Lucknow, Dec 13 (IANS): Lucknow is all set to get a state-of-the art international cricket stadium by the first quarter of 2017, a government official said Friday.

A senior official in the housing department told IANS that a government order has already been issued for the stadium and a sports complex that will be built in a 67-acre real estate development zone.

"The stadium would be built on a public-private-partnership model and the developer has been mandated to complete all work by the end of the first quarter of 2017. In case the developer fails to do so, a penalty of Rs.5 lakh a day would be slapped on them," the official said on the condition of anonymity.

The stadium would come up at Mastemau and Ardaunamau villages near the Chak Gajaria area that has witnessed some rapid real estate development under the Akhilesh Yadav-led government.

The developer will get to manage the stadium for 35 years after which it would be handed over to the Uttar Pradesh Sports Directorate.

The technical bids for the stadium would be opened December 23. The land use for the real estate zone includes 25 percent residential and 75 per cent institutional and commercial area.

The project was announced by chief minister Akhilesh Yadav soon after the Samajwadi Party stormed to power in March last year. But the project was delayed due to the nitty-gritty and lack of interest by developers.