What’s the Best Commercial Property for investors in Lucknow?
Lucknow also known as the city of Nawabs has been an increase in demand for property in recent times. The city is known for its beautiful gardens, delicious food, historical buildings, shopping areas, and much more. The city has seen immense development over the last few years, which a number of renowned developers investing in the area.
Over the last few years, there has been a slowdown in the real estate market of Tier 1 and metropolitan cities, however, Tier 2 cities like Lucknow which is the capital of Uttar Pradesh have seen no slow down. The demand for Property in Lucknow has been shooting over the last few years.
The City of Nawabs has seen the sharpest movement in the past five years with property prices increasing more than 13 per cent. The city’s old-world charm is growing and luring more and more people to invest in the lucrative property market.
Among the top area of investment is Hazratganj which is known for its quaint bazaars, plush hotels, theaters, shopping complexes, and restaurants. Another popular area for
Property Investment in Lucknow is Butler Colony which has a well-developed social infrastructure. It houses some of the city's best educational institutes and hospitals as well as a number of leading hostels and restaurants. The posh areas are bustling with new luxury developments and are an ideal investment destination.
If you are looking to invest in
Commercial Property in Lucknow, Gomti Nagar is again a popular locality. Faizabad Road, Rae Bareli Road, and Sultanpur areas are also undergoing rapid development and will soon be developed as commercial districts thereby pushing prices and values of properties in the area further.
The Lucknow Development Authority (LDA) has recently approved the construction of a 150-meter wide ring road around the city which will give a boost to private projects in the vicinity. The government has also approved a master plan for the city which includes a Knowledge Park in between Mohan Road and Jail Road. This area is expected to see rapid development over the next few months which makes it an ideal investment destination. The Lucknow Metro is expected to be a driving force for the growth of the real estate corridors alongside. It is the best time to invest in property in Lucknow.
