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.