The Lucknow Growth Authority (LDA) could quickly pull the plug on its a lot delayed ‘Second Innings Home’ mission situated within the Viraj Khand space of the state capital, after failing twice to draw non-public builders regardless of providing land and infrastructure associated help.
A consultant design of the Second Innings house within the Viraj Khand, Gomti Nagar, in Lucknow. (Sourced)
The Second Innings House is a housing scheme solely designed for senior residents.
Senior LDA officers confirmed that the authority will make one remaining try by releasing a contemporary re-tender. Nevertheless, if no developer exhibits curiosity once more, the scheme shall be scrapped altogether. The mission, which was on a public non-public partnership mannequin, didn’t see any participation from the non-public actual property builders.
“We will re-invite tenders for the project shortly and if the work gets allocated then it will begin. If there is no participation this time as well, we will be forced to take a final call on the project,” mentioned LDA vice-chairman Prathamesh Kumar on Monday.
Geared toward residents above 60
The Second Innings Dwelling scheme was launched in the course of the tenure of former LDA vice-chairman Indramani Tripathi. It was conceived as a first-of-its-kind housing mannequin in Lucknow for individuals aged 60 and above, providing a safe and community-oriented setting tailor-made to their wants, claims an LDA official.
Unfold over a complete space of round 8,438 sq. meters (together with open inexperienced areas and a pond), the mission includes a proposed 12-storey residential advanced providing 100 flats in two classes – Kind A (70 sq. meters with caretaker facility) and Kind B (52 sq. meters with out caretaker).
The scheme additionally features a G+3 clubhouse, a G+1 industrial constructing, landscaped parks, automotive parking, and primary medical and leisure facilities. In accordance with officers, the flats had been to be bought by the LDA portal underneath a set worth construction, with the builder sharing a proportion of the income with LDA.
Why builders are hesitant
Regardless of the promising idea, the scheme has seen no takers within the earlier bidding of the mission to date. The LDA floated tenders twice however did not obtain even a single bid. Officers imagine the scheme’s area of interest goal group and the stringent builder-agreement mannequin discouraged non-public participation.
“The main issue is the limited target audience, only senior citizens and the financial model. The builder has to construct on LDA’s land and sell flats at LDA-approved rates, which reduces profit margins and market flexibility,” a senior LDA official defined.
He added that a number of inner displays and evaluations have been held over the past two years, however no ground-level progress has been made.
Questions on intent
The scheme, which as soon as held the promise of turning into a mannequin for senior-friendly housing, has been caught in limbo for over two years. Officers who had initially pitched the mission as a possible high-demand phase now admit that the delays have broken its momentum.
“This could have been one of our fastest-selling schemes. With an ageing population and growing demand for secure retirement housing, the project was timely. Unfortunately, the execution model is what failed,” the official added.
With LDA now specializing in different housing tasks underneath extra versatile public-private partnership fashions, the Second Innings Dwelling has slipped down the precedence listing. If the third spherical of bidding additionally fails to yield outcomes, officers say the mission will doubtless be scrapped.