Lucknow Development Authority (LDA) is preparing to increase the rate of land in its plans after the new DM circle rate is implemented next month. However, this increase will be only in plans where the LDA rates are lower than the DM circle rate, where the rates are already higher than the circle rate, there will be no change.
According to LDA officials, the authority's rates in areas like Gomtinagar are already higher than the DM circle rate. In such a situation, there will be no change in prices in these areas. In many new and old schemes of LDA, shops and commercial lands are lying vacant, which are sold through auction. The prices of these properties are likely to rise after the increase in circle rate.
Compensation may increase in new schemes
The LDA is working on new schemes like IT City and Wellness City on Sultanpur Road, BKT on Sitapur Road and Managing in Faizullaganj and industrial city near Agra Expressway. For these schemes, land is being taken through landpooling, where land will not be found from landpooling, you will have to acquire it. The cost of these schemes can increase by giving compensation to farmers on the basis of new circle rate.
What do officers say?
LDA VC Prathamesh Kumar said that after the DM circle rate is implemented, the authority will review the schemes where the rates are low. Only the rates will be increased there. There are already rates in areas like Gomtinagar, so there will be no change. He clarified that the prices of flats sold under the first come, first serve scheme have been stable for the last one year and there will be no effect on the change in circle rate.
Authority expected to increase income
While this strategy of LDA is expected to increase the income of the authority on the one hand, the increase in the cost of new schemes can affect the common buyers. Experts believe that there will be an attempt to balance the circle rate and LDA rate, so that the schemes can be operated smoothly.
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