Smart township project spanning 80 acres launched in Lucknow.

A mega smart township project spanning 80 acres has been launched in Lucknow on Lucknow-Kanpur highway.

The project 'Paarth Republic' would comprise almost 4,500 residential units belonging to different categories, apart from shopping and commercial complexes. Almost 900 units would be constructed for economically weaker sections (EWS) and low income group (LIG) categories as mandated by the government.

'We have the land under our possession and expect to start delivering flats in 3-4 years, although the entire project would take 6-7 years to complete given the size of the township,' Paarth Infrabuild CMD Pradeep Misra told Business Standard.

He said the company had tied up with financial institutions to fund the project, which is expected to cost over Rs 4,000 crore. Of 80 acres, 57 acres have been earmarked for residential development, while 23 acres would account for mixed land use.

'This would be the first smart city project in this region to provide smart solutions with regard to transport, sewage treatment plant (STP), urban lighting, telemedicine, maintenance, power, security etc,' he informed.

BS