India is becoming a chosen destination for the NRI (Non Resident Indian) investors. Since they earn in foreign currency, when they convert it in Indian Rupees, the value increases. Hence they prefer to invest in Indian real estate as they have a desire to return back to India someday. NRI real estate investment in Lucknow has grown manifolds in the last few years due to various factors.
After the Modi government announced that all the state capitals will be considered for the 100 Mega City projects, Lucknow is also gearing up for that growth. Many MNCs are expanding their businesses and Lucknow is a chosen destination for many companies which want to set up their delivery centers in Northern India. It has a cost arbitrage over Delhi and good educated professionals are easily available in the city.
The market is again picking up after the new government has taken over. Due to policy paralysis, the last few years were bad for the real estate industry. They were reeling under the pressure of huge debts and liquidity crunch. Now the market is again reviving and real estate business in India is seeing a positive curve.
These projects are located near the IT corridor and the airport, Nirman Nigam, the Cricket stadium and many other prime locations of the city. Hence finding tenants is very easy in this project. NRIs love to invest in luxury apartments in Lucknow as they will get assured return on investment.
NRIs prefer to lease out the property to a corporate who would like to set up a guest house for the company there. Since the property is loaded with amenities like club facilities, swimming pool, Sauna, Steam, Jacuzzi, Gymnasium, Provision for business lounge etc. the companies prefer to take up an apartment here on lease.
I would recommend that if you are an NRI and you take interest in the real estate business in India, the look no further. Invest your hard earned money here and you will never regret your decision.