LMC to float corporate bonds to fund housing project

housing for all by 2022By Accommodation Times Bureau


The Lucknow Municipal Corporation (LMC) house meeting on Thursday will take the decision on a subject like floating of a corporate bond for building a housing project on Rae Bareli Road, water meters, etc.

The House meeting will be focused on important development issues like repair of potholed roads, fogging, drain’s cleaning, etc. This is the first House meeting after civic polls.

LMC’s proposal of floating municipal bonds will be approved by House. The House will approve bonds of Rs 100 crore to build a housing project near SGPGI. The flats will be for all income groups and affordable housing for lower income group (LIG) and it will be self-financed flats. The range of flat will be from Rs 10.5 Lakh to Rs 64 lakhs.

Another major decision of House is to develop smart parking solutions at LMC’s parking facilities the three LMC’s parking facilities include Jhandewala in Aminabad and Jhandiwala and Dayanidhan in Lalbagh. The smart parking will be will be run by private operators and it will be equipped with modern technology.

The LMC will get 42% share of the total parking fee collected.

Lucknow Municipal Corporation is the Municipal Corporation responsible for the civic infrastructure and administration of the city of Lucknow, Uttar Pradesh

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