In the light of the remarkable progress that Lucknow has witnessed in the last few decades, real estate has been growing dramatically. The city is ahead of some more popular cities when it comes to the realty sector. The private players as well as the local developers have a huge role to play in this expansion of Lucknow Real Estate Market. Hence it is intriguing which factors are responsible driving demand. And that is exactly what this discussion further entails:
Uttar Pradesh is the second strongest state economies in the country. Thus it is not a surprise that Lucknow – especially with an improved infrastructure, better facilities, and an impressive lifestyle – lures the stakeholders to invest in it.
Why is the City a Lucrative Investment Opportunity
Better city planning
The government is keen on developing the city to match up with the growing potential of the city. Take for instance the increase in the number of swanky roads, and development of the peri-urban areas under the ‘Master Plan’. As a brand new metro city, it has become desirable to home buyers. Property in Lucknow today is thus much coveted bolstered by the rapid infrastructural growth.
Quick access to the latest facilities
Best medical and educational facilities are available within reach. People from nearby cities and districts can only avail these top notch provisions here which further increases the influx of people to the city. The thriving commercial hubs that have emerged in the city. From commercial developments to corporate ones, the remarkable growth curve has made the city worth living in.
Large Consumer Base
It is worth noting that Lucknow is surrounded by many smaller cities and towns in UP. It has one of the largest numbers of purchases in the state. In real estate itself, the total number of buyers has increased drastically in the last few years. The city is on its way to becoming 1 trillion dollar economy which has also trickled into rela estae sector and has led to the growth of housing market in Lucknow.
Improved Economic Well-being
The private players are now keen on making huge investments because there is a demand for the same. This growth is in turn inspired by the growth of the other industries like manufacturing, food processing, electronics, banking and IT. The city has experienced a transformation that has resulted in an increase in the economic activities. Today, small businesses markets and malls are present in a good number all over the city.
Striking Residential Options
When it comes to real estate the market is further augmented by the new developments. The local, as well as renowned developers, are on a construction spree in the area. There are plotted, residential, retail projects coming into the picture which come embedded with luxury amenities. Plots in Lucknow are very desirable amongst home buyers of the city. It is so because the amount of investment required is much lower. The people can design their homes as per their wish which gives them enough independence. The rate of return for the properties is also high owing to the above mentioned reasons. And just like apartments, you get to avail premium club amenities and society benefits.
Owing to the many favorable factors like the development policies, top-notch driving the growth of real estate in the city. Lucknow poses as a very profitab;e investment given that the market is far from being saturated. There is still much potential for growth. Even for homebuyers looking to settle in the city, it offers a better life quotient than many other cities nearby. Overall, it is quite clear that the city makes for a perfect recluse to spend a lifetime in.