KANPUR: The Kanpur Development Authority (KDA) met on Friday to discuss the reduction in cost for 5,600 unsold flats from various schemes.
The board approved a budget of ₹25.15 billion and committed to development works costing ₹1,291 crore for the ongoing fiscal year, reflecting a 70% increase from last year’s expenditure of ₹640 crore.
Vijayendra Pandian, the divisional commissioner and chairman of the board meeting, stated that the significant number of unsold flats will now be sold at reduced rates based on 2018 prices. This reduction ranges from 4.60% to 23.19%, with flats priced between ₹8.86 lakh and ₹28.50 lakh. Prospective buyers must deposit 20% for EWS flats and 25% for others to secure possession, with the KDA anticipating ₹1,400 crore in revenue from these sales. Camps will be organized to facilitate the sales process.
Additional proposals approved included the establishment of a bus stand in Jawaharpuram to enhance connectivity to Shatabdi Nagar and a super-speciality hospital at Macrobert Ganj.
A land dispute regarding Ghantaghar in Swarup Nagar, involving KDA and Kanpur Municipal Corporation, has also been resolved. The KMC plans to develop a women’s market along with two basement levels and four-story buildings at an investment of ₹190 crore, sharing 15% of the income with KDA.
In line with the Greater Scheme 2031, the city has been divided into 18 sectors. The board has approved an increase in map and development fees, as mentioned by Pandian.
