Every city needs a regulatory body that will not only take charge but will also ensure a constant flow of commercial and residential properties for its homebuyers, keeping in mind the ever-changing trends and requirements. While some cities are lucky enough to have such regulatory bodies working around the clock for the benefit of the people, some cities are not so fortunate.
Today, let us discuss and brief you about Lucknow and the regulatory body functioning in the city - LDA, also known as the Lucknow Development Authority. Needless to say, Lucknow is one of those smart cities that is lucky enough to have LDA and its housing schemes that make the city one of the most sought after when it comes to the real estate market.
Established in 1974 under the Uttar Pradesh Urban Planning and Development Act, 1973, the main function of LDA is to handle the planning and development activities in Lucknow. All constructions and new and upcoming projects are strictly regulated by the qualified and professional authorities working under the LDA. The Lucknow Development Authority actively participates in not only empowering the lower and the economically weaker sections through housing projects but also ensures that a proper balance is maintained between the cultural heritage and the modern needs of its people.
Lucknow Development Authority is responsible for not one, but numerous aspects contributing to the development of Lucknow. Over the years, it has worked and succeeded in the following growth of fields:
2. Construction Work
3. Developing Colonies
4. Building Townships
5. Water Supply
6. Construction of Roads and Streets
7. Developing Infrastructure
11. Urban Economy
12. Finance & Financial Assistance
13. Environment Planning
Note that these fields come under the LDA and it is the regulatory body's responsibility to maintain the growth and development of each one of them.
The LDA has launched a variety of schemes to empower and improve the existing conditions of home buyers. Some of these schemes include The Basant Kunj Yojana and the LDA Housing Scheme of 2020. Moreover, it has also improved the overall infrastructure and the standard of life of people seeking property in urban areas by launching a variety of housing projects. Some of the housing projects that the LDA is proud of are located in Jankipuram, Sultanpur Road, and Gomti Nagar. Apart from these, you might be interested in knowing more about the housing scheme for 2022.
LDA also distributes plots in residential complexes for people who may be in need. It constantly issues notices and works towards inviting property dealers and developers to not only complete the ongoing residential projects but also to help them improve their existing schemes.
The Lucknow Development Authority has also recently come up with a set of rules and regulations that are known as the Building Buy Laws. When designing or constructing a new project in the city, these laws are to be strictly followed and adhered to.
Lastly, the LDA has well-defined eligibility criteria and as someone seeking property in Lucknow, it is important to know and be aware of the same. The eligibility criteria for registration given below applies to any residential scheme of houses and plots in Lucknow -
LDA Eligibility Criteria
1. The applicant should be a citizen of India
2. At the time of applying, the applicant should be more than 18 years of age
3. The applicant or any family members should not own or possess any other property in Lucknow
4. In case any information or documents provided by the applicant or false or not true, the LDA has full authority to take legal action and cancel the registration submitted by the individual.
Allotment will take place according to the current reservation guidelines set by the Government.
Things To Keep In Mind
1. In case any application wants a refund once the allotment of the property has taken place, the deposit amount will be refunded only after deducting 20% of the registration amount.
2. In case of the death of the applicant, the property will be transferred to the legal heir of the expired individual. This will only take place after the required documents have been submitted.
3. The registry of the property will be done in the freehold mode. 12% of the land cost will be taken as a freehold charge.
4. Imposition of levy charges on any leasehold plots will take place at the time of freehold registry. 2% of levy shall be imposed.
5. While there is a lot more to know about the Lucknow Development Authority, what we have informed you about today is enough for you to understand how the LDA works and what it works towards.
In case this intrigues your interest and you would like to know more, you can also check out upcoming projects by LDA and how to apply for them. For other information, feel free to glance through the official website portal of the Lucknow Development Authority.