Lucknow’s real estate market is growing exponentially every year. The capital city of UP (Uttar Pradesh) has witnessed a boom in its real estate sector. The century-old monuments in the background and rapid infrastructure development have made it a hotspot for both developers and investors. However, certain questions are likely to pop up in investors’ minds before making any investments in the heritage city.
This blog will discuss and address common questions to help make a well-informed real estate investment in Lucknow.
Common concerns regarding Lucknow’s real estate
What’s the condition of Lucknow’s real estate market? Is it projecting growth?
According to the National Housing Bank’s data, Lucknow’s real estate showcases an upward growth. The average property price in Lucknow goes from Rs. 6,400 to above for per square foot area. This number showcases a year-on-year growth.
Also, the real estate market in Lucknow shows stability. Lucknow is among those two tier cities, reflecting an upward growth and attracting investors. Areas like Sushant Golf Course, Gomti Nagar, Hajratganj, and Indira Nagar have seen price appreciation between 10% and 12% yearly.
Infrastructure developments like Lucknow-Agra Expressway, Lucknow Metro, and other upcoming projects have accelerate its real estate demand.
Does Lucknow’s real estate market have any legal or regulatory snags?
The real estate in Lucknow comes under the scrutiny of RERA. It brings transparency and issues guidelines for developers to follow. All the commercial and residential, including affordable and residential projects in Lucknow need to get RERA registered.
Investors can check RERA registration of a developer to ensure they are dealing with a legitimate developer.
Does Lucknow have a robust infrastructure for real estate investment?
Over the past decade, Lucknow has witnessed rapid infrastructure development. Flyovers, expressways, and Lucknow metro are major developments that have added to accelerate real estate growth in the city. Shaheed Path and Gomti Nagar have many new developments, attracting investors for residential and commercial properties.
The expansion plan for Chaudhary Charan Singh International airport is expected to improve connectivity and drive investors’ attention.
Can Lucknow’s real estate market fulfill the changing demands?
Real estate developers in Lucknow are modernising themselves to fulfill the buyers’ changing demands. They are leveraging technology to increase their development efficiency and attract high-end investors looking for luxury projects.
Developers are looking to adapt to the changes and including luxury amenities like, swimming fools, triple-height clubs, fitness centres, open play areas, community centres, and more.
Is Lucknow able to provide a good-quality of life?
Lucknow is famous for its Tehzib and quality lifestyle. Its potpourri of culture, heritage, and modern amenities makes it a perfect location for such a lifestyle. The capital city boasts superb healthcare facilities and recreational activities.
Projects like Jashn Elevate by Jashn Realty offer world-class amenities such as a green landscape, gym, park, children’s play area, yoga studio, home theatre, and more, making Lucknow the best investment location.
How much ROI can you expect from Lucknow’s real estate sector?
Lucknow, moving forward on the development and infrastructure front, has managed to deliver good ROI. Luxury projects like Jashn Elevate and others on Shaheed Path, Sushant Golf City, and Gomti Nagar are expected to gain an 8 to 12% appreciation. Investors can put up these projects for rental income with a 3 to 5% of annual returns. So, investing in Lucknow’s real estate is profitable.
Conclusion
Lucknow’s real estate market holds immense potential for investors. With robust infrastructure development, the capital city proposes a promising environment for luxury and affordable housing segments, too.
