Lucknow has always been known as the city of Nawabs, kebabs and biryani. Along with that, the old world charm and a natural cultural heritage make Lucknow, the administrative capital of Uttar Pradesh, a major cultural hub in North India. But there’s more to Lucknow than just culture. Widespread economic development in the fields of commerce, aeronautical engineering, tourism etc. has led to massive economic growth of the city. It can no longer be lumped with other Tier II and Tier III towns across the country. Spread over 400 sq. km, Lucknow is fast on its way to become an urban conglomerate.
However, with economic developments comes in problems of infrastructure and whether the city can cope up with them. One primary problem is that of housing. With a steady influx of workers and professionals alike, the city now has to house may more residents that it used to. In addition to that pressures, the city centre i.e. The Chowk and other areas are bursting to the seams with overpopulation and land rates are astronomical there as well.
To cope up with this influx, the focus of housing has been shifting to the suburban areas, which are now overseeing a number of projects cropping up. In fact, apartments in Lucknow can be found only in these areas. The best builders in Lucknow have now set up projects in these suburbs and the rates are escalating here as well. These real estate developers are tapping into the massive demand for housing and coming up with projects in areas near Sitapur, Hardoi etc. The best builders in Lucknow have already conquered Gomtinagar, which once used to be a relatively less developed area, but now is the IT hub of the city.
So, if one desires apartments in Lucknow his best bet would be booking one of these in suburban areas that are overseeing rapid development at an affordable price.
Lucknow, the former city of nawabs is the capital of Uttar Pradesh. A city resplendent with culture and monuments alike, Lucknow has that dreamy charm of the past with its archetypical architecture and gorgeous monuments. In addition to that, the city has seen a beautification drive in the recent years that has made it look more beautiful than it already was. The business scenario in the city is picking up to the extent that the city might be said to be at the epicenter of economic activity in the state. Besides, reputed institutions like the Indian Institute of Management and Dr. Ram Manohar Lohia National Law University are also located in the city.
Given all the above circumstances, Lucknow has witness a massive upsurge in demand in terms of property and land. The city centre is completely cramped and congested and residential flats in these areas are priced exorbitantly. In such a situation where does one find property for sale in Lucknow?
The answer to that question lies in the suburbs. The city authorities have realized the population load on the city and have thus branched out infrastructure facilities to the suburban areas. These suburban areas are now experiencing a lot of construction and development of newer properties. In fact, these suburbs are one of the few areas where one might find a property for sale in Lucknow.
These areas are now sporting residential projects sprouting up frequently with apartments ranging from 1bhk to plush condominiums and even bungalows! However, the demand for a 2 bhk flats in Lucknow is more than say a 1 bhk flat or a huge 4bhk apartment, given the recent rise in nuclear families.
Besides, these flats and apartments are not just for residential purposes. One might invest some money in one these flats and watch his money grow over time. This is because Lucknow’s fast urbanizing landscape is sure to increase the property value of the existing properties.
So, if you need to invest in a 2 bhk flats in Lucknow (or even a 1 bhk or 3 bhk flat for that matter), the various residential projects coming up in suburban areas near Sitapur, Hardoi etc. seem to a very good bet.
In today’s day and age of extreme economic mobilization, companies are tapping in Tier II and Tier III cities to increase growth. Consequently, there has been an upsurge in growth of these so called semi urban cities. Of these, Lucknow, the capital of Uttar Pradesh, is fast shedding its image as a Tier II town and is fast growing into an urban landscape.
The city of Nawabs, Lucknow, has a lot to offer. From arts to culture to architecture to kebabs, the variedness of the city is mind numbing to say the least. However, it would be wrong to call it a city stuck in the past. In fact, the city has this uncanny ability to balance the past and the present with ease, with it being the epicenter of economic activity of the state.
Consequently, there has been a rise in demand for housing. More and more companies are sending their people to Lucknow to tap into the massive market potential and it has resulted in an influx of people in the city. This has resulted into massive congestion in the city centre. In fact, Lucknow’s city centre is the most difficult place to land up a flat in Uttar Pradesh.
The problem of housing is then tackled by the shifting of focus from the city centre to the urban areas. So much so that even the city’s authorities, perturbed by the fact that Lucknow is most difficult place to land up a flat in Uttar Pradesh, are concentrating on the infrastructure of the suburbs. This has lead to many residential projects coming up in these peripheral areas.
These projects offer various types of accommodation and it is now possible to land up even 3 bhk flats in Lucknow thanks to these projects. Ordinarily, 3 bhk flats in Lucknow cost a fortune, but the suburbs offer reasonable prices. So the influx of new people as well the existing population, now have the option of buying up flats at different locations in the suburbs at reasonable prices.
If you think Lucknow is languishing as a just another town in our country, think again. Once referred to as a Tier III town in the country, Lucknow, the erstwhile city of nawabs is fast on its way on becoming an urban conglomerate.
Lucknow, the capital of Uttar Pradesh is known for being culturally defined and its artistic monuments. In addition to the recent beautification of the city that was done in the recent years by the previous government, the rise and growth of real estate developers in Lucknow is noteworthy. This is because in addition of being culturally rich, Lucknow has also become the important epicenter of economic activity of the state with commerce, aeronautical engineering, medicine and tourism industries putting the city on the map.
With a rise in economic activity, has come the cramping of space. Even the city authorities agree that the city centre is cramped to the core and congestion has forced them to think out of the box to accommodate the ever burgeoning population; so much so that it has become well nigh impossible to purchase a plot in Lucknow in its city centre. So, the focus on developing new properties has shifted to the suburbs with city authorities working night and day to fast track the infrastructural development of the peripheries. Here in, come the real estate developers of Lucknow, who have worked in tandem with relocation of focus to the peripheries.
A plot is Lucknow in the peripheries is not very easy to come by too, because of the rising real estate prices. However, compared to the city centre it is much cheaper. So, real estate developers are wooing in more and more buyers because it becomes financially viable for them as well. With areas bordering on Hardoi, Sitapur and Rae Bareilly once dismissed as outskirts emerging as lucrative properties, the developers have come up with massive residential projects in these areas.
The clinching factor- people are moving in droves to buy apartments in these projects not just for residential purposes, but as a future investment as well.
The city that is known as Shiraz-I-Hind or the Golden city, Lucknow’s multicultural effervescence along with the stamp of being the one of most artistic and cultural city in North India along with its propensity towards economic activity makes it a really attractive option to invest in property in Lucknow with assured return.
What makes it so attractive, one might ask?
It’s simple really. Lucknow is a city of many wonders, and is a hot bed of refined cultures, along with architecturally beautiful monuments and a charm that is unrivaled. There is near perfect juxtaposition of the past and the present in the city which seems to pride itself on its cultural past, without losing sight of rapid development in the present. So much so, that the city is the nerve center of economic activity with various industries like finance, aerospace, medicine etc. on the rise. Add to that, the accessibility of the city by various methods of transportation viz, trains, air and road from different parts of the country, and you could already see why Lucknow seems like a good bet to invest in.
Like in any other city, property in Lucknow with assured return needs some amount of research. For example, the Chowk area is completely congested and highly overpriced, so one might not get their ideal return that they might be hoping for. The suburbs however, present a different story.
The Lucknow city authorities themselves have taken note of the cramped situation in Lucknow and are taking the required step of making the peripheral areas away from the city center as infrastructural sound as the nerve center; This and the fact that people with surplus money are looking to invest more and more in properties. This has lead real estate players to develop more and more residential property in Lucknow.
Obviously, the main aim of these residential projects in Lucknow is to house people and not just for investment purposes. But, more and more people are investing their money to get good return when they finally dispose of their properties.
Lucknow, the city of Nawabs, is the administrative capital of the state of Uttar Pradesh. And is at the nerve centre of the country’s one of the largest states in terms of area, population and economy. So the importance of the city cannot be negated.
Till a few years ago, the city was deemed to be a Tier III city. Now, it is a recognized Tier II city and is fast closing the gap between Tier I cities. In fact, the core of the city is so crowded and congested, that the authorities have taken the step of concentrating on development of the suburbs which lie near areas as far as Hardoi, Rae Bareli and Sitapur. And due to this sudden development of interest in these areas, the prices have grown overnight and still keep on increasing. However, it is still attractive enough to be invested in.
Especially to our brethren abroad, nri real estate investment in Lucknow sounds like a good bet. It is the ideal retirement plan for when they would want to return to their homeland and be near their loved ones. Nri real estate investment in Lucknow also gives a shot in the arm to the real estate business. On the whole, the real estate business in India has been experiencing a slowdown of sorts in the recent past. Now, it is all set to change. With the rapid further urbanization of Tier II cities, Lucknow seems to be on top of the list in the cities that will benefit if there is a boom in real estate business in India, which, hopefully, would happen very soon.
In that scenario, if you’re an NRI and hail from Lucknow, and wish to come back to your motherland in a few years from now, or want to gift your family a dwelling befitting of them, now maybe an ideal time to invest in real estate. With a plethora of real estate players now in Lucknow, you would definitely get whatever you require and need- a dwelling of your choice.
From tundey kebabs to elephants, the city of Lucknow has it all. Set in the nerve centre of Uttar Pradesh, Lucknow is the administrative capital of the state of Uttar Pradesh- A state which might be in a political distress of sorts, but nevertheless, progressing steadily economically. And in the middle of the progressions, Lucknow plays a vital role. So much so, that demands of housing in the city has increased manifold and real estate rates in traditional areas have touched the sky. It might seem very nigh difficult to get affordable property in Lucknow.
So where does one go if one cannot purchase real estate in and around Hazratgunj and other traditional areas. To the suburbs of course!
Suburbs like Gomtinagar are one place where one might just be able to land up affordable property in Lucknow. With the economic surge showing no signs of stopping, new residential projects in Lucknow are propping up like mushrooms. This is to keep up with the demand for residential property and a steady influx of people, be it local migrants in search for job, or professionals wanting to the tap into the massive potential that Lucknow promises.
These new residential projects in Lucknow offer state of the art facilities and infrastructure at affordable rates. In fact, these are sprucing up so fast that the prices are staying down and there is a lot of variety when it comes to demand. So, the flats can be almost custom made for your needs= be it a one bedroom studio apartment or a massive four bedroom flat with airy balconies.
So if you’re seriously considering buying a property in Lucknow, give the Chowk and Aminabad a miss. These places are jam packed already and any property there is going to be as costly as kryptonite! Well, almost. Instead, the suburbs seem like the much better bet, where pricing is affordable, local infrastructure is picking up at a fast pace and the scope for growth is immense.