LUCKNOW, May 31 -- Allottees who paid for plots but never received possession from the Lucknow Development Authority (LDA) can benefit from a policy offering flats in exchange, officials said. The deposited amount, along with accrued interest, will be adjusted towards the cost of the flat, they added.

This new policy was introduced after the LDA discontinued its plot-to-plot exchange policy in 2023, citing limited availability of vacant land.

Under the new policy, the LDA uses a formula to calculate the adjusted value of the allotted plot, the interest accrued over time, and the cost of constructing a flat. Based on this calculation, the allottee is required to pay only the balance amount, which officials say could be up to 38-40% less ...