LUCKNOW: The Lucknow Development Authority (LDA) recorded property sales exceeding Rs 425 crore in its recent e-auction, with bids reaching up to three times the reserve price in various instances. For instance, a 75 sq m residential plot in Sector 5, originally valued at Rs 28 lakh, sold for an impressive Rs 1.5 crore. According to LDA vice chairperson Prathamesh Kumar, a land audit and drone survey exposed properties under illegal occupation, leading to their clearance and subsequent public bidding.
In Gomtinagar Extension’s Sectors 5 and 6, 95 residential and seven commercial plots attracted bids, with 88 of them selling for two to three times their base price. A group housing plot of 4,647 sq m in Sector 6, which had a reserve price of Rs 34 crore, was sold for Rs 47 crore. Similarly, a 200 sq m plot in the same sector, valued at Rs 72.99 lakh, fetched Rs 2.99 crore.
A commercial plot of 905 sq m in Sector I of the Kanpur Road Scheme, with a base value of Rs 7.44 crore, received an unprecedented bid of Rs 20.88 crore. Another commercial plot in Sector 5 of Gomtinagar Extension saw bids rise from Rs 1.57 crore to Rs 4.1 crore. Plots in Basantkunj and Transportnagar were sold at premiums of 25 to 30 percent. Kumar remarked, “Successful bidders will receive allotment letters, and all map approvals will be facilitated through a single-window system.”
