Housing Board and LDA to Sell Flats Cheaply in UP: Opportunity to Buy Flat Cheaply
The Yogi Adityanath-led government in Uttar Pradesh is going to sell houses and flats at discounted rates. The Uttar Pradesh Housing Board has a large inventory of unsold flats, which has led to the introduction of the discount scheme. Buyers will receive a direct discount of 15% on purchasing these flats, but they will have to pay the full cost of the flat within 60 days. This concession will be available until November 15, 2023.
Cities like Ghaziabad, Lucknow, Kanpur, and Meerut have a significant number of unsold flats, with around 8,000 flats lying vacant in total. The Housing Board will give a 15% discount to the buyers of these flats. In the Avadh Vihar and Vrindavan schemes of the Housing Board in Lucknow, around 1,742 flats are vacant. Ghaziabad also has a high number of vacant flats, with 4,407 flats up for sale. Similarly, around 1,910 flats are lying vacant in Meerut, and there are 241 and 103 vacant flats in Kanpur and Moradabad, respectively.
The flats of the board are not being sold due to their high cost, and the LDA is also facing the same problem, with about 4,000 of its flats remaining unsold. Development authority flats are about 20% more expensive than those from private developers, with LDA flats being sold at the rate of Rs 3,800 to Rs 5,500 per sq ft, while private developers are offering flats at cheaper rates and in better condition.
To solve this problem, the flats of the Housing Board and LDA will now be sold at cheaper rates. The move is expected to provide relief to buyers who have been struggling to find affordable housing. The Yogi Adityanath government has been taking several steps to increase the availability of affordable housing for people in the state.
In conclusion, the discount scheme is a significant step towards making housing more affordable for people in Uttar Pradesh. The availability of cheaper flats will benefit those who are looking for a home but are unable to afford one due to high prices.
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