LUCKNOW, Oct. 1 -- Nearly 18 years after the Lucknow Development Authority (LDA) first proposed the Prabandh Nagar residential scheme, the project has moved a step closer to revival with the Land Acquisition, Rehabilitation and Resettlement Authority (LARA) court fixing a fresh compensation rate of Rs.1.10 crore per bigha for the land covered by the scheme. The revised compensation has addressed a key hurdle that had kept the proposed mega housing project in limbo for years. However, the LDA will first assess whether the scheme remains financially viable at the enhanced compensation rate before seeking approval from its board. LDA vice-chairman Prathamesh Kumar on Wednesday constituted a committee headed by joint secretary Arvind Upadhyay to examine the financial implications of the revised compensation. The panel has been given 15 days to calculate the additional expenditure and assess the overall income-expenditure structure of the scheme. LDA secretary Sushil Pratap Singh said the committee would assess the financial burden created by the revised compensation and submit its findings within the stipulated period. The authority will then proceed according to the board's decision. After examining the report, the LDA will place the proposal before its board for approval and subsequently take up the development work....