Over the past few years, Lucknow has become a popular destination for real estate investors. The city of Nawabs, known for its rich history, attracts investors from all sectors who want to explore investment possibilities and find a dream home for their beloved families.
The real estate landscape in Lucknow is a hive of activity, with renowned builders launching new projects at a rapid pace, each one reflecting the city’s dynamic growth. If you’re someone who wants to explore Lucknow’s real estate and looking for valid reasons before making a move, you’ve come to the right place.
Here are some top reasons why Lucknow should be on your priority list when looking to invest in real estate property:
Why to invest in Lucknow real estate property:
1. Several new projects
Investors want to compare different properties available in a locality to make a better buying decision. Instead of putting money in one basket, they prefer investing in different property types. Lucknow is a city where all of its major locations are brimming with new projects.
You can invest in properties in the best places, such as Hazratganj and Gomti Nagar. Then, new projects are getting launched in localities, such as Amar Saheed Path, Sultanpur Road, Faizabad Road, Rae Bareli Road, etc.
The UPSIDA (Uttar Pradesh State Industrial Development Authority) is aggressively working on the Master Plan 2041, which is likely to open a plethora of new investment opportunities in different housing as well as commercial projects. Under its previous Master Plan 2021, the LDA (Lucknow Development Authority) is committed to providing houses to nearly 65 lakh migrating people by 2031. The master plan also includes readying 197 fringe villages under the Town and Country Planning project. Consequently, it will create a massive demand for flats in the capital city.
The city is also experiencing government projects, including those of IT City and CG City. All such building activities are bound to create new investment opportunities. Investors can find many ready-to-move flats in these localities to get better ROI.
2. Modern & luxurious amenities
Several townships are under construction, impacting the lifestyle of local people. The builders have ensured that each township is equipped with world-class, modern amenities. These facilities include gyms, yoga centers, high-end clubhouses, swimming pools, kids’ pools, Yoga centers, mini theatres, power backup, and many more. Such state-of-the-art amenities added to each apartment of the township make living pleasurable in the capital city.
Whether you buy 3 BHK flats in Lucknow or settle with 2.5 BHK, leading real estate companies in Lucknow ensure you get all the facilities for a comfortable living.
3. Fast and easy connectivity
Another reason to invest in Lucknow real estate is connectivity. Lucknow, the capital of Uttar Pradesh, is well connected to all the major states and cities by rail, road, and air. Chaudhary Charan Singh International Airport and major highways, including NH25, NH28, and NH56 connect the city to other destinations.
The local metro rail network has expanded rapidly, covering the city’s conveyance needs. That means even real estate property far from the city centre becomes an attractive investment.
4. Property for all
The builders have covered people’s different housing needs, depending on their budget. The city has all real estate properties, ranging from a modest 1 BHK to a higher range of 4 BHK. The town also has luxurious independent villas.
So, no matter what type of investor one is, Lucknow’s real estate has something for everyone.
5. Top medical facilities
People would prefer to own a house in a locality with hospitals and other healthcare facilities within close proximity. Lucknow is an ideal metropolitan city for healthcare. It boasts top multi-specialty hospitals, including Lohia Hospital, Narayan Hrudalaya Aarogyam, Medanta, Sahara Hospital, and PGI.
Owning a property or residential plot in Lucknow means easy access to medical facilities only a few minutes away.
Attractive areas for real estate property investment in Lucknow
Now that you know the reasons for investing in different prime locations of Lucknow, here are the most prominent investment destinations in the city.
1. Hazratganj
Hazratganj is known for its cultural heritage, which includes bazaars, restaurants, and theaters. It also boasts a major industrial area with markets, showrooms, malls, theatres, and shopping complexes. People see Hazratganj as a favourite place to settle down by purchasing a home. But it is also one of the most expensive areas in Lucknow, which boosts property rates, driving the investors’ attention.
2. Charbagh
Charbagh is already home to many modern complexes, and more residential projects are being developed. This is a profitable investment destination also because of its heritage, which includes historic mosques and temples. Charbagh Metro has made commuting much more accessible in this locality, further adding to the appreciation weightage of the property in this locality.
3. Butler Colony
Corporate Butler Colony is another significant investment destination. Many tourist attractions, such as Sikandar Bagh and Mahmodabad Palace, are located in this area, and its historic significance should prompt you to invest here. The area also boasts many ultra-modern apartment complexes and luxury villas in Lucknow for sale.
4. The Lucknow Airport Corridor
The Lucknow Airport Corridor is another excellent investment opportunity. It neighbors prominent locations, including Anausi, New Jail Road, Nilimatha, Kanpur Road, Raibareli Road, and Sadrauna. However, the Chaudhary Charan Singh International Airport in this locality is the key reason for the escalation in real estate property prices here. Its potential for further speedy growth makes this stretch an attractive investment destination.
These are the reasons why you can not only safely invest in properties in Lucknow but also earn huge profits in the coming years. Make sure that you compare different localities before making an investment decision.
5. The Lucknow IT corridor
Investors also have immense opportunities in the Lucknow IT corridor, which starts at Faizabad Road and continues to Sultanpur Road. Some prime locations include Gomti Nagar Extension, Sultanpur Road, Indira Nagar, Shaeed Paath, Shivaji Puram, and Faizabad Road. Due to excellent connectivity, it is also a lucrative investment hub with projects like Jashn Elevate.
Wrapping Up
Lucknow is a historic cultural city and the capital of Uttar Pradesh. The metropolitan city is also a key investment destination thanks to its rapid modernization. With several areas getting their share of all types of real estate properties built, the capital city is luring investors of all types.
