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.