Tag: Lucknow

Latest StoriesRegulatory

ED Seizes ₹313.12 Crore in Ansal Group Money Laundering Case

NEW DELHI: On Wednesday, the Enforcement Directorate (ED) announced the attachment of immovable properties valued at ₹313.12 crore as part of its ongoing probe into Ansal Properties and Infrastructure Ltd (APIL) and its promoters. This action stems from allegations of financial misappropriation and fraudulent diversion of funds collected from homebuyers. These properties include residential land parcels totaling 9.08 hectares, situated in Agra, Uttar Pradesh, and are registered under the names of companies affiliated with APIL. The ED’s Lucknow zonal office executed the attachment under the Prevention of Money Laundering Act (PMLA), 2002. The investigation was prompted by 278 FIRs lodged…

Latest StoriesResidential

Uttar Pradesh Introduces OTS Scheme for Property Defaulters

LUCKNOW: The housing development authorities in Uttar Pradesh are set to introduce a one-time settlement scheme aimed at allowing defaulters the opportunity to settle their debts. The cabinet has given the green light for this scheme, which is designed to stimulate the real estate market and recover overdue payments from buyers who owe money to organizations such as the Lucknow Development Authority and Kanpur Development Authority. This scheme will be applicable for settling debts that have accrued from the purchase of various types of properties, including residential, commercial, mixed-use, and institutional sectors. Currently, there are 18,982 pending default cases with…

Latest StoriesResidential

Ownership Verification Required Before Property Registration in UP

LUCKNOW: On Tuesday, the Cabinet made a significant decision regarding property sales registration, mandating the stamp and registration department to verify property ownership details prior to registration. Ravindra Jaiswal, the Minister of State (Independent) for Stamp and Registration, stated that new rules will soon be established to require verification of ‘khatauni’ (land records) and ownership documents before registration, aiming to eliminate fraudulent or contested land registrations. “We have encountered multiple instances where properties are sold by individuals who are not the legitimate owners, including prohibited or restricted properties, properties sold beyond legal ownership rights, and even those owned by the…

Latest StoriesResidential

Uttar Pradesh Cabinet Greenlights Affordable Housing Policy

LUCKNOW: On Tuesday, the state cabinet approved a new policy to implement affordable housing initiatives under the Pradhan Mantri Awas Yojana-Urban 2.0, including affordable housing in partnership (AHP) and affordable rental housing (ARH) components. The initiative aims to provide accessible housing for middle-income and economically weaker sections of society. Beneficiaries will receive financial aid of Rs 1.5 lakh from the Centre and Rs 1 lakh from the state government. Additionally, developers of approved projects will benefit from exemptions on land-use change charges, map approval fees, and external development fees. Beneficiaries will also enjoy reduced stamp duty rates. Under the ARH…

Latest StoriesRegulatory

Lucknow Civic Body Seals Seven Establishments for Tax Dues

LUCKNOW: On Monday, the Lucknow Municipal Corporation (LMC) sealed seven establishments across zones 2 and 4 as part of a drive to recover outstanding property and house tax from major defaulters. In zone 4, three government-sector buildings were sealed due to significant tax arrears. Zonal officer Shilpa Kumari stated that these institutions had received multiple notices to clear their dues, but payments were not forthcoming. The sealing process was initiated in accordance with municipal regulations. According to records, these three establishments collectively owe more than Rs 1.5 crore in property taxes. Officials confirmed that the enforcement team carried out the…

Latest StoriesResidential

Lucknow: 549 Plots Assigned in LDA’s IT City Scheme

Representative AI image LUCKNOW: The Lucknow Development Authority (LDA) organized a lottery draw for the distribution of developed residential plots to farmers and landowners who contributed their land under the land pooling policy for the IT City project. The draw took place on Monday at the Mars auditorium in Indira Gandhi Pratishthan, where applicants were invited to participate, and it was also streamed live on YouTube. LDA vice-chairman Prathamesh Kumar announced that the scheme is being developed on approximately 3,490 acres along Sultanpur road. Only landowners who signed agreements with the LDA by January 31 were included in the lottery.…

Latest StoriesRera

UP-RERA fines Lucknow builders ₹2.43 crore for QPR delays

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has levied a fine of ₹2.43 crore on two Lucknow-based promoters for their repeated failure to upload mandatory quarterly progress reports (QPR) of their registered projects on the authority’s web portal. In one instance, promoter Shushil Kumar Katiyar of the Arpita Infinity project has faced penalties. This project, registered with a start date of July 10, 2024, and an expected completion by January 31, 2027, did not adhere to uploading the necessary progress reports despite receiving multiple notices from UP-RERA. Consequently, the authority sanctioned a fine of ₹16.25 lakh, which…

Latest StoriesResidential

Park View Apartments by Lucknow Development Body: 364 Flats

Representative AI image LUCKNOW: The Lucknow Development Authority is set to construct the Park View apartments in the Basant Kunj scheme, located near Rashtra Prerna Sthal, comprising 364 premium flats. This complex will be in proximity to densely populated areas of old Lucknow and will connect to the Green Corridor, IIM Road, Dubagga Road, and Chowk. Registration for the flats will be open from March 7 to April 6, with applications accepted solely through the LDA website. Allotment will follow a lottery system, and officials stated that the project received approval following positive feedback from an online demand survey. The…

IndustryLatest Stories

Uttar Pradesh: Water Bodies Required for 10-Acre Projects

Representative AI image LUCKNOW: The housing department has mandated that construction firms and individuals undertaking residential, commercial, mixed-use, or other real estate projects of 10 acres or more must allocate 1% of the land for a waterbody. This initiative aims to enhance groundwater recharge, as the water from the reservoir will be recycled for non-potable purposes like cleaning, green maintenance, and dust suppression. While existing provisions for rainwater conservation in group housing projects are present, incorporating a waterbody in the layout will facilitate water diversion and recycling for diverse daily needs. Senior officials from the department emphasized their goal of…

CommercialLatest Stories

Lucknow: IT City Plot Allotment Lottery on Feb 28

LUCKNOW: The Lucknow Development Authority is set to launch the IT City housing scheme on Sultanpur Road on February 28, starting with the allotment of developed plots to landowners under the land pooling policy. A total of 870 residential plots will be allocated to 336 farmers who contributed land to the project, with allotments conducted via a lottery system. The draw will take place in the presence of the landowners at the Indira Gandhi Prathishthan. The initial phase will offer plots ranging from 35 sq m to 288 sq m. After allotment to land pooling beneficiaries, the remaining plots will…