Auction Record
LDA E-Auction Raises Over ₹675 Crore for Commercial Plots in CG City (February 2024)
On 7 February 2024, the Lucknow Development Authority (LDA) closed an e-auction that raised over ₹675 crore from the sale of commercial, group housing, school and health-centre plots, with the single largest lot — an 18,962 sq m commercial plot in the CG City Central Business District — selling for ₹180 crore.
| Decision date | 7 February 2024 (results announced) |
|---|---|
| Deciding body | Lucknow Development Authority (LDA) |
| Presiding officer | LDA Chairman Roshan Jacob |
| Total auction value | Over ₹675 crore |
| Top single lot | Plot CP-04, CG City CBD — 18,962.81 sq m for ₹180 crore |
| Other notable lots | School Plot F-3 (₹119 cr), Mix-Use Plot F-1 (₹102 cr), Hospital Plot 7/12A (₹51 cr), Commercial Plot CP-05A (₹45.85 cr) |
| Allotment letter promise | Within 15 days of the ceremony |
| Follow-on auction opened | Commercial properties worth ~₹2,500 crore; registration till 16 February, auction on 20 February 2024 |
| Prior related auction | ₹425 crore raised from CG City commercial plots in November 2023 |
What was decided
The Lucknow Development Authority concluded a commercial e-auction whose results were announced on 7 February 2024. The Lucknow Development Authority (LDA) achieved a significant milestone in real estate with a highly successful e-auction, garnering over INR 675 crore for commercial plots, with various plots including those for group housing, schools, health centres/nursing homes, and mixed-use purposes attracting enthusiastic buyers. The auction covered multiple LDA schemes but its headline transaction was inside the CG City (Chak Gajaria City) Central Business District, part of the larger CG City master plan that also contains the LDA IT City project on Sultanpur Road.
Note on naming: the original press report describes the top lot as being in the "Central Business District Scheme situated in SG City." Independent reporting of the same plot — same size (18,962 sq m) and same price (₹180 crore) — identifies the location as the CG City Central Business District, so "SG City" in the source report is treated here as a naming variant/typo for CG City.
Who decided it, and the process
Chairman Roshan Jacob presided over the distribution of certificates to the allottees during a ceremony and pledged the issuance of allotment letters within a swift timeframe of 15 days, a gesture aimed at instilling confidence and transparency in the process. The sale was conducted through LDA's e-auction portal, the same digital platform the authority uses for its recurring commercial and residential plot sales across Lucknow.
Operative details: the lots and prices
The bulk of the ₹675 crore came from a small number of large commercial, institutional and mixed-use plots inside the CG City Central Business District and adjoining schemes:
- Commercial Plot CP-04 — 18,962.81 sq m sold for ₹180 crore.
- School Plot F-3 — 19,060.62 sq m sold for ₹119 crore.
- Mix-Use Plot F-1 — 13,989.18 sq m sold for ₹102 crore.
- Hospital Plot 7/12A — 8,844.69 sq m sold for ₹51 crore; the same parcel is separately reported as a land parcel covering a substantial 8,844 square meters that fetched more than INR 50 crore for a health-centric use.
- Commercial Plot CP-05A — 5,246.32 sq m sold for ₹45.85 crore.
Beyond CG City, the same auction round included a health-centric space in Gomti Nagar Extension Scheme that sold for over INR 50 crore, plus additional group housing, school and health-centre/nursing-home plots across LDA's other schemes.
Context: this was the second big CG City commercial sale in three months
This was not the first large commercial sale inside CG City. Three months earlier, in November 2023, LDA had sold commercial plots worth 425 crore in CG City. Lucknow Metro had also auctioned its 86 acres of plotted land in CG City in September 2023, which was very well attended. The February 2024 result therefore marked the second major institutional-grade commercial auction in the CG City CBD within a single financial year, reinforcing investor interest in the corridor ahead of residential launches in the wider CG City/IT City township.
Practical effect: what happened next
Two practical, dated consequences followed the 7 February 2024 result:
- Allotment letters: Chairman Roshan Jacob pledged the issuance of allotment letters within a swift timeframe of 15 days of the ceremony — i.e., successful bidders were expected to receive formal allotment paperwork by roughly late February 2024.
- New, larger auction opened immediately: The LDA expanded its e-auction activity by opening the portal for another round featuring commercial properties with a combined valuation of approximately INR 2,500 crore, with interested parties given until February 16 to register for bidding and the e-auction slated for February 20.
As of the February 2024 announcement, this was described in LDA's own communications as an extension of an already-successful digital sales channel rather than a one-off event — the authority has continued to run similar e-auction rounds for CG City, Gomti Nagar, Basant Kunj and other schemes in subsequent months.
Where this sits in the CG City / IT City picture
The auctioned Central Business District plots are a commercial component of the wider CG City (Chak Gajaria City) master plan on Sultanpur Road, of which the LDA IT City technology cluster is the anchor project. LDA IT City is a government-backed, integrated smart township on Sultanpur Road (NH-731), conceived as part of the larger CG City (Chak Gajaria City) master plan, with a dedicated IT/ITeS technology cluster of 100 acres — a ₹1,500 crore investment being developed as a Public-Private Partnership with HCL Technologies. Beyond the IT cluster, the full CG City scheme hosts residential plots, group housing, a Central Business District (CBD), IIIT Lucknow, Medanta-Avadh super-specialty hospital, Edutech City, and other institutional uses — the same category of uses (commercial, school, hospital, mixed-use) that were sold in this auction.
Frequently asked questions
What exactly did the LDA decide on 7 February 2024?
It concluded and announced the results of a commercial e-auction that raised over ₹675 crore, the largest single lot being an 18,962 sq m plot in the CG City Central Business District sold for ₹180 crore.
Is 'SG City' in some reports the same as CG City?
Yes, in this context. The plot described as being in a 'Central Business District Scheme situated in SG City' matches the size and price of the CP-04 plot that other sources identify as located in the CG City Central Business District, so it appears to be a naming variant or reporting error for CG City.
Who chaired the process and what did they promise?
LDA Chairman Roshan Jacob presided over the certificate-distribution ceremony and pledged that allotment letters would be issued to successful bidders within 15 days.
Was this the only large CG City commercial auction around this time?
No. It followed a ₹425 crore CG City commercial auction in November 2023, and preceded a further e-auction round of properties valued at approximately ₹2,500 crore that opened for registration on the same day, with registration closing February 16 and bidding on February 20, 2024.
Does this auction relate directly to LDA IT City?
It is part of the same CG City master plan on Sultanpur Road that contains the LDA IT City technology cluster, though the specific plots auctioned (CP-04, F-3, F-1, 7/12A, CP-05A) were commercial, school, mixed-use and hospital plots in the Central Business District portion of the scheme, not the IT/ITeS cluster itself.
How much land was involved in the top plot sale?
The top plot, Commercial Plot CP-04, measured 18,962.81 square metres and sold for ₹180 crore.