The Uttar Pradesh government is hammering out an integrated township policy to promote the realty sector and attract private investment.
The proposed policy will be framed by the end of this month and implemented in earnest. The state is looking to announce the policy before the proposed UP global investor summit in January 2023 for greater traction.
In a recent review meeting, chief minister Yogi Adityanath had stressed there was immense growth potential in the realty sector and that a contemporary township policy was the need of hour.
The UP government is targetting to net private investment of Rs 10 trillion at the 2023 global summit.
Over the past few years, UP has garnered investment to the tune of Rs 31,000 crore in various housing and integrated township projects.
Meanwhile, the Yogi government 2.0 has underlined a ‘zero tolerance’ against surreptitious land deals in realty. The development authorities and urban civic bodies have been asked to weed out illegal settlements and swoop down upon unplanned development.
To achieve the goal of becoming a $trillion economy, UP is fostering the pace of urbanisation. The new policy is aimed at securing investment and generating employment.
The upcoming townships in UP will be developed to cater the requirements of the next 50 years. The development authorities have been directed to ensure their projects are self sustainable in the long run.
Moreover, the Yogi government has affirmed to develop Lucknow as a State Capital Region on the lines of National Capital Region (NCR) of the Delhi-NCR territory.
The proposed Lucknow-SCR will comprise seven districts viz. Lucknow, Unnao, Sitapur, Rae Bareli, Barabanki, Kanpur Nagar and Kanpur Dehat.
An expert group will examine all the dimensions before a detailed report is submitted to the state government.