subject: Immensely Rising Demand For The Residential Projects In Lucknow [print this page] In terms of the real estate investments, the Lucknow properties have become one of the attractive sector. This city has thereby offered enormous number hi-tech commercial and residential properties in terms of apartments, retail space, builder floors or independent houses. It has been seen that in the coming years the demand for the property in Lucknow has been seen to be increasing rapidly and especially this has been noticed in case of the luxurious homes.
Due to the tremendous growth of this city, number of the prominent developers have been seen to be getting influxed over here. These developers like Jaypee, Ansal as well as the Parsvnath have successfully launched their projects in this city. While on the other hand the Ansal Properties and Infrastructure is planning to launch one of the big township project in the city that will provide 70,000 units. Overall the company is on the fast track to currently develop a 3500 acre township of Sushant Golf City at Lucknow. Due to the fast growth of the infrastructure facilities as well as increase in the job opportunities, the demand for the residential projects in Lucknow, Nagpur, Mohali and Agra are among the tier II cities that has been seen to be tremendously increasing.
According to the AK Mishra, a property consultant, states that compared to the others, there has been high stability and more transactions for the new and ready to move in apartments which are fully furnished and that are equipped with all kinds of modern amenities. Some of the examples of the residential projects in Lucknow are Lakshya Heights, Omaxe Heights, Akshay Homes, Eldeco Elegance, DLF Garden City, Sushant Golf City, Golf Vista, Eldeco City Breeze and lots more. Being constructed on the outskirts of the city, the price range of these projects are fluctuating between Rs 1900-2500 per sq ft.
A local realtor Pankaj Srivastava, announced that in the last one year there has been seen a good appreciation for the Lucknow properties in the last one year. Hence, in order to meet the increasing demand for the housing, both the local as well as the prominent developers are seen to be flourishing with their high end luxurious residential projects.
While, in addition to the main city and the suburbs, the infrastructure development for the residential property in Lucknow is seen to be active along the Highways connecting Lucknow to other destinations. The Sharad Sharma of the Manglam properties states that in the month of January to April, there has been a good appreciation of nearly 10-15% in the Lucknow properties across the city. As this city has good connectivity to major centres like Sitapur, Rai Bareilly, Sultanpur and Kanpur, hence it has attracted number of NRIs , buyers and investors from the cities as well as the neighbourhood cities. The initiatives for the development of this city has been taken by Jawaharlal Nehru National Urban Renewal Mission (JNNURM) and Uttar Pradesh Housing and Development Board (UPHDB) for developing hi-tech townships on 25-100 acres of land in the city. Above all that, during the past six months, the number of transactions for the property in Lucknow has been seen a good appreciation by 20-25%, and the localities that have benefitted a lot are Indira Nagar, Gomti Nagar, Jankipuram and Mahanagar.
Thus, the main reasons why the visitors are showing their deep interests in investing especially on the Lucknow properties is due to the fact that it is giving good return on investments to the numerous investors who have started their projects in Lucknow. Another reason for their interests are that this city is known to be the best education as well as commercial hub housing various renowned institutes like Central Drug Research Institute, IIM, Dr. Ram Manohar Lohia National Law University etc. In this city you can find number of the historical monuments like Shah Najaf, British Residency, Imambara etc that attracts visitors from various parts of the world.
