‘Muskuraiye aap Lucknow mein hain!’ (Smile, you’re in Lucknow). This ancient saying rings in our heads as we step into the ‘City of Nawabs.’
Lucknow is an upcoming smart city in North India. The city offers a good blend of luxuries of a smaller town and the advantages of a metropolis. The social infrastructure of Lucknow has made it one of the most desirable cities to live in. Lucknow is slowly emerging as a residential hub. Great homes within an affordable price range sweeten the deal for home buyers. Due to this, several real estate developers are building world class residential properties in Lucknow. A quick search on the internet will throw across 500+ names and the projects developed by them. There are approximately 1029 ongoing and developed projects in Lucknow. The starting price is as low as INR 4.5 lakh for certain areas. A potential home buyer is clearly spoilt for choice!
Gomti Nagar Extension
Gomti Nagar Extension and Gomti Nagar and jointly is the prime well-planned developed township of India consisting of both residential and business settlements. Gomti Nagar Extension nowadays, is in the spotlight for all the right reasons. It offers a wide collection of facilities to people. After the introduction of the international cricket stadium, Gomti Nagar Extension seems to have become the frosting on the cake and a favourite area of investment, for many. Buyers look at this area as a profitable deal for future. It seems to be a sudden rise in the land price of this zone. After the approaching up of Janeshwar Mishra Park - claimed to be Asia's largest garden, investors and buyers started visualising this area as a perfect investment destination. Oranje Castle is nestled at the chief location in Gomti Nagar Extension, behind dial 100 office, and promises to offer and strange living experience to its residents. The USP of Gomti Nagar Extension is its nearness to malls, hospital, schools and colleges, and most importantly, connectivity to the rest of the city. Public conveyance is also not a subjected here. The project is located in close proximity of the newly launched IT City, Jaipuria School, DPS, G D Goenka School, Awadh Shilpgram, La Martiniere Colledge, Loreto Convent, Chak Gajaria Farms, 200 bed mother and child hospital, Amul Plan. It is also just 10 minutes’ drive to Hotel Hayat, Marriot, Hotel Taj, Lucknow Golf Club, MB Club, Vidhan Sabha and Hazratganj. The International Airport and Charbagh Railway Station can also be reached in just 15-20 minutes from Oranje Castle.
Sultanpur Road becoming the new growth centre due to the IT city, IIIT campus and international stadium, realtors are thronging to meet the demand for housing in the area.
Sultanpur Road houses many private educational institutions. The road is well-connected with other parts of the city through the Shaheed Path. Several private developers have forayed into this area to develop residential projects. Currently, residential properties along this road are available in the price range of INR 2,000 - 3,000/sqft. There is almost 11% increase in price from last year.
Since, infrastructure is the key determinant of development and impacts the property values significantly; Sultanpur Road has grabbed the eyeballs of many renowned developers and investors. This has led to the launch of various projects in the area. From multi-storey apartments to plots, these new launches offer a collection of options to the home buyers. On an average, capital values of newly-launched apartments vary between Rs 20-60 lakh. Developers active in the area include Ansal API, Viraj Construction Pvt Ltd, AKG Infratech (P) Ltd. Sushant Golf City, PM Developers and Azure Infracity (P) Ltd, to name a few. While, the developers are offering all kinds of configurations, buyers’ preference is mostly inclined towards 3BHK units, closely followed by 2BHK units. Not only this, if you are a smart investor, then investing in plots can fetch you a good deal as the plot values in Sultanpur Road have recorded a whopping increase of 22 per cent in the last three months. As per the values, plots of 1000-1800 sq. ft are available within Rs 3-20lakh.
As Sultanpur’s real estate is slated for a leap in future, investments in the current scenario are expected to fetch good returns in times to come!