Situated at the banks of the Gomti River, Lucknow is world famous as city of Nawab's and the state capital of the biggest state of India, i.e. Uttar Pradesh. It is the administrative capital of Lucknow District and Lucknow Division. Lucknow has been given various other names too, such as The Constantinople of India, Shiraj-i-Hind and the Golden City of East. The city has a rich historical value and has witnessed various dynasties which holds an important significance in the Indian Antiquity.
The ethos, tradition, cuisine of Lucknow is completely influenced by the Awadhi Culture and it is well-known for its "TEHJEEB". The city of Nawab's has beautiful historical buildings such as Rumi Darwaja, Bhul Bhulaiya, Shahi Imambada, Dilkusha Garden, Safed Baradari and to name a few. Famous for its Nawabi Culture and mesmerizing chikan work, Lucknow is now wearing a modern look with its classy commercial buildings sprawling shopping malls, and luxurious residential apartments and hence more people are looking to have a permanent property in Lucknow. Read More
Types of Popular Properties in Lucknow
With a fresh viewpoint, Lucknow is gradually moving towards the high-rise towers, shopping complexes and business parks. Various renowned builders such as Eldeco, Parsvnath, Omaxe, Sahara and more are launching number of residential as well as commercial buildings in Lucknow which are providing new dimensions to the property market. People from Lucknow and the adjoining areas are moving into the city in order to have a better living standard as numerous career options are available. The potential buyers and investors are keenly looking for commercial real estate in Lucknow which includes business parks and towers. Apart from this, affordable residential apartments are grabbing a major attention by the buyers.
Popular Areas in Lucknow
Lucknow, the place with royal grandeur carved with magnificent architectural heritage and ethnic culture, speedily moving forward in the race of development. The city has vast vacant land which can be utilized for futuristic real estate projects. With the continuously moving high onrushing economic activity and growing aspiration for modern living, Lucknow is stimulating for big time real estate growth. Several other big real estate players such as DLF Builders, Shalimar Builders, Ansal API, are taking advantage of accelerating opportunity in the city and are investing in properties in Lucknow. "According to recent Reserve Bank of India report, Lucknow real estate witnessed the highest increase in housing prices in the country rose during the October-December quarter of the 2015-16. On an annual basis, in Q3:2015-16, real estate Lucknow witnessed the highest increase of 16.1 per cent."
At present, a huge number of constructions are going on in the areas such as:
Rental property in Lucknow is a comparatively a new concept in Lucknow. With the advent of MNC's, manufacturing units and industries, a massive population is choosing Lucknow as their work location. People from other cities and adjoining areas are relocating to Lucknow in order to pursue their jobs and this is giving new wings to the Lucknow property market. The most prominent areas for rental properties are listed below:
Property market of Lucknow is gaining high momentum in terms of commercial projects. Various trusted and established builders are launching numerous commercial projects in the following areas:
Asper the recent studies, still a large part of Lucknow Property market is more towards unorganized space which has to be used judiciously to get the best of it. Being among the most developed city of eastern Uttar Pradesh, Lucknow is also the hub for various educational institutes which are occupying huge land for their extension.
Lucknow is becoming an important destination for government offices, major banks and MNC's such as the Bureau of India Standards, Central Bureau of Investigation, Information Education and Communication Bureau, Reserve Bank of India, HCL, TCS, Excide Life Insurance and more. Due to the advent of these organizations more career options are emerging in Lucknow and this adding towards an increased percentage in GDP contribution. The Uttar Pradesh (UP) government has claimed a steady increase in the state's GDP and per capita income, earlier it was 3.9 per cent in 2013-14, which rose to 4.7 per cent in 2014-15 and then to 6.6 per cent in 2015-16. The city is constantly moving towards a developed economic activity and turning to be an inspiration for modern living.
Lucknow, has bagged its name in the list of 100 Smart Cities Mission and this is expected to help the city to have improvements in lifestyle and boosted amenities by the prospect of builder and buyer both. In terms of infrastructure, Lucknow is expanding profusely as various infrastructural developments are going on. Metro rail is one of the major revolutionary projects, which is going to bring a huge positive change for real estate growth in Lucknow. The metro line will connect the major parts of the city such as International airport, charbagh railway station, SGPGI, Hazratganj and more, hence commuting from one point to other will become easier and economical too. Besides, the city of Nawabs is a well-connected city, it has easily available and connected transport modes, reputed hospitals such as PGI, Sahara Hospital, Lohia hospital and to name a few. The big retail brands has also made their entrance in Lucknow such as Sahara Mall, Inox Mall, Fun Mall, Wave Mall and more.
At present, the state capital is evolving as a new hub for the flourishing real estate, retail and commercial sector which is encouraging tourism in the city. To provide a smooth and quick connectivity in city from other parts of the country as well as globally, it is equipped with an international airport that has two terminals for domestic and international passengers. Lucknow has 2 major railway stations, namely charbagh and Badshahnagar railway station from where a number of trains pass daily. Apart from it has national as well as state highways which connect to Kanpur, Rae Bareli, Sitapur, Faizabad, Sultanpur, Hardoi among others.