ANNOUNCEMENTS
The arterial road titled “Green Corridor” has been conceptualized by Lucknow Development Authority to develop on both bank of river Gomti for a stretch of 27kms in the city of Lucknow. It is currently in the design phase, and envisages to smoothen the traffic flow of the city. The project road goes through many important areas of the city including the core areas and the new development in the outer periphery. This creates new opportunities for the city to improve its urban profile. As part of this study, the report intends to explore the possibilities the project entails in terms of city competitiveness and real estate development. Green Corridor has been conceptualized not just as an urban transport project but instead as a complete urban development project.
The report explores the possibility of pedestrianizing the core heritage area of Lucknow, the opportunity for which has been created by the alignment of Green Corridor passing along the zone. By addressing few challenges such as limited availability of space and clearance of encroached areas, a new traffic flow plan has been devised that has the potential to revive the heritage zone and tourism sector of the city.
Another objective explored by the report is preparing a financial model for implementation of Green Corridor. New innovative financing mechanisms have been used to prepare the fiscal plan and generating funds for capital expenditure. The project will be implemented on a PPP mode as a joint venture which may generate a constant revenue stream for LDA.
The Green Corridor project opens up new avenue for development on the city, giving it a competitive advantage over other cities. It can become the lifeline of moment in the city and has a potential to become the backbone for setting up a robust public transportation system in the city.
Keywords: Urban Transport, Urban Development, riverfront, financial model, heritage.
