June 5, 2023: Nearly 8,000 flats of the UP Housing Board are lying vacant in several cities across Uttar Pradesh, including Lucknow, Kanpur, Ghaziabad and Meerut, according to a report by Hindustan Times. Neeraj Shukla, additional housing commissioner and secretary, Housing Board has said that the Board had decided to offer a 15% rebate to the buyers of these flats, the report mentioned.
However, the concession will be available to buyers who pay the entire cost of the flat within 60 days of its purchase. Moreover, this concession would be available till November 15, 2023.
According to officials, the Housing Board has not been able to sell its flats owing to high costs. The number of flats lying vacant in Ghaziabad is 4,407. In Meerut, 1,910 flats are lying vacant in various schemes, while in Kanpur and Moradabad, 241 and 103 flats are lying vacant, respectively. In Lucknow, 1,742 flats are lying vacant in the Housing Board’s Awadh Vihar and Vrindavan schemes.
The Lucknow Development Authority (LDA) is unable to sell more than 4,000 of its flats owing to high cost as compared to private developers, lack of facilities and unkempt common area. LDA is offering flats at the rate of Rs 3,800 to Rs 5,500 per sq foot, while private developers are offering flats at lower rates and in better condition.
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Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.
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