In the heart of ‘babudom’, the city of nawabs is still being built by the government, while private players remain on the periphery, says avinash mishra
Talking to B&E, Authority’s vice president Mukesh Meshram said, “We have close to hundred fifty thousand properties across the cityand we are developing them in a phased manner. Currently, we are in the process of developing 3,000 flats in Gomati Nagar, 5,000 flats under Sulabh Awas Yojna, 5,000 flats under Golden Installment scheme and 1,000 flats under Shristi scheme.” He further added that under the Kanpur Road project, 5000 flats are being developed in Mansarovar area under Sunrise Apartment scheme. Also, demand estimation has been called for in Gahru Village, Basant Kunj and Para areas which will have low-rise apartments mostly of ground plus four set up.
Given the bad reputation of the private builders , people in Lucknow prefer buying poperty from the Authority. Companies like Omaxe, Parsvnath et al have failed to complete their respective projects in Vibhutikhand area. The flats that were to be ready for possession in 2009 are nowhere near completion and those who made the mistake of booking their flats are often seen running from pillar to post, all in vain. Talking to B&E, Jaikesh Tripathi , Director, Pragati Colonizers, said, “The real estate market in Lucknow is Authority and Housing Board based. That’s why people are more inclined towards their properties. Private builders are still to establish confidence among buyers. They are involved in various irregularities and flaunt standards at will. Also, they use sub-standard material and set premium prices.” Consider the case of Ashiana Colony by Ansal Group. There are no sewer lines laid nor have roads been constructed. Everyday, residents take out agitation marches but nobody gives two hoots about it. However, given the ‘Babudom’ culture, flats are not that popular here. Having said that, really, it’s got to start sometime, somewhere!
Given the bad reputation of the private builders , people in Lucknow prefer buying poperty from the Authority. Companies like Omaxe, Parsvnath et al have failed to complete their respective projects in Vibhutikhand area. The flats that were to be ready for possession in 2009 are nowhere near completion and those who made the mistake of booking their flats are often seen running from pillar to post, all in vain. Talking to B&E, Jaikesh Tripathi , Director, Pragati Colonizers, said, “The real estate market in Lucknow is Authority and Housing Board based. That’s why people are more inclined towards their properties. Private builders are still to establish confidence among buyers. They are involved in various irregularities and flaunt standards at will. Also, they use sub-standard material and set premium prices.” Consider the case of Ashiana Colony by Ansal Group. There are no sewer lines laid nor have roads been constructed. Everyday, residents take out agitation marches but nobody gives two hoots about it. However, given the ‘Babudom’ culture, flats are not that popular here. Having said that, really, it’s got to start sometime, somewhere!
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
Prof. Rajita Chaudhuri's Website
domain-b.com : IIPM ranked ahead of IIMs
Arindam Chaudhuri's Portfolio - he is at his candid best by Society Magazine
IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM's Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
IIPM B-School Detail