Real Estate in Lucknow to Get a Lift With Inclusion in ‘Smart Cities Mission’

When people think about Lucknow, impressions which first come to mind are the city’s exquisite culture, extraordinary monuments, Nawabi-era finesse and amazing food. Today, with rapid development and urbanization across India, the City of Nawabs has not been left behind in the race of development. Though, the old world charm of Lucknow is still intact, the city is slowly progressing towards a full-fledged developed city of the country with top class infrastructure, good connectivity, premier educational and healthcare institutes, employment opportunities, quality lifestyle, and more.

Recently, Lucknow was included in the central government’s 100 Smart Cities Mission. The move would help Lucknow City see massive improvements in amenities and lifestyle and boost the prospects for Lucknow real estate by leaps and bounds. This would lead to higher urbanization and growth not only in the city but also in neighboring areas. Healthcare, education, technology, banking, transportation and real estate sectors would improve considerably in the future and expected to generate numerous business development opportunities. Certainly, these developments would further strengthen real estate market in Lucknow and help unleash its real potential.

Besides, Lucknow being a well connected city with good air, rail and road connectivity, is witnessing extensive infrastructure growth, including IT City, Indian Institute of Information and Technology (IIIT), Lucknow Metro, Intl. Cricket Stadium and 1000-bed Medanta Super-Specialty Hospital being developed in the city. All these infrastructural developments together are already attracting top real estate builders in Lucknow to launch their new housing projects in upcoming localities, thus boosting the prospects for residential real estate projects in Lucknow. As per the recent Reserve Bank of India (RBI) report, Lucknow saw the highest rise in the housing prices in India during the last quarter of 2015-16. During this period, the city saw the highest increase of 17.1 percent in housing prices.

Where is Property Investment in Lucknow Moving?

With the smart city inclusion and robust development and growth taking place across the length and breadth of the city, Lucknow real estate market is bound to rise. Upcoming areas such as Gomti Nagar, Gomti Nagar Extension, Vrindavan Yojna, Jankipuram, Vikas Nagar, to name a few, are witnessing promising investments from customers, investors and NRIs. All-round development along with good price appreciation, which is driven by infrastructure improvement and better connectivity, could be seen in these areas. Moreover, prominent highways in Lucknow such as Raebareli Road, Faizabad Road, Kanpur Road and Sultanpur Road are also seeing Grade A developments due to their proximity to Amausi International Airport, Charbagh Railway Station and other important establishments and facilities. Extensive real estate activities in the form of hospitals, educational institutes, shopping malls, parks and residential townships are being developed on the stretch of these highways. Seeing this realty boom, real estate developers in Lucknow are developing affordable as well as luxury residential projects laced with superior architecture, spacious and airy rooms, contemporary amenities and hi-tech security features to cater to the increasing demand of apartments and flats in Lucknow. So, if you are planning to buy property in Lucknow, then these upcoming areas would be an ideal option for investing.

About the Author: Rajeev is sales and marketing consultant at Azea Botanica, an upcoming housing project in Lucknow at Vrindavan Yojna being developed by Azeagaia Development Pvt. Ltd., promoted by Singapore-based firms through automatic foreign direct investment (FDI) route. Rajeev has a hobby of writing articles, blogs and likes driving sports bikes and cars.

Rajeev is an avid writer and regularly writes articles and blogs on Lucknow real estate.