Lucknow Municipal Corporation lays out real estate venture plan
LMC has got huge land pools in five distinct pockets of city and Under residential projects, it would be constructing more than 100 residential towers with more than 1,500 flats.
Nov 03, 2015
Source : Toi


LUCKNOW: The Lucknow Municipal Corporation (LMC) would realize its long-held dream of venturing into real estate post Diwali. The corporation has finalised tenders for building a huge commercial complex in Kamta, near the new high court building, and three residential projects - one behind Omaxe City on Rae Bareli Road and two others in Para. All these ventures are set to begin this month.

LMC has got huge land pools in five distinct pockets of city. Under residential projects, it would be constructing more than 100 residential towers (G+3 and G+8) with more than 1,500 flats. On Rae Bareli Road, it owns 5.5 hectare land which would be used to make around 800 MIG flats in G+3 and G+8 buildings and several HIG duplex units. Municipal Commissioner Uday Raj Singh said, "While work has started in Kamta, construction in Para and behind Omaxe City on Rae Bareli Road will begin post Diwali."

Several 3BHK, 2BHK- MIG and LIG flats are proposed in the Para project. There would be provision for MIG duplex units too. The residential projects would also have community facilities like clubs, swimming pool, shops, commercial places, terrace garden, community halls etc. The move would give housing facility to many while also generating surplus revenue to be spent on infrastructure development of city.

Official in charge said, "LMC owns a land of about 1,235 square metre area near Kamta in Gomtinagar. The contractor has already started laying foundation of the complex." This land would be used to erect a five storeyed commercial building for official purpose. LMC's zonal '4' office catering to residents of Gomtinagar and Indiranagar would also be shifted to this complex while other floors would be rented out to lawyers' chambers, corporates and private companies. This complex's construction cost is pegged at around Rs 10 crore.

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