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The Lucknow Development Authority (LDA) successfully raised over INR 300 crore through a recent e-auction of various properties. The auction included school plots in Basant Kunj, a commercial plot in the Central Business District, and residential plots in Gomti Nagar Extension. Competitive bidding and strong participation highlighted growing investor confidence in Lucknow's real estate sector. The LDA's transparent processes and organized site visits contributed to the successful sale of 50 properties, showing a rising interest in both residential and commercial developments.
The Lucknow Development Authority has concluded a successful e-auction, generating more than INR 300 crore from the sale of several properties. Among the notable sales were two school plots in Sector-N of the Basant Kunj Scheme, each measuring 3,500 square meters. These plots sold for INR 14 crore each and are planned for private schools to serve residents of Basant Kunj and nearby housing areas developed under the Pradhan Mantri Awas Yojana. Advertisement
A commercial plot in the Central Business District, initially valued at INR 51 crore, received a bid of INR 76 crore, showing strong demand for prime commercial real estate. Additionally, a 288-square-meter plot in Sector-4 of Gomti Nagar Extension, which had a reserve price of INR 95 lakh, was sold for INR 2.76 crore, reflecting a significant premium over its reserve price.
A 4-bedroom flat in Saryu Apartment, valued at INR 1.17 crore, was auctioned for INR 1.73 crore. Six plots from the Transport Nagar scheme, being auctioned for the first time, also received bids 25-30% higher than their reserve prices, indicating rising interest in residential and commercial properties across the city.
LDA Vice Chairperson Prathamesh Kumar said that extensive publicity and organized site visits encouraged more participation. He added that allotment letters will be issued promptly, and project clearances will be facilitated through a single-window system. Additional Secretary Gyanendra Verma confirmed that 50 properties were sold during the auction. The strong response reflects growing investor confidence, aided by strategic initiatives and transparent procedures implemented by the LDA.
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