Real estate market in India is on
the upswing while builders in India are rapidly investing in all the parts of
the country. New constructions in this field are into an all-time growth. Indian property
developers are buying properties in large number for construction of townships
and residential complexes.
Lucknow the capital of Uttar
Pradesh is popularly known as the 'City of Nawabs'. This city has a high
historical and cultural importance and is famous for its courtly manners,
beautiful gardens, and music, poetry and fine cuisines. Lucknow is enriched
with architectural heritage and is witnessing major developments across all the
sectors at a speedy pace. By ranking among the top ten fastest growing tier-II cities
of India, it is quickly evolving as a real estate destination.
Lucknow, also called 'The Golden
City of the East' is witnessing an economic boom today. The surge in its
industrial activities has led to a boom in real
estate sector which has also changed the demographic boundaries of the
city. Being an old city, the government and people have a lot of veneration for
the city and its residents. Lucknow is imbued with multicultural spirit and so,
property developers are focusing developments more on the peripheral areas of
the city. Positive trends in Lucknow property market have tempted leading
developers like Parsvnath, Omaxe, Eldeco and Uppal Group to launch some mega
projects in the city.
The unprecedented demand for
properties has proved progressive for Lucknow and transformed it into an
upcoming metropolitan city. This demand is raised by students from all over the
country who migrate to the city to attend to some of the most premier and
eminent educational institutes in Lucknow and nearby areas. It is further
augmented by professionals who enter this region to work with some of the most
reputed brands of India and abroad. NRI investments also make for substantial
amount of raise in demand for quality housing.
The property in Lucknow is being
developed with a wholesome approach but housing and retail sector are
witnessing an all time high. Some of the important developments in the retail
sector include:
-Fun Republic Mall in Gomti Nagar
promoted by Lucknow Development Authority on an area of approx. 5 lakhs square
feet. It consists of a 6-screen multiplex, department stores, music and gift
shops, food courts, fine dining restaurants, a boutique business hotel gaming
and other lifestyle retail options.
With the kind of growing economy
buying, selling, investing and renting properties in India is considered a
lucrative option by the people world over. Moreover, an increase in the
property rate in the Indian real
estate market in Lucknow,
even in tier- II or tier - III cities of India, is showing an upswing trend in
building and construction. According to real estate agents in India, this is
indicative, at least on one level, of a clear interest of people in buying or
selling of properties.
1 comments
Interesting to see the development growth in various real estate segments in lucknow. The residential real estate market has also seen some unique and extraordinary developments.
For example, Azea Botanica in vrindavan Yojna Lucknow, has brought the garden city lifestyle of singapore to lucknow. It offers a never before living experience with complete focus on nature, environment and luxurious lifestyle.
It is providing every facility and amenity that residents may need thus, making it the top upcoming real estate project in lucknow.
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