Ziya
Share
The Lucknow Development Authority or LDA has taken a significant decision that will directly impact property owners and builders situated along the Lucknow Metro corridor. During a recent high level board meeting the administration approved a proposal to impose a special amenities fee on buildings and plots located near the metro route. This decision aims to generate revenue for the development authority which can then be utilized to further enhance the urban infrastructure and maintenance of the city. The rationale behind this move is that properties near the metro stations have seen a substantial appreciation in value due to better connectivity and therefore the owners should contribute towards the developmental costs.
This new rule dictates that individuals or developers seeking map approval for new constructions or commercial complexes within a specific radius of the metro line will now have to pay this additional betterment charge. The LDA officials discussed that the state government had previously invested heavily in the metro project and this fee serves as a mechanism to recover some of that investment while ensuring sustained growth for the region. The decision is expected to increase the overall cost of property and housing in the areas adjacent to the metro network as developers are likely to pass this financial burden onto the end buyers.
Apart from the metro fee the board meeting also covered several other agenda items regarding city planning and the regulation of illegal colonies. The authorities emphasized the need to strictly enforce building bylaws to prevent haphazard construction across the state capital. By levying this special amenities charge the LDA hopes to streamline the funding for future public transport projects and ensure that the beneficiaries of such modern facilities play a part in the economic ecosystem of the city. Real estate experts believe that while this might increase initial costs it could also lead to more organized development along the transit corridors in the long run.
Read More: Lucknow Development Authority to Impose Special Fee on Properties Near Metro Route
