LUCKNOW: Apartment owners in Lucknow and other key cities could come together to take up redevelopment of existing housing societies. On the lines of the metro cities, the redevelopment policy introduced by the state govt recently unlocks the possibility of exploiting the additional space available in a residential layout to create a bigger unit. If two-thirds or more apartment owners staying in a layout measuring more than 1,500 sqmt (16,146 sqft) give their consent, redevelopment of an existing housing society could be taken up to construct a bigger and better apartment.
To make the project financially viable and attractive to the private players interested in opting for redevelopment of existing buildings instead of undertaking a new one, several freebies and incentives will be on offer. The local housing development authority would offer 50% rebate on the development charges, offer an additional FAR (floor area ratio) over the base one, would not levy shelter fees and allow upgrading the land use status for commercial and mixed-use activities, among others. Stamp duty charges too would be exempted by the state govt for such projects.
Principal secretary of the housing and urban development department, P Guruprasad, said, “The policy is aimed at unlocking prime space within urbanised parts of a city. A lot of apartment buildings were constructed in key cities of UP such as Ghaziabad, Lucknow, Kanpur and Varanasi several decades back and have a lot of vacant space available in the compound. Redevelopment of such layouts under the policy would be attractive for all the stakeholders.”
Welcoming the decision, private players said that in the city, Clay Square, Mall Avenue, AP Sen Road, Mahanagar and Aliganj are among some localities where residents could benefit. Notified on Feb 10, the 29 housing development authorities governing real estate and construction activities in key cities of the state are in the process of incorporating the policy.
The authorities would begin an exercise to identify the freehold, leasehold, nazul and govt-owned land parcels in congested parts of a city that were not utilised in an optimum manner. “Bus shelters, workshops, heritage hotels, old govt buildings, hospitals and offices having substantial space would be identified. Industrial units and projects that were shut down owing to disputes, pollution norms or other reasons too could opt for redevelopment,” said an engineer from Lucknow Development Authority, deputed in Mahanagar.
