Lucknow as an emerging investment destiny

Real estate investment is a great option to keep your ongoing income flowing. It is a proven to be the best way to start up your wealth building process.

Shyamlal is an auto-rickshaw owner in Lucknow. He earns a monthly salary of Rs 16,000. Shyamlal spends close to Rs 6,000-7,000 per month on fuel. This means minus his expenses, he is left with Rs 9,000-10,000 every month. Despite his low income, he has become the proud owner of an apartment sized 450 sq ft located close to the Raebareli road in Lucknow. His property costs slightly over Rs 6 lakh. Shyamlal availed a home loan of Rs 3.20 lakh for 10 years, at a monthly installment of Rs 4,536.

Not just Shyamlal, you too, can look for a house on the near the Raebareli road. Today, it has become a highly-active, developing residential suburb of Lucknow. Located in the outer areas of the city, the highway connects two integral parts of Lucknow and Raebareli. This residential area on the Highway begins from the outside of the military cantonment and goes up to along the Raebareli road. This stretch is approximately 20 to 25 km where new developers have already launched or will soon launch their residential projects. The most preferred configurations along the Raebareli road are 2 and 3-BHK units. This clearly reflects the demand for apartments. The value of a 2-BHK apartment ranges within Rs 15-35 lakh with sizes of 950-1,300 sq ft, while 3-BHK units are available in a range of Rs 30-50 lakh with sizes from 1,100-1,600 sq ft.

Although these residential townships on the Raebareli road are located in the outer suburbs of the Lucknow, they are still preferred due to good connectivity, quality facilities and proximity to social infrastructure, ensuring active residential development in the area. The reason behind its popularity is the jobs market, world medical facilities and International airport located across the Raebareli road. It has also become an emerging investment destination for individuals working in that particular area.

Easy accessibility, number of commuting options and availability of affordable living spaces have been attracting buyers from within the locality of the Raebareli road.

Many individuals from established and old areas of the city such as Chowk and Kaiserbagh have been selling their old properties at good prices and moving towards the developed suburban areas. These offer residential spaces at much lower prices with modern facilities and established social infrastructure. Poor civic facilities and non-availability of modern amenities has been constantly pushing people to the new developing areas like Raebareli road, “adds S K Singh, Lead property consultant, from Bhumitech Developers Pvt. Ltd.

Choosing an investment destination is important. You need to keep in mind the existing as well as the upcoming factors, which will ensure capital appreciation of your property in the long run.  Raebareli road fits the average budget of buyers looking to invest.

Make living lavish and Eco friendly in Lucknow

Living in a comfortable and luxurious place is the dream of most people. The place can be a flat or a bungalow depending on the budget of the individual. The city of Lucknow provides good options for quality residential and commercial places. The real estate industry of Lucknow is flourishing at a fast rate and more and more people are settling in this city to lead a comfortable and good quality life.

Many construction companies are investing in the real estate of Lucknow owing to its natural beauty and availability of space. Several big budget residential and commercial projects are being launched to make Lucknow truly competent with leading metropolitan cities of India. The city of Lucknow is the unique place of living already several important factors to make living lavish. If you look infrastructure point of view the road and transport facility, unbound 24 hours electricity supply, schools and colleges, Hospitals, Health and recreation facility, entertainment and amusement facility and several other important facility to make better in comparison to other city of the state.  Several beautiful green lush parks, heritage place and water parks is the sparkling feature of the city  such as Lohiya park, Ambedkar Park, Smriti Upwan, Begum Hazarat Mahal Park, Jama Masjid, Chhatar Majil, Imambara,  Residency, Rumi Drawaja, Kukrail picnic spot,  Anandi water park and Dream world water park.

If you look the city in environmental point of view, the city is less polluted due to huge availability green lush atmosphere. The pollution level are varies from area wise, the old area of the city more polluted in comparison newly establish area because these area are well planned. Within few years the city would have excellent infrastructure and living facility. Many commercial plots are available for setting up new business along with residential space. The residential projects in Lucknow are very affordable. The city is still in the growing stage hence, the prices of apartments are not as high as other commercial capitals of the country. The flats and buildings being constructed are using high quality material and ensure complete consumer satisfaction. With more and more residential places budding up, investors are also launching projects for the construction of educational institutions like schools and colleges to provide more facilities to the people living and moving in the city such as Millennium school, Amity International School, Delhi Public School and Lucknow Public School many more other names. 

The newly established residential societies and commercial offices are equipped with high security services. People can live and work peacefully without any fear or worry. The security services assure to the resident to 24 hours safety and security concern. The real estate industry of Lucknow also involves the development of recreational places like parks with ample greenery and rides for kids. Market complexes are also being constructed nearby every location to provide entertainment facility to people.

Lucknow is a city with beautiful landscapes, old heritage and enough free space. Real Estate Industry of the city is booming due to more and more investors showing interest in the city. Various residential and commercial options are available for people who wish to move in this city to lead a safe, lavish and comfortable life.

Lucknow metro is the key to change the face of real estate in Lucknow

The arrival of Lucknow metro has created a remarkable influence on the city’s realty market. After the 1^st tier city like Kolkata, Chennai, Delhi, Bengaluru and Mumbai, Lucknow under come the top position in 2^nd tier cities to provide the largest metro rail network services in India. Lucknow metro is connecting the four major parts of the city, first two major parts is north-south corridor from Chaudhary Charan Singh International Airport to Munshipulia covering a distance of 22.878 kilometres and second two major parts is east-west corridor from Charbagh railway station to Vasantkunj covering a distance of 11.098 kilometers. Lucknow is emerging a hot destination for property investors, buyers, developers and renters owing to factors such as better transport infrastructure, improved connectivity, 24 hours unbound electricity and the potential development that may be brought Metro rail network.

Enhance in demand for Real Estate Property

Lucknow metro is proving to be a boon for the working individuals and emerging the top level global outsourcing cities; Lucknow is also acknowledged for its growth in the IT sector, automobile, real estate and various other industries. People are searching for communities nearby metro line as it has reduced the commute time. 

Prior to metro, the journey from Amausi to Munshipulia took almost an hour and 20 minutes by means of public transport and 30-40 minutes by private vehicles. This time is considerably reduced to 20-25 minutes by metro, and hence more people are moving to locations that are nearby metro.

The Real Estate developers line up

Keeping pace with the demands in the housing and commercial sector, Lucknow is attracting place of real estate development due to the scarcity of land in the city, multi-story residential or commercial projects are the best options for the developers.

The government has passed the provision for unlimited FAR (Floor Area Ratio) for buildings that are nearby the metro line due to this, the developers are rushing to lay their hands on these lands. With the healthy demand from home buyers, Lucknow is becoming a premiere investment place. Furthermore, the realty market of Lucknow is drawing attention from foreign investors due to growing various industries and metro rail development.

Hike in Land Prices

The circle rates of lands have shot up in Lucknow as a result of the metro. The capital values have accelerated too much high in Faizabad road, Sitapur road, Raebarli road and nearby the localities respectively.

Moreover, in Alambagh, Krishnanagar and nearby Raebareli road, a 2/3/4BHK apartment spread over 1200-2000 sq ft., is priced in the range of Rs 30 lakh to more than Rs 1 crore. The price rise is not limited to just property buying. From the start of the construction of the metro, the rental market has shown upsurge. According to a real estate company Bhumitech developers Pvt. Ltd. adjacent to the area like  Transportnagar, Krishnanagar, Telibagh,  Alambagh and other neighbouring regions have shown a tremendous hike in rental amount owing to the adjacent metro line.

What Future Realtors says 

The Phase 1 of metro, which will connect the outskirts to the main city, is expected to be operational by 2016. It will further boost the real estate growth in Lucknow. The peripheries along the Phase 1, including Chaudhary Charan Singh International Airport, Amausi, Indira nagar, Krishna nagar, Munshipulia, Mahanagar, VasantKunj and Shrinagar are busy with different construction activities to become an active residential real estate hub. It is predicted that the future of the real estate market in Lucknow will take an upswing after the completion of Phase 1 metro.

According to the real estate consultant from Bhumitech Developers Pvt. Ltd., the real estate market will flourish more and more in the future. With the Phase 1 metro, Lucknow has become one of the major cities with largest functional metro. And the upcoming Phase 1 metro will lead to escalating property prices and the rise of more residential, industrial and commercial real estate projects.