Lucknow Development Body Generates Rs 4.50 Bn from E-auction

13 Jan 2025 CW Team

The Lucknow Development Authority (LDA) raised over Rs 4.50 billion from its latest e-auction, with properties attracting bids that were more than three times their reserve prices. The auction, held on January 7, followed a registration period from November 11, 2024, to January 3, 2025, and saw the sale of 59 out of 325 properties.

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.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..