Tuesday, April 16, 2024


LDA earns Rs 2,000 crore by auctioning land freed from mafia

IANS | April 02, 2024 02:48 PM

LUCKNOW: The Lucknow Development Authority (LDA) has earned Rs 2, 629.89 crore from the auction of commercial and residential properties last fiscal year.

Of the total amount, a major chunk Rs 2, 058.64 crore, came from the sale of land that was encroached by land mafia and freed by the Uttar Pradesh government, officials said.

IndramaniTripathi, the vice-chairman of LDA, said, "In the last fiscal year (2023-24), the LDA earned Rs 2, 629.89 crore through the e-auction of its commercial and residential properties. Out of this, Rs 2, 058.64 crore was earned by auctioning properties freed from the illegal possession of land mafia."

As part of a drive, LDA had freed 138 plots and 83 shops worth Rs 1, 700 crore from illegal possession of land mafias in Gomti Nagar, Gomti Nagar Extension, CG City, Jankipuram and Basant Kunj.

"Through e-auction, these properties were sold for Rs 2, 058.64 crore, " said Tripathi.

The development authority also sold eight properties to several state government departments for Rs 302.07 crore.

"The authority was able to e-auction 1, 125 flats for Rs 510 crore in the last financial year, " said Vivek Srivastava, LDA secretary.

Also, 175 flats were allotted through lottery, bringing Rs 61.25 crore to the LDA .

Have something to say? Post your comment