The real estate sector of India is riding the growth carousel with a multitude of state-of-the-art projects onboard. The major markets are noticing an impeccable development due to the extraordinary transformation in their infrastructure.

While several cities in the North, including Gurgaon and Noida, are noticing huge demands in this sector, there is another city where a new trend is gaining momentum. Lucknow, colloquially known as the City of Nawabs, is registering a monumental shift when it comes to the thriving real estate market for homebuying and commercial establishments.

Why Lucknow is a trending city for investments?

Lucknow has engraved a rich history in its name, along with a splendid cultural heritage. The collaborative efforts of the state government and the local authorities are continuously scripting its real estate success. The city is witnessing tremendous progress, facilitating investors and homebuyers with an incredible opportunity to secure a place in its growing economy.

The commendable development pace of Lucknow is driving high ROIs for not just end-users but investors are reaping the benefits of investments too. The City of Nawabs provides easy access to the national capital Delhi via the Lucknow Expressway and Yamuna Expressway while connected to the eastern UP via the Purvanchal Expressway.

Finding a suitable residential property with an upscale lifestyle or having a premium commercial property in Lucknow is no more a myth. The city serves every requirement of a potential investor and a homebuyer.

Why Lucknow should be your next investment destination?

Being the capital city of Uttar Pradesh, Lucknow is growing at a rampant pace. With the introduction of state-of-the-art residential and commercial projects as well as industrial avenues, its economy gets a significant push, assuring an incredible return on investment.

The infrastructural empowerment, thriving economy, comprehensive connectivity, and inclusive efforts of local authorities in collaboration with the state government have given Lucknow the dream start it needed. Small localities, such as Gomti Nagar & Hazratganj, are becoming the business epicentres and best residential sections. Other geographical avenues - Faizabad Road, Rae Bareli, and Sultanpur - are among the new likes among locals.

As per the state implementation master plan of 2021, Lucknow real estate is projected to witness drastic changes in the coming years. This will be done to serve the growing population which includes both the migrant workforce and native people of the city. It is estimated that the city's rapidly growing population will touch the 65 lakh mark by 2031 from the current 45 lakh, creating a major demand for real estate in Lucknow.

Lucknow - An Emerging Housing Destination

A number of state-of-the-art residential and commercial projects are defining Lucknow's skylines. Prominent developers have established a robust presence in the city's real estate arena. Upcoming commercial projects and residential townships, such as Sahu City Lucknow, Migsun Janpath, Rishita Mulberry Heights, Ekana Mall Lucknow, etc., are marking huge investments from both investors as well as homebuyers.

Since the inception of the metro rail project in 2017, there has been a remarkable transformation in the city's interconnectivity and public transport system. The city marked 10 lakh footfall in its first 70 days, which is worth a mention to signify extraordinary growth. Highlighting the growth of housing projects, the city has shown exponential growth in recent times, which can be clearly seen.

Top Residential Projects in Lucknow

Amravati IT City: An upcoming business and IT hub in Lucknow South, Amrawati IT City is a sprawling residential township on a 49.91-acre land with 322 units spread across 1076 sqft to 5382 sqft. The project is well-connected to Sultanpur Road, an arterial road in Lucknow.

Excella Premio: A premium gated community in Lucknow's Gomti Nagar, Excella Premio offers exquisite landscaping and a world-class infrastructure. Sprawled over an area of 1050 sqft, this residential project enjoys easy connectivity to Gomti Nagar Railway Station, Shaheed Path, and other important locales of the city.

Levana Celebrity Gardens: A premium residential property in Lucknow South, Levana Celebrity Gardens provides apartments in three categories - 2/3/4 BHK with sizes ranging from 1270 sqft to 3845 sqft. Providing seamless connectivity to the famous Lulu Mall, this project is easily accessible to Shaheed Path and other top locations.

Rishita Mulberry Heights: This project brings an opportunity to people who want to invest in something that sets a bar in the city of Lucknow. A giant residential township spread out over 21.45 acres of land, showcasing world-class features with seamless connectivity, security cameras, 24-hour electricity backup, and everything a contemporary homebuyer wants, all in one place.

Excella Kutumb: The Excella Group, one of the best real estate developers introduced its first product Excella Kutumb in Lucknow. The builder is striving to create great dwellings at average price points for the ordinary citizen. Kutumb provides 750 ready 2 and 3-BHK apartments for homeowners spread over an area of 6 acres. Beautiful houses will be located in serene waters and with vibrant vegetation around creating a peaceful ambience for homebuyers.’

Lucknow - A Hotspot For Commercial Projects

A significant change in consumer behaviour and the proliferating economy are considered to be the main drivers of the boom in Lucknow’s real estate market. Also, good governance, huge investments and fast growth in infrastructure make Lucknow quite a promising market for commercial real estate.

The city is already full of various opportunities that add to its economic development. Moreover, the developers are of a positive view that Lucknow will become an alpha real estate in Northern India within 5-10 years. The Green Corridor project for Lucknow is also in the works, and this seems to be a massive plan as only a year ago about ₹4000 crore were churned out by the state government. The 28 km long project will cut travel time from one end of the city to another by 45 minutes once completed.

Experts also considered that Lucknow is the focal point of Uttar Pradesh’s effort to develop a stronger economy. It can be said already the contribution of the city’s GDP to UP’s total GDP is 3.85%. Additionally, its good connectivity, social facilities, and open spaces allow proper growth of plants as well the fact that it provides areas for investing in real estate is growing even more interest in investments in commercial properties.

Whether you’re looking for a retail shop for your small business or seeking to rent an office space in Gomti Nagar, Lucknow and reap the benefits of high rental income, Lucknow must be your one-stop destination for commercial real estate.

Final Thoughts

The real estate outlook of Lucknow seems to be quite promising because of its growing economy, quality infrastructure, and better connectivity. Apart from being the UP's capital city, the City of Nawabs is among the best places to establish real estate property. However, it's important to conduct thorough market research or consult a real estate agent to avoid any fraudulent activities.