The Lucknow Development Authority has awarded contracts for five construction and developmental projects, including three housing projects for building 1,000 flats involving an investment of ₹277 crore. Among others, the projects will have facilities like installation of four escalators each at Charbagh and Polytechnic foot-over bridges. LDA has also launched three other housing projects as it had invested ₹75 crore in land acquisition and removal of encroachments. There will be 300-400 flats in each project, said vice chairman Shivakant Dwivedi, adding that the projects are in Gomtinagar extension, Rae Bareli road and Sultanpur road of the city. The authority has launched these projects despite the fact that about 3,465 flats in five LDA housing projects are still lying unsold since 2-3 years due to a slump in the market. The authority has announced 25% discount on the flats to push demand.
📅Published on:
29 May 2020
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