.1 hectare near Aurangabad Jageer, 1 hectare near Kharika, around 7 hectare near Amausi and around 12 hectares near Kamta, Gehru, all of which can be considered for the purpose,” said Singh.
However, the house has decided to identify and fence the land in the first phase, he added.
“A board of LMC would be erected on all the land pieces. After this, a comprehensive plan for commercial use of these properties would be made,” he said.
According to the proposals, LMC can go in for public private partnership with builders, developers or colonisers for the use of this land bank.
Mayor Dinesh Sharma said, “I am in favour of judicious use of land bank.”
First Published: Aug 20, 2013 11:05 IST