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3/22/2019

Property Trends and Infrastructure Development in Lucknow

Lucknow, also popularly known as the Nawabi city of Uttar Pradesh has never failed to attract people. Gradually turning into a medical tourism hub, Lucknow already has a wealth of culture and business prospects. The city’s proximity to strategic locations and infrastructure is also worth mentioning. The real estate scenario in Lucknow has in the recent past received interest from people living outside of the city as well as NRIs. The property market here gives home buyers the option of affordable, mid-segment and luxury homes. According to the experts, if you are looking at an investment in the city, go with the most preferred strategic locations as you could fetch a good return on investment.

Industry insiders in Lucknow, especially the ones dealing with prospective buyers on a day to day basis are of the view that property markets in the Uttar Pradesh capital are witnessing an active demand for homes. Also, investors from cities such as Allahabad, Bahraich, Barabanki, Kanpur, Sitapur, Sultanpur, Varanasi and Unnao at present are considering Lucknow as their new property bet. The city is garnering attention every day, and the need for lifestyle and wellness homes is just progressively moving forward. Considering the population of the city, migration from outside as well as from within is a natural phenomenon. While many outsiders have set small and big businesses here, others have actively put their money in their second homes in the city.

Both from an end user's and an investor’s perspective, Lucknow works out for a good investment. At present, there are close to 1,300 ready-to-move properties, 154 are under construction, and some new launches on the way in the Nawabi city. Top localities in Lucknow include Gomti Nagar Extension, Sushant Golf City, Sarojini Nagar, Vrindavan Yojna, Miranpur Pinvat based on the liveability and infrastructure scores in these areas which is above 9 on a scale of 10. Gomti Nagar Extension has residential properties like NMBPL Tower Service Suites, Rishita Manhattan, Paarth Aadyant with starting price at ₹ 36* Lacs for a 2 BHK apartment. Rishita Mulberry is the best residential project in Sushant Golf City. Paarth Infrabuild Private Limited presents two properties in Sarojini Nagar - Paarth Humming Retreat, and Paarth Humming State. Tulsiani Luvnest offers spacious and ventilated 2/ 3 BHK apartments as one of the best choices in Vrindavan Yojna. Paarth Infrabuild Developers have various ongoing projects in Miranpur Pinvat to cater to the needs of all kinds of people.

Being a hub of affordable housing makes Lucknow an attractive city for investment in properties. There are other factors that contribute to the city's popularity. It is one of the fastest growing cities in the country with its Metro network and the expressway. The scope for medical-tourism has also gone up impressively. Considering its development, job opportunities are growing as well as opportunities for business communities. The city has a rich supply of cost-effective properties by renowned developers. There are plot-based projects, ready-to-move-flats, under-construction properties, luxury villas available in the market.

The developers have constructed these residential properties in the green landscape to enable the residents to enjoy the benefit of living in greens. The properties are strategically located while providing excellent connectivity. Along with the luxurious apartments, the home buyers are also offered a variety of amenities and facilities within the complex. The government, as well as the developers together, are continuously making infrastructure developments to achieve excellence in every segment in Lucknow.

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