LUCKNOW, April 30 -- The Uttar Pradesh Housing and Development Board (Awas Vikas Parishad) on Wednesday approved a Rs 4,173.65 crore budget for 2026-27, cleared land acquisition proposals worth over Rs 4,500 crore in Varanasi and Mau, and adopted a policy to bring private investment into IT parks and commercial infrastructure projects, Chandan Patel, deputy housing commissioner confirmed. The decisions were taken during the board's 275th meeting chaired by principal secretary (housing) P Guru Prasad, where members also approved the sale of nearly 7,000 unsold flats and took disciplinary action against two retired engineers in separate cases involving alleged financial irregularities. The board approved estimated receipts of Rs 4,173.65 crore for the financial year 2026-27 and pegged expenditure at Rs 4,048.65 crore. A major portion of the expenditure, Rs 1,927.15 crore, has been allocated for land acquisition. Of this, Rs 1,037.89 crore has been earmarked for projects in Ayodhya, reflecting the board's continued focus on housing and infrastructure development linked to the city. The board also approved Rs 702.63 crore for construction, development, maintenance and establishment-related works, while Rs 750.27 crore was allocated for deposit works. Officials said projected revenue for the financial year will largely come from asset sales and deposit works. The board approved land acquisition worth around Rs 3,141 crore in Varanasi under the Kashidwar Land Development and Housing Scheme. Land will be purchased through mutual agreements with landowners across 10 villages, including Pindra, Pindrai, Samogra and Basni, based on rates fixed by the district magistrate. Another proposal worth Rs 1,391 crore was approved in Mau under the Gorakhpur Marg scheme, covering villages including Sahroj and Revaridih. Additionally, the board cleared acquisition of 4.687 hectares for the GT Road Bypass project in Varanasi to develop an approach road aimed at improving connectivity to upcoming housing schemes. In a policy decision, the board adopted the state government's Private Business Park Scheme 2025 to facilitate private participation in development of IT parks and commercial infrastructure. As part of the move, the IT City project in Sector 15 of Vrindavan Yojana in Lucknow will now be disposed of under the new policy. Pallavi Mishra, deputy housing commissioner, said an MoU will be signed and plots will be handed over for development under a public-private partnership (PPP) model with revenue sharing. Officials said the move is expected to attract private developers and accelerate creation of business infrastructure in the state capital. The board also approved the sale of nearly 7,000 flats lying unsold across various housing schemes for several years. A final decision on reducing the prices of these units was deferred. A committee will submit recommendations on pricing, after which the matter will be placed before the board again. The board reviewed the first phase of the Kashidwar scheme in Varanasi, spread over 374 hectares. After excluding religious structures and other constructions, the board approved development over 270 hectares. Officials said the forest department has already granted clearance for 18.24 hectares, enabling phased implementation of the project. The board approved disciplinary action in two cases linked to alleged financial losses. A 5% lifelong pension cut was imposed on a retired superintending sngineer in connection with alleged irregularities in Rs 8 crore tenders under the infrastructure fund in Agra. The case involved the alleged unauthorised recovery of nearly Rs 1.25 crore from contractors. In another case, a 10% pension deduction was imposed on a retired executive engineer for allegedly failing to take timely possession of a commercial plot in Indira Nagar, Lucknow....