Omaxe to develop hi-tech township in Lucknow
Omaxe Ltd will develop a Hi-tech township spread over approximately 2700 acres in the heart of Uttar Pradesh in Lucknow. Garv Buildtech Pvt Ltd, a subsidiary of Omaxe, has entered into a Memorandum of Understanding to develop the said Hi-tech township in Lucknow.
The Hi-Tech Township which is expected to yield estimated revenue of over Rs 2800 crore will be executed over a period of 5-7 years and is slated to cater to the growing demand of quality living space in the city. The township is strategically located on the proposed Lucknow Ring Road in close proximity to Lucknow Airport and only half an hour drive from Hazratganj, center of Lucknow city.
Earlier, Omaxe through its subsidiaries had signed MOU with Allahabad Development Authority in July 2009 for the development of Hi-Tech Township at Allahabad on approx. 1535 acres and with Bulandshahar Development Authority to develop a Hi-tech Township over an area of 3601.19 Acres (approx.) in NCR adjoining Greater Noida in Buladshahar, Uttar Pradesh in the first week of September 2009. Omaxe intends to generate revenue of over Rs 12,500 crores over a period of 5-7 years with these three Hi-tech townships.
With the growing popularity of the Lucknow as ideal destination for commercial activity and employment opportunities, the Hi tech township is being developed in a flexible mode so that future growth and change can be accommodated easily.
The township in Lucknow promises to be unique in itself by offering state of the art facilities to meet the growing aspirations of the customers. With a CBD within itself, the township will create effective employment opportunities in specially designed finance, trade and commerce development zones. A commercial hub, the township is also proposed to have software technology parks, hi-tech industrial parks and scientific & engineering instrumentation zones.