The rapid pace of development along with the expansion of trade and commerce make this a prime time to invest in Real Estate in Lucknow. Additionally, in the aftermath of the COVID-19 pandemic, many people are looking to shift back to Lucknow from congested metro cities to counteract the rising cost of living.
As a soon-to-be bustling metropolis, Lucknow is currently witnessing development at an accelerating pace. Poised on the brink of emerging as a leading professional and educational hub in North India, the ‘City of Nawabs’ is all set to uncover the next chapter in its illustrious journey.
The real estate industry has taken due note of this reverse migration trend and as a result, business is booming. Currently, the city is witnessing a wide spectrum of development with burgeoning townships and diverse housing communities that offer an eclectic mix of independent villas, luxurious apartments, premium penthouses and sky-villas.
If you are still on the fence about investing in real estate in Lucknow, here are a few points to consider:
- Rapid Urbanization: Whether we talk about the awe-inspiring facade of the International Cricket Stadium or the larger-than life Lulu Mall that is nearing completion, Lucknow is witnessing the rapid development of multiple sports, shopping, dining and entertainment hubs.
Given the promising landscape of upcoming Real Estate, the right time to invest in both land and property is now.
- Rising Property Values: Courtesy of the rising demand for property in Lucknow, property prices are steadily rising year after year making residential property one of the most promising investment options with steady returns.
As more startups and MNCs move to the city, the demand for housing is all set to rise further with both workers and entire families moving here in search of upcoming business and employment opportunities.
You can either go for ready-to-move homes or under-construction projects that will be completed in the next year or two.
While ready-to-move homes are perfect for those looking to shift right away, going for a developing project can enable one to buy now at a lower price and enjoy the benefits of appreciating property prices in the future.
- Diverse Housing Options: With so many people making Lucknow their base, realtors today are offering a range of diverse homes and corresponding lifestyles to ensure that there’s something for every taste and preference.
From towering sky-villas and penthouses to prime 5 and 4 BHK apartments, the market for luxury homes is wide open. Similarly, for those who prefer independent housing, there are a plethora of options ranging from exciting villa communities to spacious row houses and even plots, all located within larger integrated townships.
On the more affordable side, there are plenty of upcoming 3 and 2 BHK apartments in sky-high towers that come with fully-functional lifts and a plethora of facilities including 24×7 CCTV surveillance and on-site gyms.
- Increasing Demand for Commercial Property: While the COVID-19 pandemic may have driven many to work from home, many offices are slowly re-opening, bolstered by the country’s rapid vaccination rate.
With the rise of local startups and the entry of major corporations, the city is further looking to scale up its commercial property including retail spaces and offices.
So, whether your needs are residential or commercial, property in Lucknow offers plenty of options for investment.
- Integrated Townships with Open Spaces: Another major factor to consider while investing in real estate in Lucknow, is the emergence of fully-integrated residential townships that offer residents fine homes amidst acres of widespread greenery along with a host of luxurious amenities.
These can range from exclusive clubhouses with swimming pools to especially-designed kids’ play areas and full-scale grocery stores. Today’s housing communities come with the added convenience of finding everything from fine-dining restaurants to luxury retail avenues and necessities such as schools and hospitals just a few steps away.
As one of the leading real estate developers in North India, the Shalimar Group has played a key role in shaping modern Lucknow and with a string of upcoming projects in the city, we are all set to drive Lucknow’s future growth as well.