The Lucknow Report
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How much affordable lucknow real estate market for home buyers?


LUCKNOW Real estate Update : Until three decades ago, a plot of land was probably the one asset most people saw as a life goal. Apart from being their “permanent address” after construction of a house, it was an investment and a security for their future generations.
The dream was guided by the factors of budget and location—in that order—for most middle-income families.

The city of nawabs is no longer a Tier-2 city in terms of its dimensions. Neither is the growth unidirectional. Development, disposable incomes, increase in the number of jobs and a resultant growth in real estate is for everyone to see. Trend watchers believe that in the last few years, luxury projects have followed new corridors of growth and property prices have escalated. All this hints at the rise in housing demand, attracting many end-users and long term investors.

Indiranagar, Aliganj, Alambagh and Mahanagar were among the sought after residential colonies. Plot sizes ranged from 2,000 sqft to 8,000 sqft and gardens adorned the frontage of houses. The basics of good road, effective drainage and proximity to public transport used to be primary concerns. To have a park in front of the house meant you were lucky!

Img Source: Google

As the city grew, more residential colonies started to develop and planned housing became affordable in other localities.

With population came the real estate boom and the ‘apartment culture’ seamlessly took over the city. With young professionals settling in the city, it wasn’t a “big house” that they wanted but a manageable and safe one.

As a centrally located city which has excellent connectivity to Delhi, it is a wise option for home buyers. The city has very good schools, markets and health facilities to offer to residents.

“On top of that, the warmth and culture that Lucknow offers is unmatched in north India. That makes it the first choice for settlement of people from other cities too.