The Prayagraj Development Authority (PDA) has implemented a 10% price cut on unsold flats in Kalindipuram and Naini, aiming to boost sales after previous initiatives failed to attract buyers. This decision follows a board meeting focused on Master Plan 2031, which will expand the urban area to include 1,200 new villages, increasing the PDA's jurisdiction from 309 to 398 square kilometres. The residential zone will expand from 36% to 46%, while the commercial area will increase from 2.04% to 4.57%, addressing the growing demand for housing and development in the region.
The Prayagraj Development Authority (PDA) has reduced the prices of unsold flats by 10%. This decision comes alongside several others made during last week's board meeting, including changes in land use and plans for expanding residential and commercial areas. Currently, 256 flats in Kalindipuram and Naini have remained unsold for an extended period. The PDA has issued multiple calls for applications for allotment and even attempted to sell the flats on a first-come, first-served basis, but prospective buyers have been deterred by the high prices.
As a result, the board has approved a 10% price reduction for the flats. In addition to this, there was an in-depth discussion regarding Master Plan 2031. This plan will expand the urban area and incorporate 1,200 new villages surrounding the city. Under the previous Master Plan 2021, the PDA's area covered 309 square kilometres, which has now been increased by an additional 89 square kilometres. Although the PDA has expanded its boundaries significantly, much of the land has yet to be designated for residential development.
There has been a consistent demand for residential permissions in the city's growing areas. In this meeting, the residential zone under the master plan has been raised by 10%. The residential area, which was previously 36%, will now increase to 46%. Likewise, the commercial area will grow from 2.04% to 4.57%.
The Prayagraj Development Authority's decision to reduce flat prices and expand development plans marks a proactive approach to stimulate the housing market. By addressing the unsold inventory and increasing residential and commercial zones, the PDA aims to enhance urban growth and meet rising demand. The Master Plan 2031 reflects a commitment to sustainable development by incorporating new villages and significantly expanding urban boundaries. These measures could attract more buyers and investors, fostering economic growth and improving living conditions in the region. The ongoing adjustments signal a responsive governance model that prioritizes the needs of a growing population.
Advertisement
Facebook
Whatsapp
