Lucknow Development Body Generates Rs 4.50 Bn from E-auction

Among the highlights was a plot in Gomtinagar Extension's Sector-4, initially valued at Rs 10.33 million, which sold for Rs 40.48 million. Another notable sale was a Rs 1-billion group housing plot near Rashtriya Prerna Sthal in Basant Kunj, which is expected to promote significant residential development. Fine-dine plots within the CBD scheme also saw high demand, with one selling for Rs 150.35 million.

Additional Secretary Gyanendra Verma noted that there was strong demand for commercial plots, which sold for 20–25 per cent above their reserve prices. He also pointed out that the transparent process demonstrated the LDA's capability to attract buyers and foster development in Lucknow. LDA Vice Chairman Prathamesh Kumar highlighted that the auction's success could be attributed to effective promotional efforts, site visits, and a streamlined single-window system for prompt approvals and allocation letters.