UP Metro plans to commercialise Lucknow LDA land

22 Dec 2022 CW Team

The Uttar Pradesh Metro Rail Corporation (UPMRC) will soon start developing the land given to it by the Local Development Authority in CG City, Lucknow. On the orders from the state government, the process of selection of consultant architect has begun for the development of assets on the 86.83 acres of land received from the LDA.

According to officials, the plan is to develop both residential and commercial properties in this patch of land. These properties will be developed so that maximum income is generated for UPMRC.

The CG City property is very important for Lucknow Metro’s commercial viability, so that they can keep passenger fares down. At present, the metro runs between 21 stations covering a distance of 22.8 km from the airport to Munshi Pulia in the capital. The fare has not been revised since the commencement of commercial runs. However, there is constant pressure to increase fares. Keeping this in view, UPMRC is trying to generate income from other sources.

Meanwhile, the selection process of development consultant for the land is expected to be completed next month. After this, the work of making project design and detailed project report (DPR) will start. Metro plans to start the construction work on land in 2024.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..