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Top Localities in Lucknow

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Real Estate in Lucknow

Lucknow is witnessing rapid infrastructural growth as the quality and standard of living is improving. This is an important factor, which is strengthening the city’s real estate. Lucknow has become a promising real estate hotbed. The ROI is increasing day by day in leaps and bounds. It is known as the second-largest city in north India. In recent years, Lucknow has witnessed many privates, investors and builders, in the city’s real estate market. The private sector’s contribution to the real estate market by making huge investments is accelerating the supply of real estate demand.

According to the reports, the inquiries for the property have increased in the tier-2 cities and Lucknow is ahead of many metro cities. Lucknow has made it to the top 20 cities as per the Indian Residential Index (IRIS). This city is brimming with new real estate investment avenues. Lucknow is soon to be the epicentre of real estate growth in North India.

Lucknow is emerging as the hub of food processing, manufacturing, electronics, IT, banking and the real estate. It is forming many of the upcoming growth corridors and massive infrastructure developments projects. This city of Uttar Pradesh state has undoubtedly witnessed rampant development that is establishing a multiplier effect on Lucknow’s overall growth.

Market Size of Real Estate in Lucknow

Lucknow real estate market size is larger like the cultural varieties of the city. It has lavish apartments, numerous independent houses and even some gorgeous villas that no buyer can deny for purchase. The only difference is the bedroom units and their price range that varies from locality to locality. On an average, 1 BHK and 5 BHK bedroom units are the frequent choice of the population here. Also, commercial workspace and retail stores have increased their operations in the past few years. That is why some of the commercial shared centres have also become the developers choice to make big money. 

Infrastructure and Connectivity

The city of Nawabs has witnessed frequent development programmes in the infrastructure and tourism sector. With National Highways 24, 24 B, 25, 28 and 56, thorough connectivity has  been facilitated for the residents. Along with this, the Uttar Pradesh State Road Transport Corporation also encourages the travellers with affordable commute facilities with various intercity buses. Also, the inter-state bus stand in Alambagh is another connectivity benefit the residents are provided with.  Known to all, Lucknow has so many trains with multiple stations to facilitate connectivity effortlessly. At the same time, the city is soon to be added in the list of smart cities with its metro lines which are currently under construction. This bicycle-friendly city is even more than just the transport stuff. Due to major decisions taken by the  state government., the IT infrastructure is also in the pipeline that will hike the demand of real estate properties in the near future. Similarly, the connectivity between the Gomti River and Shaheed Path have also invited developers to establish residential projects on these sites. Apart from this, 2 flyover projects and a grand stadium are also on the way to make the city futuristic. 

Demographic Statistics by Population

As per the Census report 2011, the demographic attributes of the UP capital city has a population at around 2.8 million. In this, the growth rate can be estimated at a 25.36% rate which is more in comparison with the 2001 year report. As the city has a strong background of literature, the literacy rate is found to be at 84.72%  which contributes the highest in the whole state literacy rate. 

Home and Living

The residence and living standard in Lucknow is impressively increasing the bar with each passing year. There are multiple business hubs and manufacturing units that has contributed highly in the economic growth rate of the city. Localities like Amar Shaheed Path, Faizabad Road, Gomti Nagar, Raebareli Road, Gomti Nagar Extension, Hazratganj and Sultanpur Road are well connected with National Highways that makes it best as a residential area. 

Lifestyle

Lucknow is the city of elegance that is reflected in its clothes, its culture and even in the people’s etiquette. It is even active with brilliant historical monuments, festivals and landmarks. As the rulers have left the legacy of art and music, the city is still fond of offering its residents and tourists with some amazing poetry sessions, dance programmes, theatre and music pieces. In fact, the attractive part is its modernisation which is happening on a larger scale and faster pace. One may not even miss out on the eateries section as the menu is set with not just Indian cuisine but also the continentals. Interestingly, it has a huge fan following for its festivals too such as Mahotsav that takes place once in a year. There are uncountable malls and amusement parks as well such as Sahara Ganj Mall, Phoenix Mall and Fun Republic Mall, and Anandi Water Park and Four Season Fun City. 

Real Estate Future and Growth Opportunity in Lucknow

Lucknow has lately become a land of progress and prosperity. It has set up several manufacturing units for furniture, distillery chemicals, machinery instruments, and, of course, the chikankari clothes. Besides this, the National Handloom Development Corporation and UP Export Corporation have seen tremendous growth in past years. At the same time, Tata Consultancy Services, Reliance Retail Business, and Sony Corporation have set up their offices, which has hiked the growth rate faster than ever in Lucknow’s history. The city has gained a good reputation for glass products, leather products, and textiles that have grabbed the interest of businesses. These all contribute cumulatively to a high rise in the employment rate. Thus, the demand in the real estate sector will also jump in the near future, which will eventually garner potential investors to settle down with residential and commercial objectives. 

Top Localities with Price Trends

Explore the property price trends in the Lucknow real estate market in the below-given table:

Top Localities In Lucknow for Rent / Sale

As per the reports, a significant rise in property registration was seen in the year 2009. Along with this, developers have launched their major residential projects, such as Sushant Golf City, which is a well-identified city township that is spread over 3,530 acres of land. Similarly, Omaxe City, with 14 acres of land, Eldeco City, Shahar City Homes, DLF Garden City, and One Place City are also brewing. Let us find out the best localities for rental or purchase purposes in the below mentioned list with thorough information:

Indira Nagar

This is one of the most expensive localities in Lucknow and calls for some astonishing properties. Ir is even popularly known as a preeminent residential community which is closely situated to Kalyanpur, Gomti Nagar and Hazratganj areas. For a perfect family life, people may rely on their nearby educational institutions, such as United World School, Academy High School, etc., for their children. There are even some reputed healthcare centres such as Shekhar Hospital and CNS Hospital near the residential site. The place serves as an entertainment spot as well, with Arvindo Park, Fun Republic Mall, and Lekhraj Market. 

Hazratganj

Hazratganj is an old locality that has a good collection of real estate buildings that win the visitors' hearts. In fact, the area is impressive with commercial centres as well as close proximity to some lavish gated communities. Scholars may look for A-graded educational institutions such as Christ Church College, St. Francis College, Fun N Learn School, Cathedral School, and more. Interestingly, the space is filled with excellent marketplaces, malls like Miniso, Sahara Ganj Mall, Oberon, and even restaurants with delicious menus. And yes, if you are fond of wearing Chikankari kurta, this place must be your favourite shopping centre too. 

Gomti Nagar Extension

In Lucknow, two very famous localities are Gomti Nagar and Gomti Nagar Extension, which are in almost the same locality of the city. It is basically named after the river Gomti, where it is located. This is an advanced area where the best constructed properties are found with uncompromised amenities. There are also some commercial spaces that belong to renowned companies in different sectors of business. For a professional exterior, Gomti Nagar offers the best quality properties starting from 2 BHK to 6 BHK bedroom units. The major point is its closeness to Fun Republic Mall, City Mall, and Wave Mall, which are the best entertainment places. Also, this area is well connected with the entire city for regular and reasonable commutes.

Mahanagar

As the name suggests, this locality is a well-developed area in Lucknow with grand buildings and residential houses, established by renowned developers. It is immediately active with many designated owner’s independent houses and high-rise buildings. Some educational institutions, such as Isabella Thoburn College and Hoerner College, to name a few, are situated near this locality. Also, the neighbouring posh areas such as Aliganj, Hajratganj, and Gomti Nagar are located nearby. 

Projects in Chennai: New Projects in Lucknow, RERA 

Look at the RERA approved properties in Lucknow, established by big banners of the real estate market.

Property Investment Options in Lucknow 

The investment options in Lucknow flourished with different floor plans and constructional benefits. In fact, several amenities never disappoint buyers with stunning returns on their investment. 

Apartments

Being the capital of Uttar Pradesh, Lucknow has multiple residential options for people with different requirements for rent as well as purchase. The ideal places to get residential property in Lucknow are in Indra Nagar, Hazratganj, Gomti Nagar Extension, Mahanagar, Aliganj, Amar Saheed Path and many more. The localities have residential spaces ranging from studio apartments to 6 BHK homes. The price range for rental purposes starts from INR 2,850 to INR 2.5 lakh and the price range for making a purchase of the property starts from 5.2 onwards. The various configurations of properties come with different furnishing option as well

Independent Houses

The independent houses in Lucknow are undoubtedly the centre of attraction, which reflects its traditional designs and artefacts. It can offer buyers 3 BHK to 6 BHK bedroom units. Along with this, some localities are even fitted with surrounding amenities and retail that let the residents live a comfortable life. Along with this, the price range is even not overwhelming as it starts at 34 lakhs and goes up to 4.2 crores only. The area is quite secure in Lucknow, where independent houses can be easily found with an incredible floor plan. 

Land

Vacant land in Lucknow is a future-oriented investment plan where brewing perks can benefit the buyer. This can give you the great benefit of designing your abode according to your family's requirements. It can be your secondary source of income along with renting the space for agriculture, if you are far from the mainland. You may also use the infrastructure as a rental apartment structure, as there are a good number of tenants who look for rental living spaces. This type of property can range the buyer between Rs. 18 lakhs to 1 crores effectively.

Villa

Villas are beautiful properties that one may not skip giving a thought to. Lucknow’s villas are well-crafted and have space for a ‘Nawabi’ living. It offers 1 BHK to 6 BHK bedroom units with garden areas and a wide terrace. It also has a separate area for parking and never compromises on opening your bedrooms with a spacious balcony. As per the real estate growth of the city, it won’t be wrong to state that it is a prestigious property to invest in. 

Lucknow’s Top Real Estate Companies 

Lucknow is well-flourished with highly professional real estate developers who have made the city one of its kind:

Builder Name Number of Project
Ansal API 44
Eldeco 42
Shalimar Corp Limited 26
Rohtas Builder 22
Paarth Infrabuild 18
Omaxe 17
Signature Group 16

FAQs

1. How is the real estate market in Lucknow?

Ans. Lucknow is expected to have a great hike in the real estate market due to high migrant possibilities and commercial settlement by MNCs. 

2. Why are property rates so high in Lucknow?

Ans. Lucknow has seen a high inflation rate recently due to the high growth in the population as people switch career options and businesses. 

3. Is it reasonable to buy property in Lucknow?

Ans. As compared to other smart cities in India, Lucknow is way more progressive yet affordable to buy a property in the current real estate market due to its futuristic projects soon to be possessed. 

4. Which is the most expensive place to live in Lucknow?

Ans. Hajratganj and Gomti Nagar Extension are some of the posh localities to live in Lucknow with nearby retail benefits.

5. How much does an apartment cost in Lucknow?

Ans. In Lucknow, an apartment can cost 32 lakhs on an average for a decent constructional benefit. It may vary as per the floor plan, bedroom units, and local real estate demands.

6. Lucknow vs Delhi Real Estate Market?

Ans. Delhi has progressed more in terms of infrastructure and business opportunities than Lucknow. whereas Lucknow is still in its developing stage with a higher rate.

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