SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

No More Land Deals in Lucknow’s IT City and Wellness City: Government Cracks Down to Protect Original Landowners

#Law & Policy#Land#India#Uttar Pradesh#Lucknow
Synopsis

• The Uttar Pradesh government has barred the sale, purchase and registration of land within the notified areas of LDA’s IT City and Wellness City projects in Lucknow.
• The move is aimed at preventing speculative land transactions and ensuring that benefits under the land pooling scheme reach original landowners.
• Only landowners whose names are already recorded in revenue records will be eligible for developed plots and project-related benefits.
• The restriction covers the first phase of both mega township projects being developed along Sultanpur Road and the Kisan Path corridor.
• Authorities expect the decision to curb artificial land price escalation and support smoother implementation of the projects.

The Uttar Pradesh government has imposed restrictions on the sale, purchase and registration of land falling within the notified areas of the Lucknow Development Authority’s (LDA) proposed IT City and Wellness City projects in Lucknow. The decision is aimed at protecting the interests of original landowners and preventing speculative transactions in areas earmarked for large-scale urban development. 
The restriction follows the issuance of an official notification covering the first phase of both projects. Under the order, land transactions within the notified areas will not be permitted, ensuring that only genuine landowners participating in the land pooling scheme receive the benefits associated with the developments. 
Officials said the move was introduced after authorities observed growing investor interest in purchasing land within the project zones with the expectation of securing developed plots under the land pooling policy. By freezing land transactions, the government intends to prevent middlemen and investors from entering the process at a later stage and claiming benefits meant for original landowners. 
Under the land pooling framework, landowners voluntarily contribute their land for development and, in return, receive a portion of developed land after infrastructure and urban amenities are created. LDA officials clarified that only those individuals whose names are already recorded in the revenue records will be eligible for benefits under the scheme. Any land purchased after the notification will not qualify for allotments or other project-related entitlements. 
The first phase of the IT City project spans approximately 686.66 hectares across several villages, including Sonai Kanjehra, Sikandarpur Amolia, Siddhpura, Parehta, Paharnagar Tikaria, Rakibabad, Bakkas, Mohari Khurd, Khujauli and Bhatwara. The larger IT City township is planned across nearly 3,646 acres and is expected to emerge as one of Lucknow’s key mixed-use development hubs, comprising residential, commercial and institutional infrastructure. 
The Wellness City project covers around 1,197.98 acres in its first phase and includes villages such as Bakkas, Chaurasi, Chaurahia, Malukpur Dhakhwa, Noorpur Behta, Mastemau and Dularamau. The project is being developed along the Kisan Path corridor and forms part of LDA’s long-term plan to create integrated urban zones focused on healthcare, residential development and supporting infrastructure. 
Officials believe the restriction will help maintain transparency in the land pooling process while preventing artificial inflation of land prices. The move is also expected to reduce disputes related to ownership claims and eligibility for developed plots once the projects move into the implementation stage. 
The decision comes as LDA continues to accelerate work on several large township projects across Lucknow. In recent months, the authority approved a budget of more than INR 5,100 crore for the current financial year, with major allocations directed towards land acquisition, infrastructure development and expansion projects, including IT City, Wellness City, Naimish Nagar and Varun Vihar. 
With both projects expected to play a significant role in Lucknow’s future urban growth, the latest restriction reflects the administration’s effort to ensure that development benefits remain with the original stakeholders while enabling smoother execution of large-scale real estate and infrastructure initiatives. 
Source Reuters

Discussion

Have something to say? Post your comment