Curation Team
LUCKNOW: The Lucknow Development Authority (LDA) has decided not to increase the sector rates of its properties.
As a result, the proposed hike in district magistrate circle rates will not affect the prices of those LDA properties that are evaluated based on reserved sector rates.
Similarly, the prices of apartments constructed under various LDA schemes will also remain unchanged, as the rates of flats were already frozen for one year according to the decision of the LDA Board.
According to a proposal passed by the LDA Board, the prices of flats being sold under the ‘first come, first served’ scheme have been frozen for a year. Therefore, even after the DM circle rate hike comes into effect, LDA will not increase the prices of these flats.
The Lucknow district administration has proposed a revision of DM circle rates for the first time since 2015, which is expected to increase property prices in several localities of the city.
This revision will not affect the prices of plots in LDA’s newly developed Anant Nagar residential scheme. LDA will continue to allocate properties in this scheme according to its previously fixed sector rates.
