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The Lucknow Development Authority (LDA) has launched an e-auction of 50 residential plots and two multi-storey commercial complexes, with a combined estimated value of INR 310 crore. The residential plots, located in Sector G of the Basant Kunj Scheme near Gau Ghat and the Green Corridor, measure 252 sqm each and are priced at a reserve rate of INR 32,955 per sqm. The auction also includes a 2.5-hectare land parcel in Gomti Nagar Extension, a 1,800 sqm commercial-cum-nursing-home plot in Vishal Khand, and two ready-built complexes in Ratan Khand and Mansarovar. These offerings were identified through a recent land audit.
The Lucknow Development Authority (LDA) has initiated an e-auction process involving 50 residential plots under the Basant Kunj Scheme and two prominent multi-storey commercial complexes, aggregating a combined estimated value of INR 310 crore. This initiative is part of a broader effort by the authority to monetize idle land assets discovered during a recent comprehensive land audit. Advertisement
The residential plots are situated in Sector G of the Basant Kunj Scheme, in close proximity to Gau Ghat and the Green Corridor. Each plot measures 252 square metres, and the authority has fixed a reserve rate of INR 32,955 per sqm. In addition, a 1,800 sqm plot designated for commercial and nursing-home development in Vishal Khand, Gomti Nagar, has also been placed on the auction list.
Two key multi-storey commercial complexes have also been offered. The first is a five-storey commercial building in Ratan Khand, which spans 6,729.6 sqm and has a reserve value of INR 87 crore. The second complex, located in Mansarovar, covers 1,586.43 sqm and carries a reserve price of INR 15.27 crore.
In parallel, LDA is advancing preparatory work for the development of high-rise residential buildings on two more vacant land parcels. One of these spans 4,200 sqm and is located near Balu Adda, while the second, measuring 5,000 sqm, lies in the Bhadeva locality of Aishbagh. Both parcels were identified in the same audit exercise and are currently undergoing structural planning, with residential densification in focus.
This auction forms part of LDA's continued real estate push. Earlier this year, the authority raised over INR 675 crore through commercial plot auctions alone. In a separate move, it had also issued replacement notices to 338 homebuyers defaulting on payment obligations, allowing it to repurpose those plots for affordable housing development, particularly in the Economically Weaker Section (EWS) segment.
The auctions are being conducted online via the eauctionsindia.com platform, ensuring transparency and wider accessibility for bidders.
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