Real Estate in Lucknow – Then and Now!

Once known as a small and rich cultural town, today Lucknow has earned the reputation of being the ‘smart city! The city is continually evolving with incredible development and all-around growth in nearly all spheres.

Lucknow city has always been revered for its extravagance and culture. The posh shopping areas like Hazratganj offered street shopping called “Ganjing”, which was regarded as ultra-cool a few years back. It seems that now it is being replaced by a more elevated shopping experience at super-luxurious malls such as Phoenix Palassio. The area that offered a handful of residential projects has now mushroomed to provide an array of real estate property options.

It has been observed that the city of Lucknow has tremendously changed over the last few years, with new localities emerging while the existing ones are expanding.

Development in existing localities: THEN and NOW

Kanpur Road or NH-25 has developed immensely. From being a lesser-known location to becoming an educational and commercial hub with burgeoning educational institutions and commercial complexes, this area has profusely expanded.

Another area that has witnessed bloom is Raebarelly Road. The four-lane expressway across the Lucknow-Raebarelly Road played a key role in developing this locality. Several investors who wanted to buy property in Lucknow invested in Raebarelly Road residential projects, and are reaping the benefits of high ROI today.

Sitapur Road, which is well-connected to other parts of the city, houses IIM Lucknow and the Institute of Engineering and Technology or IET, drawing a huge number of students. Due to the presence of two premier higher education institutes, several commercial complexes and residential buildings came up, catalysing development in this area on a massive scale.

The city, which was believed to have ended at Polytechnic Crossing, has now reached up to Tiwariganj on Faizabad Road. Today, it has become a hub of medical and engineering colleges with a sharp increase in the number of students working for the professional population. Many real estate developers in Lucknow have developed a various range of properties in this location.

Emerging Localities

In addition to the burgeoning development in the existing localities, many new localities have also come up.

The residential projects in Amar Shaheed Path seem to be offering promising returns on real estate investment. Several world-class residential projects are located at Gomti Nagar Extension and Amar Shaheed Path, Lucknow. You will find varied options of 2, 3, and 4 BHK flats and Villas in this area, offered by leading builders and developers. Some projects are built on more than 100 acres of Integrated Hi-tech Township, offering wonderful amenities.

These Residential Projects in Lucknow are located in the vicinity of facilities like Medanta Hospital, Women & Child care hospital, HCL IT City, International cricket stadium, and more, to provide luxurious amenities in a premium hub of Lucknow. The area is easily approachable from Airport, Railway, Bus and Metro station. It also fulfils lifestyle requirements like school, college, shopping malls, etc.

Another new real estate zone that promises future appreciation is Sushant Golf City. You will find both under construction and ready for possession flats in Lucknowin this area.

These are some of the ideal locations for property enthusiasts!

The Bottom Line

A lot has changed in Lucknow for good, but what has not changed much is ‘Affordability’. Like before, Lucknow is still an affordable city that offers accommodation at attractive rates and easy payment plans.