Lucknow Development Authority Auctions 475 Properties Worth ₹3,000 Crore
LDA puts 475 properties worth ₹3,000 cr on e-auction
Hindustan Times
Image: Hindustan Times
The Lucknow Development Authority (LDA) has initiated an e-auction for approximately 475 properties valued at around ₹3,000 crore ($360 million USD), including residential plots in Gomti Nagar Extension and Basant Kunj schemes. The auction is open until May 28, with a 10% earnest money deposit required from bidders.
- 01LDA is auctioning 475 properties worth ₹3,000 crore ($360 million USD).
- 02Residential plots range from 25 to 300 square metres, with prices from ₹8.5 lakh ($10,000 USD) to nearly ₹1 crore ($120,000 USD).
- 03Key offerings include 12 newly planned plots in Gomti Nagar Extension.
- 04The auction aims to enhance organized housing in Lucknow's older areas.
- 05Bidding requires a 10% earnest money deposit based on the reserve price.
Advertisement
In-Article Ad
The Lucknow Development Authority (LDA) has launched an e-auction for 475 properties valued at approximately ₹3,000 crore (around $360 million USD). This auction includes 149 residential plots in the Gomti Nagar Extension and Basant Kunj schemes, with the bidding portal open until May 28. LDA chairman Prathamesh Kumar stated that participants must deposit 10% of the reserve price as an earnest money deposit (EMD) to bid. The residential plots vary in size from 25 square metres to 300 square metres, with prices starting at around ₹8.5 lakh ($10,000 USD) for the smallest plot and potentially reaching nearly ₹1 crore ($120,000 USD) for larger ones. Notably, 12 newly planned residential plots in Sector-6 of Gomti Nagar Extension are available, developed on reclaimed land. The auction also features four group housing plots in Wazirganj and nine institutional plots in Anant Nagar under the proposed Edu City project, aiming to improve housing facilities in the area.
Advertisement
In-Article Ad
This auction could significantly enhance housing options in Lucknow, providing opportunities for homebuyers and developers to invest in key areas.
Advertisement
In-Article Ad
Reader Poll
Do you think the e-auction will improve housing availability in Lucknow?
Connecting to poll...
More about Lucknow Development Authority
Lucknow Development Authority Unveils ₹1,500 Crore Elevated Corridor Project
Hindustan Times • May 12, 2026
Allahabad High Court Enforces Noise Restrictions at Night Events in Lucknow
Hindustan Times • May 11, 2026
Illegal Shacks Emerge in Gomti Nagar Extension Parks Amid LDA Inaction
Hindustan Times • May 11, 2026
Read the original article
Visit the source for the complete story.