Smart township project spanning 80 acres launched in Lucknow
The project ‘Paarth Republic’ would comprise almost 4,500 residential units belonging to different categories
Feb 03, 2015
Source : Business Standard


Lucknow: A mega smart township project spanning 80 acres has been launched in Lucknow on Lucknow-Kanpur highway.

The project ‘Paarth Republic’ would comprise almost 4,500 residential units belonging to different categories, apart from shopping and commercial complexes. Almost 900 units would be constructed for economically weaker sections (EWS) and low income group (LIG) categories as mandated by the government.

“We have the land under our possession and expect to start delivering flats in 3-4 years, although the entire project would take 6-7 years to complete given the size of the township,” Paarth Infrabuild CMD Pradeep Misra told Business Standard here.

He said the company had tied up with financial institutions to fund the project, which is expected to cost over Rs 4,000 crore. Of 80 acres, 57 acres have been earmarked for residential development, while 23 acres would account for mixed land use.

“This would be the first smart city project in this region to provide smart solutions with regard to transport, sewage treatment plant (STP), urban lighting, telemedicine, maintenance, power, security etc,” he informed.

The smart city would offer piped natural gas (PNG) connection to its residents. A world class cricket stadium would be developed and cricketer Harbhajan Singh would be a part of it. The township is coming in the vicinity of the proposed Lucknow Metro Rail route from Lucknow to Charbagh railway station. The Metro project has already revved up real estate segment in the area with property prices moving north in anticipation of further appreciation once Metro Rail starts chugging.

Meanwhile, Paarth Infrabuild is planning to expand footprint in cities like Allahabad, Varanasi, Noida, Kanpur, Greater Noida and Ghaziabad. Later, it would focus on projects outside Uttar Pradesh.

Latest Realty News

Feb 03, 2015
New Delhi: The Centre has cracked the whip on States to get started on developing 'Smart Cities' with a caveat-they will have to “earn” the funds being allocated by the Urban Development Ministry for the scheme
Feb 03, 2015
New Delhi: The finance ministry is proposing changes in the investment norms for non-government provident funds as well as superannuation and gratuity funds to boost flow of funds into infrastructure and affordable housing
Feb 02, 2015
Mumbai: It has been five years since the Maharashtra Chamber of Housing Industry (MCHI-CREDAI) entered into a pact with the state government for an ambitious project of building five lakh low-cost houses in Mumbai, but the project has been a non-starter
Feb 02, 2015
PUNE: The state consumer disputes redressal commission has ordered a city-based builder to either hand over a 640 sq ft flat in a redevelopment project in Budhwar Peth or pay Rs 25.86 lakh compensation to a retired government official
Feb 02, 2015
GREATER NOIDA: The Uttar Pradesh government on Wednesday approved a leaseback policy for abadi land in the city.
Feb 02, 2015
BHUBANESWAR: The Bhubaneswar Development Authority (BDA) and police jointly demolished the concrete canopy and boundary wall at Subham Market complex in Unit-III to create parking space
Feb 02, 2015
BHUBANESWAR: The state government has issued show-cause notices to 25 technical institutions, including a university, for encroachment of government land
Feb 02, 2015
Chandigarh: Having made his millions in the Canadian real estate market, Canada's first Sikh billionaire, Bob Dhillon, feels India's real estate market has a lot of potential
Feb 02, 2015
RAJKOT: The Rajkot Municipal Corporation (RMC) would launch its own housing project
Feb 02, 2015
New Delhi: If you are planning to buy a house or a car, or have been paying EMIs for your home loan, you would probably be keeping an eye on expected announcements from the Reserve Bank of India (RBI) on Tuesday

Latest Realty News Of State

Realty Talk's