The Lucknow Development Authority (LDA) has recently acquired over 12 hectares of land in Piyarepur village for the Edium City project, also known as the Mohan Road scheme. This process began 15 days ago and involved signing agreements with local farmers. This is part of a bigger plan to turn the area into a modern urban center with roads, sewers, and green spaces. To address concerns, the LDA has increased compensation rates for farmers in Piyarepur. A budget of INR 225 crore has been set for the first phase of the development. This project will focus on roads, sewers, and other infrastructure.Read more

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has referred 250 home possession cases to adjudicating officers in Lucknow and Gautam Budh Nagar to address developers' delays in property delivery. Of these, 130 cases are in Lucknow, and 120 are in Gautam Budh Nagar. UP-RERA Chairman Sanjay Bhoosreddy emphasised the need for swift resolution, empowering officers under Rule-24 of the UP-RERA 2018 regulations. Developers who fail to comply face penalties enforced through the district magistrate. This action aims to protect home buyers' rights, ensuring timely possession and restoring confidence in the state's real estate market.Read more

Lucknow, contributing 3.85% to Uttar Pradesh's GDP, is experiencing a real estate surge, with property prices rising by 25-50% over the past two years. The city's real estate market is fueled by government projects, IT sector expansion, and a 300% increase in warehouse demand. Recent infrastructure investments include INR 8,200 crore for 61 new projects, enhancing connectivity and reducing congestion. Prominent areas like Hazratganj and Gomti Nagar are seeing significant growth. Challenges such as traffic and waste management persist, but with ongoing developments, Lucknow is poised for continued economic and real estate advancement.Read more

Lucknow, Uttar Pradesh, tops Tier 2 cities in India with a substantial 5.7 million square feet of gross leasable area (GLA) for shopping centres, surpassing Kolkata and Ahmedabad. Knight Frank India's survey reveals Lucknow's 5% share of the national retail stock and an 18.4% share of Tier 2 cities' GLA. With a density of 1,439 square feet per thousand people and over 580 retail stores, the city blends local and international brands, driven by growing demand and improved infrastructure. Abhishek Sharma from Knight Frank emphasizes Lucknow's role as a retail hub, aligning with India's expanding Tier 2 city market.Read more

The Lucknow Development Authority (LDA) is set to start land acquisition for four new housing schemes: Wellness City, IT City, Educational City, and Prabandhnagar. Approved by LDA chairperson Roshan Jacob, these projects span various locations and include significant infrastructure developments. Wellness City on Sultanpur Road will feature medical facilities, while IT City will host a hi-tech park and industrial zones. Educational City on Mohan Road will have a grid layout with extensive residential and commercial plots. Prabandhnagar Scheme on IIM Road will encompass residential, commercial, and industrial areas. A tender worth INR 225 crore has been issued for infrastructure development.Read more

Lucknow has made a significant environmental stride by completing the demolition of over 1,320 illegal structures along the Kukrail River, clearing 24.5 acres. The Lucknow Development Authority (LDA) led this initiative to address flood risks and restore the river's ecosystem. Over 1,800 displaced families were relocated using the Pradhan Mantri Awas Yojana scheme. The state government plans to invest INR 73 crore in developing an eco-tourism hub on the cleared land, promoting job creation, tourism, and environmental awareness. This project exemplifies the balance between urban development and environmental conservation.Read more

The Lucknow Development Authority (LDA) has initiated the demolition of illegal constructions in Akbarnagar, targeting shops and houses built without permits. Affected residents are being relocated to Vasant Kunj, with LDA officials, including VP Indramani Tripathi, facilitating the move. The demolition, focused on vacated buildings, is under strict security and CCTV surveillance. While alternative housing is provided, residents face challenges such as a relocation fee of INR 8,000 and higher-floor apartments. The LDA is working to address these issues, aiming to balance planned development with resident well-being.Read more

NCR-based real estate developer Migsun Group has acquired land in Lucknow to develop a mixed-use project called Migsun Lucknow Central. Spread over 20,239 sqm, the INR 426 crore project will have retail spaces, a food court, business suites, and studio apartments. Around 500 units will be launched in the first phase priced at INR 49 lakh each. This is Migsun Group's second commercial project in Lucknow, expanding their operations beyond Delhi-NCR to tier 2 cities like Lucknow.Read more

Lucknow plans to merge water and house taxes, simplifying payments with distinct identification numbers. Early house tax payments by March 31st offer a 15% discount, promoting timely contributions. The executive committee approved audits of sewer lines and procured stainless steel tankers for summer water supply. Infrastructure dedications, like renaming a flyover and railway station, honour the city's heritage. These decisions reflect Lucknow's commitment to efficient tax collection and community involvement.Read more

In a recent office directive, promoters have been instructed to submit project-related documents, including registration, extensions, and modifications, to the UP-RERA Head Office in Lucknow. This order outlines that the delivery can be made either in person or via postal service. The move aims to centralize project documentation processes and ensure compliance with regulatory standards. To expedite matters, documents for complainants in NCR regions will be handled at the Regional Office in Greater Noida. Sanjay Bhoosreddy, chairman of UP-RERA, emphasizes the importance of timely document delivery for efficient resolution of matters.Read more

The Supreme Court, in a recent hearing on the demolition of structures in Lucknow's Akbar Nagar, highlighted flaws in urbanization policies and the government's failure to provide affordable housing, citing it as a key driver for unauthorized constructions. Justices Sanjiv Khanna and Dipankar Datta noted challenges in urbanization policies, particularly in cities like Delhi, where unauthorized colonies proliferate due to inadequate land information. Concerns were raised over demolitions affecting both commercial and residential spaces, prompting a reevaluation of existing policies to address housing needs, especially for economically weaker sections. The court issued an interim stay on demolitions, emphasizing the necessity for comprehensive urbanization policy reviews to ensure housing for all.Read more

In a recent ruling, the Lucknow bench of the Allahabad High Court addressed a key issue regarding eligibility under the state's slum policy. The court highlighted that those with commercial establishments in slum areas cannot be equated with traditional 'slum dwellers,' sparking debate. The case, focusing on the Akbarnagar demolition, saw the court directing authorities to provide details of slum dwellers filing GST and Income Tax returns. This underscores the court's intent to assess each case individually. The outcome of this legal battle will likely influence future urban development strategies and legal interpretations concerning slum rehabilitation policies.Read more

The Lucknow Development Authority (LDA) achieved a significant milestone in real estate with a highly successful e-auction, garnering over INR 675 crore for commercial plots. Various plots, including those for group housing, schools, health centres/nursing homes, and mixed-use purposes, attracted enthusiastic buyers. Noteworthy transactions included the sale of a Central Business District Scheme plot for INR 180 crore and a health-centric space in Gomti Nagar Extension Scheme for over INR 50 crore. The LDA's proactive embrace of e-auctions, with another round valued at INR 2,500 crore, underscores its commitment to a dynamic and thriving real estate market in Lucknow.Read more

BSNL plans to monetise 7.5 acres of prime land in Lucknow via e-auction, setting a reserve price of INR 226 crore. The land is part of a larger parcel which hosts a telephone exchange and customer service center across 0.63 acres while the rest is vacant. NLMC appointed CBRE South Asia to manage the sale. Eligible bidders include individuals, companies, LLPs, trusts, and funds. Bidders must upload documents from February 15-22, with the e-auction date to be announced later. This move aligns with BSNL's contribution to the National Monetisation Pipeline, aiming to monetise non-core assets like tower businesses and other properties.Read more

Uttar Pradesh is set to launch India's inaugural AI city in Lucknow, spread across 40-acres in the Nadarganj Industrial Area. An Expression of Interest has been extended to real estate developers, promising financial incentives like Capex support and stamp duty exemption. The AI city aims to integrate advanced technology, research centres, and educational institutions, fostering an ecosystem conducive to AI and MedTech. The plan envisions plug-and-play infrastructure, premium Grade- A office spaces, a mix of housing options, and AI-driven internal transport, aligning with a walk-to-work model and dedicated spaces for academic collaboration.Read more

The Lucknow Development Authority (LDA) has revealed a comprehensive plan to address the concerns of families facing eviction from residences along the Kukrail riverbed. LDA Vice-Chairman Indramani Tripathi cited the area's designation as a floodplain since 1904 and 1920, emphasizing unauthorized construction issues. To mitigate displacement impact, LDA has offered discounted housing options, reduced registration fees, and assistance for shop relocation. Business owners can relocate to LDA-developed shops with a 15% upfront payment and a convenient 10-year payment plan. The initiative aims to balance addressing encroachment issues while minimizing the impact on affected residents.Read more

In a major development, the Enforcement Directorate (ED) has made its second arrest in connection with the money laundering investigation linked to Shine City in Lucknow. Abhishek Kumar Singh, identified as a key figure in facilitating the laundering of illicit proceeds, was apprehended from Sitapur. The investigation originated from approximately 250 FIRs against Rasheed Naseem and Shine City Group of Companies, accused of orchestrating a financial scheme that allegedly siphoned off Rs 800-1000 crore from the public. Singh's role in aiding Naseem in collecting, concealing, and laundering the ill-gotten gains has come under scrutiny, highlighting the complex web of financial misconduct surrounding Shine City.Read more

The Enforcement Directorate (ED) recently apprehended Shashi Bala in connection with a money-laundering probe involving a Lucknow-based company accused of defrauding investors of Rs 800-1,000 crore. Bala, an active associate of the main accused, Rasheed Naseem, in the Shine City fraud, has been taken into custody. Naseem, the primary accused, is currently at large. A special court under the Prevention of Money Laundering Act has remanded Bala to ED custody until November 30. The ED revealed that Bala played a crucial role in assisting Naseem in concealing and laundering the proceeds of the alleged crime. The case involves raids, FIRs, and investigations into the financial misconduct.Read more

The Lucknow Development Authority (LDA) plans to construct a seven-storey apartment exclusively for senior citizens in Gomtinagar's Viraj Khand. The decision involves cancelling the allotment of 9,000 square meters of land designated for railways. The Studio flats will be designed with a focus on the needs of senior citizens featuring spacious balconies, cross ventilation, and amenities like meditation centres and a gymnasium. The flats will be allotted on lease to individuals above 60 years who are living independently. The initiative aims to provide a comfortable and nature-connected living environment, addressing the well-being and minimalistic lifestyle preferences of senior citizens.Read more

The Lucknow Development Authority (LDA) brings relief to economically weaker sections by waiving compound interest for defaulters of EWS and LIG houses and shops up to 20 square meters. The decision, approved during the LDA board meeting, aims to ease the financial burden on allottees under EWS, LIG, and Pradhan Mantri Awas Yojana. Divisional Commissioner and LDA chairperson Roshan Jacob, highlighting the hindrance posed by compound interest on recovery of dues, said that this move would rectify the issue to a large extent. LDA has taken a slew of measures to boost demand over the last couple of years such as lowering of interest rates, extending EMI period, and even freezing the flat prices under the first-come-first-served scheme for a year.Read more