Lucknow Properties – Real Estate Development in Lucknow

Lucknow is one of the ancient cities dating back to the Mughal period. It is the administrative capital of Uttar Pradesh. Real estate in Lucknow has great prospects. It has also help in growing Indian economy from strength to strength. Lucknow properties are in great demand today. The market of Lucknow properties has not just doubled in size but also displayed an entire paradigm shift to a more contemporary real estate development form. Various upscale properties are coming up in different parts in and around Lucknow.

Lucknow Development Authority (LDA)

>The main metropolitan development authority that recognizes new land in Lucknow is LDA or Lucknow Development Authority. Once the new land is recognized then auctions to the potential buyers takes place. The LDA was established in 1973. It is working on many projects like land, healthcare, making building, and much more. It is also responsible for developing the urban area in the city. LDA works below the Association of Urban Management and Development Authority India. Various fields where LDA is working are land, water supply, making road and streets, building constructions, developing infrastructure, legislation, transport, finance, environment planning, making colonies, shelters, and urban economy. LDA is currently working on various projects. Some of these are Aishbabh project, Ajadnagar project, Gorntinagar scheme, Aliganj project, and Hardoi Road scheme. LDA has come across various achievements in city. Some of these are as follows:

  • Development of pollution free and eco friendly colonies.

  • Development of residential complexes, offices, commercial complex, and school plots throughout Lucknow.

  • Renovation as well as improving various public places.

Various builders and developers in India have bought the available LDA approved plots for sale in Lucknow. These include residential as well as commercial properties in the city that are epitome of luxury and a new lifestyle. The LDA has extended a hand of cooperation towards the private builders in north India to develop colonies and township in old city of Lucknow as well as new suburbs along the Faizabad, Kanpur, Sitapur, Hardoi, and Rai Bareli Highways.

Lucknow is home to various handlooms, small-scale industries, and handicrafts industries, as well as sugar and leather goods industries. A new sector emerging is the IT industry with setting up of various Software Technology Parks and Biotech Parks in Lucknow. The industrial economy base in Lucknow has attracted many immigrants from neighboring towns and states thereby increasing the demand for adequate residential property in Lucknow.

Residential Properties in Lucknow

The leading residential property in Lucknow is available at Civil Lines, Hazratganj, Mall Avenue, Indiranagar and Gomti Nagar. Then there are colonies like Alambagh, Aminabagh, Chowk and Kaiserbagh that have a bit congested residential set up.

Top builders and developers in India are coming up with various projects in Lucknow. Some of these are:

  • Omaxe Builders: Omaxe builders have come up with Omaxe city that is integrated township made up of international standards. It is located on Amar Shaheed path on Raebareilly Road. The city contains residential properties, hospital, expandable villas, provision for hospital, school, commercial complex, and much more.

  • Eldeco Builders: Eldeco builders are working on various projects in Lucknow. Some of these are Eldeco Greens Apartments, Eldeco Udyan, Eldeco Greenwoods, Eldeco Park View Apartmnets, Eldeco Eden Park Estate, Eldeco Towne, Eldeco Elegance, Eldeco Empereur, and Eldeco Sanskriti Enclave.

  • Parsvnath Builders: Parsvnath builders is one of the India’s leading real estate developers. They offer majestic array of lifestyle inspired by beautiful themes. They have come up with nice project in Lucknow.

  • Uppals Builders: The Uppals builders are working on new project Plumeria Homes.

  • Sahara Housing: Sahara housing is one of the country’s leading real estate. It has launched Sahara City Homes Township Project in Lucknow.

In the past two years, the property investors have earned returns of more than 20 - 50%. Plots for sale in Lucknow have the maximum rates in the properties being developed by Omaxe Builders and Eldeco Group . Second to them is property in Janakipuram and Indirapuram, followed by Hardoi Road, Sitapur Road and Rae Bareily Road.

Commercial Properties in Lucknow

Premier Commercial property sites in Lucknow are the Hazratganj, Gomtinagar, Indiranagar, Mahanagar, and Janakipuram commercial areas. The upcoming office complexes at Kapurthala, Shalimar Corporate Park and Pinnacle Towers are the next IT destination in Lucknow real estate market. MG Road still commands the commercial property market in Lucknow along with conventional retail markets in areas like Hazratganj, Aminabad and Kaiser Bagh.

Besides the office complexes and retail markets, many new-age multiplex theaters, shopping malls, leisure zones and amusement parks have also come up as the contemporary commercial property in Lucknow. Top builders and Developers in India are investing big time in developing commercial properties at par with the rate of development of their residential counterparts.

To buy any residential or commercial property one needs to contact the local property dealer in Lucknow. Real estate agents in Lucknow give you complete property listings in each property segment and also help you with the housing finance and registration part. For further queries and information on anything related to Real estate in Lucknow, browse through our verticals to get a detailed picture.

Lucknow real estate benefits a lot from low interest rates with regards to purchase of property initiated by the Indian government. Investors can expect nearly 20% returns per year from Lucknow real estate. Non Resident Indians are also investing in Lucknow properties. The real estate in Lucknow is flourishing market because of flexible lending rates offered by the banks in collaboration with central government. The Lucknow properties have boomed to great extent due to improved infrastructure. The demand for residence in Lucknow is maximum and has spread across Lucknow city. It is not only restricted to some few areas. The need for security has encouraged buyers to make preference for apartments than the independent houses. The capital value of the land might exceed nearly Rs 2000 per square foot. But this depends on location as well as proximity to landmark areas.