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.
The Lucknow Development Authority (LDA) recently marked a significant triumph in the realm of real estate through a lucrative e-auction, where commercial plots garnered an impressive sum of over INR 675 crore. This successful event unfolded with plots dedicated to various purposes, including group housing, schools, health centers/nursing homes, and mixed-use plots, finding eager takers.
Chairman Roshan Jacob presided over the distribution of certificates to the allottees during a ceremony. Adding a layer of assurance, Jacob pledged the issuance of allotment letters within a swift timeframe of 15 days. This gesture aimed to instill confidence and transparency in the entire process, underlining the commitment of the LDA to a streamlined and efficient approach in property transactions.
One of the prime transactions in the auction was the Central Business District Scheme situated in SG City. A land area covering 18,962 square meters was sold for an impressive INR 180 crore. This underscores the robust demand for commercial real estate in strategic locations.
Another notable transaction was in Sector-7 of the Gomti Nagar Extension Scheme, specifically reserved for nursing homes and health centers. Land parcel number 7/12A, covering a substantial 8,844 square meters, fetched more than INR 50 crore. Apart from the financial part, the sale also sheds light on the evolving needs of the community, as evidenced by the focus on health-centric spaces.
Notably, the LDA has expanded its horizons by opening the portal for another round of e-auction, this time featuring commercial properties with a combined valuation of approximately INR 2,500 crore. Interested parties have until February 16 to register for bidding, with the e-auction slated for February 20. This extension of the e-auction platform reflects the LDA's strategic vision in leveraging digital avenues for property transactions.
As the e-auction landscape continues to evolve, the LDA's proactive approach in embracing digital platforms for property transactions emerges as a model for other development authorities. The engagement of stakeholders, coupled with the transparent and efficient process, positions the LDA as a key player in the dynamic real estate market. The success of the recent e-auction stands as a testament to the growing confidence of investors and buyers in the LDA's commitment to fostering a robust and thriving real estate ecosystem in Lucknow.
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