Buying A Flat In Lucknow? Here’s Everything You must Know

Buying a home is an experience that we all dream of and hope to accomplish during our lifetime. It is the goal that makes countless numbers of people work their fingers to the bones for, and a place that offers safety, comfort, warmth. Hence, knowing and understanding the nuances of buying a home is imperative to make the process smoother and give you the contentment of making the correct choice. 

Lucknow, being the city that has emerged as the ideal hub offering luxury, higher standard of living, cost effective properties, extends all of it in abundance. The concept of apartments or flats is now rapidly becoming popular in the city of Nawabs. With new age developers in Lucknow understanding the needs, space and amenities the modern professional needs, Lucknow is fast attracting flat buyers and investors. As Lucknow offers countless options in apartments, for first time buyers it can be a daunting task. There are many aspects that must be considered before you zero in on one that you wish to call ‘home’. 

“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” – Franklin D. Roosevelt
So, if you are looking to buy a flat in Lucknow, here are some of the most important factors to take into account.

 
What’s Your Budget?

The budget is the most significant factor to consider in purchasing a flat in Lucknow. The locality, amenities, size of the apartment are some considerations that will determine the cost. A thorough research on the existing properties in Lucknow will help you in narrowing down to those that most suit your lifestyle. 

Apart from the price of the flat, you must also estimate your present financial investments and the future financial plans such as the EMI that you would be comfortable shelling out monthly, the rate of interest on the EMI, the duration of the loan and yearly savings. Writing down every expense you are sure of and anticipate, will make it easier to gauge your spending ability, where you can nip costs and what considerations you can compromise on. 

What Type Of Property Would Suit You?

There is no dearth of options when it comes to real estate in Lucknow. While deciding on the type and size of the property you prefer, the first step is to bear in mind the number of members in your family, the lifestyle that you live and of course, the budget. Whether you should buy an independent home or a flat depends upon if you have children and If there are elderly family members living with you. Then safety, area and ease of basic amenities in the neighbourhood are factors to consider. 

Lucknow has seen a rapid rise in the construction of high rises that offer all facilities for the convenience of the residents. There are hordes of developers in Lucknow who are providing the option of 1 BHK, 2 BHK, 3 BHK, 4 BHK and even villas within the condominium. Keep your needs in the forefront and pick the variation that aligns with your family and needs. 

Rishita Developers has launched some of the most touted flats and apartment complexes in Lucknow, with all sites in close proximity to all civic utilities. Mulberry Villas, Celebrity Greens, Manhattan, Mulberry Heights and the latest offering, Serenity are all set to become the landmarks of Lucknow, setting it apart from all other cities and slated to become the best ever in terms of luxurious style, modernity, connectivity, security and value for money. Their previously developed residential complexes have giving the choice of 2, 3 and 4 BHK apartments.

How Important Is The Location?

Picking the location is the most important and the most difficult part of buying a flat. While every buyer has an individual preference and taste, choosing the right location that meets all your requirements can be a tedious process. Here, the factors to keep at the helm are- distance from school and your workplace, access to medical facilities and convenience stores,and most importantly easy connectivity with other parts of the city and important destinations such as the airport, railway stations and metro stations, to make commuting on a daily basis smooth. 
Though it is no secret that apartments in the city centre and prime locations will demand a higher price, many new constructions in the surrounding areas are also offering all social infrastructural facilities, which are slated to be ideal investments in the future. 
While buying a flat in Lucknow, you may consider prominent locations like Indira Nagar, Shivaji Puram, Gomti Nagar, Gomti Nagar Extension, Sultanpur Road, Faizabad Road, Butler Colony, Hazratganj, Sushant Golf City  and Shaheed Path. Gomti Nagar Extension and Sushant Golf City house some of the best new high rise apartment complexes offering many amenities around them, connectivity, the development surrounding them, prices and basic infrastructural facilities.

What Amenities Must You Pick?

Most of the new apartment complexes and condominiums offer a spate of amenities such as swimming pool, fitness centre, kids play areas, amphitheatre, and club house, and wellness facilities like Yoga, meditation zone, spa and conveniences like 100% power backup, spacious parking and security round the clock, apart from the modern inclusions like landscaped green parks, water bodies and exclusive drop off areas. 
While looking for an apartment in Lucknow, a complete recce of the complex will give you a detailed idea of your surroundings. If your family includes children, kids’ play areas and open parks would fare well while if you have elderly family members then walking tracks and a club house would be an important consideration.
Some of the most preferred apartment complexes like Rishita Mulberry Heights, Rishita Manhattan and Rishita Serenity house all of the above mentioned amenities. While being situated in the most prime localities of Lucknow, these properties are extremely conveniently accessible from all parts of Lucknow. 

How To Ensure A Credible Builder?

When you are making one of the biggest decisions of your life and putting your hard earned money into buying a flat in Lucknow, there should be no compromises. It is imperative that the builder must be of repute. Doing a background check on the building company and gathering information first hand from the residents of complexes built by the company will prove to stand you in good stead. 

Don’t get overwhelmed by the long list of builders in Lucknow. Our recommendation? Rishita Developers.
Rishita Developers has been delivering quality projects across the prime locations of Lucknow. They ensure everything is taken care of- from the fundamental design to the minimal details and offer an array of bespoke modern amenities that suited the lifestyle of the new age buyers, and are deemed to give high returns.

a. Is Taking A Loan A Good Idea?

It is advisable to look for a property that is backed and approved by a bank. It proves to be a secure option when you are investing your time, money and effort in making the most crucial purchase of your life, as usually, the banks conduct a thorough investigation of whether the project is financially feasible or not. 
A  home loan also offers tax benefits as interest paid on a home loan is tax-deductible.
Do thorough research on home loan rates offered by different banks and go with the one which is the best suited to your needs.

b. Is The Property RERA Approved?

The property, whether it is a flat, an independent house, a villa or a piece of land, it must be registered under RERA, i.e. Real Estate Regulatory Authority. An RERA approved property ensures that the developer delivers as per what is committed to the buyer, protecting the buyer from any kind of fraudulent deeds. In case of any grievances, the buyer can approach RERA. 

To make it easier for a first time home buyer to zero down on some profitable properties, 

Here Are Some Of Lucknow's Best Developments For Apartments

The new and upcoming projects in Lucknow offer a wide range of categories to suit distinct tastes and preferences of the new age buyers. Whether you’re a bachelor looking for a 1 BHK or 2BHK space, a family of 4 or 5 seeking a spacious villa or a nuclear family looking for a 3 or 4 BHK apartment, there is ample opportunity to invest in all categories. 

Rishita Mulberry Heights is spread on an area of over 21.45 acres, 16 towers, and an exotic landscape.The project faces the Golf course and is destined to become a prominent landmark in the Lucknow skyline and offers 2 and 3 BHK flats ranging from 1282 sq feet to 2250 sq feet, with prices starting ₹ 48 Lakhs to ₹ 85.5 Lakhs.
    
Kiara Residency in Sushant Golf City is a hi-tech township that offers a stunning view of the golf course, sprawling over 6.27 acres. The project offers 2 BHK flats ranging from 1039 sq feet to 1272 sq feet, prices starting from Rs. 27 Lakhs  to Rs. 33.4 Lakhs

Rishita Manhattan is spread over 9.93 acres in Gomti nagar Extension, a prime location for house seekers in Lucknow. The project is tactically planned with features that cover 4 acres of lush green open spaces, excellent power backup, a 5 star club and many more amenities.  The 2, 3, and 4 BHK flats here range from 1099 sq feet to 2745 sq feet. The prices start from Rs.  52 Lakh to Rs. 1.32  Crore. 

Excella Kutumb Spread over an area of 6.15 acres, Excella Kutumb is one of the spacious housing societies in the Lucknow region. With all the basic amenities available, Excella Kutumb’s premium 2 BHK homes start at 34.2 Lacs. 

Europa Towers in Malyari comprises a mid-rise building.offering 1 BHK and 2BHK apartment units. The 1 BHK at Rs 4250 per sq feet and 2 BHK at 1123 sq feet and 1298 sq feet and will be priced ranging from 675 sq feet to 1298 sq feet Starting from Rs. 29 Lakh to Rs. 55 Lakhs

We hope this gives you an overview of what to consider when buying a flat in Lucknow and make the right decision for yourself and your family.