Lucknow Realty Following in the Footsteps of Noida

Lucknow has always been known as ‘The City of Nawabs' but it is today gaining popularity as an investment destination. The picturesque surroundings and the courtly manners of its people coupled with upcoming quality structures and high standards of living make it a great place to live in. Lucknow real estate is largely imbued with architectural heritage but has now been evolving rapidly, transforming into a modern day city.

Indian real estate has come a long way from its metropolises focused growth trends to developments across all tier-II, III & IV cities and towns & suburban areas. The paucity of land and development opportunities in metros cities caused developers to scout for newer areas with huge potential for growth. It is then that suburbs and cities in proximity to metro cities of Delhi, Mumbai and Bangalore came into light and large scale constructions began. From local to national builders, all were engaged in frenzied developments in the cities of Gurgaon, Noida, Navi Mumbai, Mysore, Pune, Nagpur, etc. as they offered ample scope for development. Along with these, other tier-II cities like that of Lucknow, Indore, Ahmedabad, Chandigarh, etc. also bustled with developmental activities. Let us take a detailed look at the Lucknow realty trends after the successful metamorphoses of Noida from a village to a business center.

With almost every realty honcho involved with property projects in North India, the potential of cities like Lucknow, Noida, Greater Noida, Indore, Chandigarh, Ludhiana, Jaipur, Patiala and others is being explored. Lucknow is the capital of Uttar Pradesh, the state that houses the regions of Noida and Greater Noida situated very close to Delhi, the national capital. Noida Real estate has carved a significant place in history of Indian realty through its rapid conversion from a small town into a center for urban living. The pace and the manner in which this transition occurred are truly commendable and thus, pave way for more success stories waiting to happen. While other upcoming cities are already following in the footsteps of Noida and Gurgaon realty development trends, the State government is also willing to do the same in Lucknow. Hitherto known for cultural superiority, the burgeoning real estate in Lucknow will now add another feather to its kitty.

The value of property in Lucknow is multiplying with time reinforcing the fact that it is an ideal investment destination. According to the price list obtained in the end of July, apartments in Lucknow are available in the range of Rs.1,500 - Rs.3,700 per square feet. And plots in localities of North and South are somewhere around Rs.7,000 to Rs.16,000 per square yard and in East and West for Rs.9,000 to Rs.17,000 / sq. yard. The rentals for 2BHK apartments in Lucknow are nearly Rs.4,000 to Rs.11,000 per month and growing. Some of the areas witnessing large-scale developments in the city include Mahanagar, Gomti Nagar, Janakipuram and others along the highways to Kanpur, Sitapur, Faizabad and Rai Barielly. Lucknow real estate is charting new boundaries and setting benchmarks welcomed and appreciated by all.

Lucknow is a prominent education hub that attracts students from diverse streams to the city. Furthermore, being the capital city, it is the political center of Uttar Pradesh that boasts of excellent infrastructure. Popularly called the ‘Golden City of the East', it is a promising destination for property buying and investing. In fact, huge investments are being made in Lucknow realty sector with NRIs pumping in substantial amounts of money. As observed by real estate consultants, the approach to developing property in Lucknow is wholesome with the entire spectrum- residential, commercial and retail- buzzing with activity.