Lucknow: Lucknow Development Authority (LDA) will redevelop the four-decade-old Kailashkunj Commercial Complex located in Indira Nagar, Ayodhya Road, into a mixed-use high-rise with commercial spaces and residential flats at an estimated cost of Rs 110 crore.Spread over 6,046 square metres, the complex houses around 280 shops but has become dilapidated, with several vacant units and encroachments in common and parking areas.Officials said the old structure will be demolished to construct a 13-storey, 45-metre-high building. The lower floors will have shops and offices, while upper floors will have 3BHK flats.LDA has begun consultations with allottees, who will get 1.25 times their existing area in the new complex.The project will be executed by LDA instead of a PPP model. Similar redevelopment is planned for complexes in Aliganj and Gomti Nagar.LDA vice-chairman, Prathamesh Kumar, said redevelopment of prime-location complexes will create better commercial hubs with modern amenities.
