The Lucknow Development Authority (LDA) has revised the payment terms for its Atal Nagar housing scheme, introducing a 10-year instalment plan with a reduced interest rate for buyers. The interest rate has been lowered from 9% to 7%, and the repayment period has been extended from seven years to 10 years, divided into 120 monthly instalments. This move aims to make housing more affordable for residents.
Scheme Details
Located in Devpur Para, the Atal Nagar scheme comprises 2,496 flats across 15 towers, ranging from 12 to 19 floors. Unit sizes vary from 30 square meters to 54.95 square meters, with prices starting at approximately Rs 9.83 lakh. The revised payment terms are effective immediately, as confirmed by LDA vice-chairperson Prathamesh Kumar.
Registration for Unsold Units
Registration is open for 630 unsold units between April 18 and May 17, 2026. These include 539 one-bedroom (1 BHK) and 91 two-bedroom (2 BHK) flats. Applications can be submitted online through the LDA website. The registration fee is Rs 55,658 for 1 BHK units and Rs 1,00,852 for 2 BHK units, which is refundable if no allotment is made.
Benefits for Buyers
The new policy offers significant financial relief to homebuyers. With the reduced interest rate and extended repayment period, monthly instalments become more manageable. For example, a flat priced at Rs 9.83 lakh would now have lower EMI payments compared to the previous 9% interest rate over seven years. This initiative is expected to boost demand for the scheme.
For more information, buyers can visit the LDA official website or contact the authority's office. The LDA continues to focus on providing affordable housing options in Lucknow.
