The Lucknow Development Authority (LDA) is now taking a major step towards better utilization of its shops and plots that have been vacant for years. Over 100 shops, lying vacant in various city schemes for about 15 years, will now be sold under a 'first come, first served' policy instead of auction. This proposal will be presented for approval at the board meeting scheduled for August 4th.
The Authority believes that this flexible strategy will accelerate the sale of shops and also increase LDA's revenue. For a long time, these shops could not be sold due to high prices and poor location, which was also affecting commercial activities in the scheme areas.
Layout of Plots to be Changed
LDA is not only changing the shop sale policy but is also preparing to change the layout and land use of more than 40 plots. These plots were previously reserved for public facilities like post offices, police stations, fire stations, and community centers. However, the concerned departments did not show interest in them, nor were any development works initiated.
Now, LDA is going to open them for residential and commercial use. According to officials, this will lead to the development of new houses, shops, and office spaces in the city, which will also increase employment and business opportunities.
Budget Proposal of ₹12,505 Crore
LDA has prepared a record budget proposal of ₹12,504.97 crore this year. This budget will be placed for approval at the board meeting to be held on August 4th. This amount will be used for new housing schemes, apartment construction, and land acquisition.
According to the budget proposal, the maximum amount of ₹7,471.93 crore will be spent on the Varun Vihar housing scheme, while a provision of ₹4,785.34 crore has been made for the Naimish Nagar scheme. Apart from this, ₹50 crore each has been earmarked for apartment construction in Viraj Khand, Gomti Nagar Extension, and Aishbagh Mill Road.
To promote tourism and greenery, ₹7.50 crore has been proposed for the Mango Theme Park in Basant Kunj and ₹3.20 crore for the Ayurveda Park and Wellness City. At the same time, a budget of ₹4.50 crore has been allocated for the construction of a synthetic track in Lohia Park.
New Momentum for City's Development
LDA believes that these schemes will not only enable better utilization of old and inactive resources but will also accelerate residential and commercial activities in Lucknow. Several projects, from land acquisition to the construction of multi-story apartments, are pending, which will get a boost from this budget.
Also, projects promoting tourism will enhance the image of the city. Once the proposals are approved by the board meeting, the sale of shops will start on a 'first come, first served' basis, and new construction works will be given the green signal under the changed plot layouts.
This initiative will not only strengthen the financial position of the Authority but can also prove to be a major leap in the direction of Lucknow's development.
