LUCKNOW: The Lucknow Development Authority (LDA) has announced that it will not be raising the sector rates for its properties.
This decision means that the anticipated increase in district magistrate circle rates will not impact the prices of LDA properties valued according to reserved sector rates.
In addition, prices for apartments built under various LDA schemes will remain stable, as these rates were already frozen for one year following a resolution by the LDA Board.
According to a proposal approved by the LDA Board, the price of flats sold under the ‘first come, first served’ scheme will remain unchanged for a year. Thus, even after the DM circle rate adjustment takes effect, there will be no price increases for these flats.
The Lucknow district administration has proposed revising DM circle rates for the first time since 2015, which is likely to impact property prices in numerous areas of the city.
This revision will not affect the pricing of plots within LDA’s newly established Anant Nagar residential scheme. The LDA will continue to allocate properties in this scheme in accordance with the previously established sector rates.
