The Role of Lucknow Development Authority in Real Estate Development

Are you someone from Lucknow, or planning to invest in Lucknow’s real estate? If your answer is yes, you are at the right place. Here, we will give you all the details about Lucknow development authority and real estate to navigate you smoothly through the process.

It’s common knowledge that every city has one regulatory body that sets the proper procedure at all stages of real estate development and exchange. Buying and selling homes is a crucial activity undertaken by members of society, therefore it requires proper regulations to be followed. Regulations not only security of the property exchange but also develops a sense of trust among the members of society in their government. In the case of Lucknow, that regulatory body is LDA or Lucknow Development Authority, which controls all the important allocations, permits, and regulations required in real estate development. Before we move deeper into the various schemes rolled out by LDA, let us understand Lucknow and its real estate sector.

Lucknow is a city in uttar pradesh, which has been known for its rich legacy of regality. For centuries the city has garnered appreciation as the city of Nawabs, but lately, the identity of the city can be seen to have developed as that of a fast-track smart city. The effects of this rapid growth can be seen in other sectors of the city as well. For instance, the industry that is gaining the most through this development is the real estate sector. Lucknow, until recent years, was known for its royal architecture and traditional homes but with the inception of modern inspiration in the infrastructure of the city, the city is gaining an extravagant skyline. This level of development necessitates the significance of a government regulatory body, i.e., Lucknow Development Authority.

LDA was created in 1974 by the UP Urban Planning and Development Act, of 1973. The Lucknow Development Authority (LDA) is the main body entrusted with the planning, development, and execution of Lucknow’s urban development.

The process through which the body undertakes its functioning includes plot control and acquisition, ambiance structures, and physical and socio-progression of infrastructure in the urban areas. LDA not only ensures the urbanization of Lucknow city but also the development of proper facilities. Lucknow Development Authority plans to achieve is to transform the city into an eco-friendly place to live, through its various stand-alone and center-backed schemes such as the Lucknow Development Authority housing scheme 2023 and LDA Sulab Awas Yojana, under PMAY, or Pradhan Mantri Awas Yojana.

LDA or Lucknow Development Authority other than regulating the real estate of Lucknow also rolls out periodic schemes to provide proper housing to people in need. The very recent scheme rolled out by LDA was a housing scheme offering 4500 flats at subsidized rates in Sharda Nagar and Vasant Kunj localities of the society. This scheme gained so much momentum that it was subsumed under the Pradhan Mantri Aawas Yojana (PMAY), the Central Government’s ambitious ‘Housing for All’ project. This was a massive success for the LDA. other than this, LDA has been much more active in providing various schemes in the past few years, some of the schemes put forth

Eligibility for LDA housing scheme:

• Anyone above the age of 18 and with an annual income of Rs. 3 lakh is eligible.

• The candidate must be an Indian national. NRIs may apply.

• The applicant should not have more than one residential property in Uttar Pradesh and no more than one residential property in Lucknow that has been allocated to them by the LDA or any other authority.

• Planning on applying for LDA Housing scheme? Here's everything you need to know to apply online for Lucknow Development Authority Housing Scheme 2023?

• Log in to the Lucknow Development Authority's official website.

• Click on the "New Residential Plan" section on the homepage.

• Now, complete the required information, including the father's name, the name of any coapplicants or nominee, the payment method, and the area pin code, among others.
• Next, enter the information requested (PAN card number, Aadhaar number, yearly income, bank account information, and registration fee) and check the acknowledgment box.
• Complete the form and upload the necessary documents.
• When the application number is generated, keep it carefully saved for future use.

Now, let us take a look at the features of the Lucknow Development Authority or LDA Sulab Awas Yojana. This scheme is under the Pradhan Mantri Awas Yojana (PM-AY). Some of the features of the scheme are as follows:

• The central government in a 60:40 partnership with the state government of Lucknow constructed 1 Lakh PMAY houses. This will not only reduce the fiscal burden on the central government but also ensure a cooperative process leading to better development of the dwellings.
   
• The scheme includes plans like creditlinked subsidy schemes and beneficiary-led construction. Under PMAY CLSS or Credit linked subsidy scheme, the home buyers will get interest concessions based on their annual income levels. The beneficiary-led construction includes assistance to individuals or families to either construct a new house or repair the existing one.
   
• Under the scheme, the government also planned to incorporate insitu slum rehabilitation and affordable housing partnerships, to ensure a parity of welfare being through the scheme.
   
• Houses constructed with ecofriendly and sustainable technologies to ensure future ready real estate of Lucknow. Currently, Lucknow is one of the fastest growing smart city and schemes like this have a major contribution in it.
   
• Ground floor accommodation is primarily for senior citizens and physically disabled persons. This feature of the sulab awas yojana flats is one of the prime features, which is often overlooked by other schemes or builders.

Conclusion

The Lucknow Development Authority or LDA is the real backbone and driver of infrastructural development of the city. Thereby making it a first choice among new-age real estate developers and investors. From luxury 2 & 3 BHK apartments to beautifully built independent villas, the residential real estate of Lucknow is booming with bright opportunities, in tandem with the government’s plans for future development.