According to the latest report published by CRISIL (Credit Rating Information Services) Lucknow, real estate is going through a rapidly increasing phase. A lot of investment and construction activities are going on at various places simultaneously. Property in Lucknow area is much in demand these days. Not only this, Lucknow is emerging as one of the fast growing real estate markets in India. Many of the realtors are investing their money here for business purposes.
People have changed their mindset and have become modern these days. Many of the families are shifting from traditional homes to new and posh apartments as this will elevate their standard of living considerably. This is one of the important reasons why people are buying real estate here.
Lucknow is emerging as one of the fastest growing place
Lucknow’s real estate property can be broadly divided into two main zones, namely Old Lucknow and New Lucknow. Some of the famous places like DLF Garden city are in Old Lucknow. Many of the houses here are built independently. To make way for new places and construction sites, New Lucknow came into picture. This place is the solution to many rising buildings and societies. Since it the capital of India, it has gained special attention by government and other related communities. This place has witnessed great infrastructural development that gave a much needed boost to the real estate sector.
Newer projects are coming soon
New deals have been proposed which has given rise to three new metro projects. This will give Lucknow much required push and will help in revealing much need potential. Other than this, construction of huge bridge is going on in Trans Gomti region especially Gomti Nagar Phase I, Phase II and Gomti Nagar Extension. This construction has attracted many new builders as well as end users to invest in this site.
Government plays a key role in real estate development
Many more constructions have come up looking at the development of Lucknow. This area is also growing well in terms of developing roads and making a good network of transportation. All the areas are well connected to each other with a dense network of roads. Sahara Hospital and Ram Manohar Lohiya Hospital are two major hospitals located in the Gomti Nagar area. Thus Lucknow has made tremendous growth since the advent of new construction sites and programs.Lucknow Industrial Development Authority (LIDA) has given funds to the developers for government constructed sites. This has fostered the development of this place on a larger scale. Keeping in mind the ethics and this place, construction is being done accordingly. Lucknow Industrial Development Authority (LIDA) is also paying funds for the development of city realty market especially on the Lucknow-Kanpur Road section. Many of the newer projects are coming up in this area giving way to more development and prosperity in such newly found areas.
Thus, many projects are coming up in Lucknow making it a hub for real estate and investment. People are continuously trying to make the most out of the recent upliftment in real estate industry. Overall, Lucknow market is going to establish its mark in coming times thus it is the right time to invest here.