New Horizons of Lucknow Properties

 New Horizons of Lucknow Properties


Rapid growth of real estate in Lucknow has changed the demographic scenario of the city as  Flats in Gomti nagar well. Being an old city there is not much space left in the core city for further development. Therefore, Lucknow real estate builders are now shifting focus and launching their projects especially in the outskirts of the city.

The transformation of Lucknow real estate market can further be accredited to the surge of construction activity primarily in the residential sector. Lucknow real estate developers are coming up with number of township projects on the outskirt of the city.

One such project by Sahara City Homes is in full swing and the possession of property will begin in the year 2009. A total of 30 blocks are under construction. These 30 blocks will house 1620 residential units. The construction of other blocks will commence by the end of this quarter. This project is spread into 175 acre on Hardoi Road.

Besides, Eldeco is developing a 200 acre project, called Eldeco Town on Sitapur road. The range of these apartments is between Rs 20 – Rs 50 Lakhs. Other national builders like Omaxe, Ansals, Parasvnath, Rohtas are also developing their residential project in the suburb of the Lucknow.

The localities of Gomti nagar, Mahanagar, Janakipuram and Indiranagar have now developed as the new residential centers. To buy a 3 BHK (1775 sq ft) apartment in Gomti nagar, Lucknow one has to shell out around Rs 35 Lakhs. The rent in Gomti nagar is about Rs 10,000-14,000 per month. On the other hand, the capital value of a builder floor apartment in the Aliganj and Jankipuram ranges around Rs 25 Lakhs for a 1000 sq ft area. The rental value in Aliganj is approx Rs 9,000 per month and it varies according to size and floor of the apartment unit.




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