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.