Lucknow being a Tier II city offers plenty of potential options to investors and buyers in the real estate sector. In last 2 years the city has emerged as a hotspot for property investment and along with buyers and investors many big developers also entered the city's realty market in hope of great returns. According to recent studies and changing trends big names like DLF also brought their much talked about projects in the city.
Factors like developing infrastructure, changing property trends, affordable housing solutions, friendly government policies etc contributed a lot towards making this city a real estate trendsetter. Moreover Lucknow Development Authority and UP Housing Development Board also played a significant role in promoting affordable housing here. Let's talk about these factors in detail here:
Appreciation Value
Over the last 3 years the property trends in Lucknow has seen a substantial price escalation as compared to other parts of the country. While the land rates in Lucknow city appreciated somewhere between 100%-300%, the ready-to-move-in apartments saw a growth of almost 100%. While the state sponsored housing schemes saw only 80% appreciation. This trend was not only visible in the residential sector but also in the commercial and retail sector also. It would not be wrong to add here that Lucknow city's real estate market is much more realistically priced when compared to other Tier II cities. Even the realty experts have also predicted a growth of 5.5% in the residential properties in the city. It is this reason that developers like DLF introduced their much appreciated project like - DLF Gardencity Lucknow here.
Changing NRI Real Estate Trends in Lucknow
Not only the domestic but even the international buyers are investing in the real estate market of Lucknow city. These days more and more NRIs are investing in different projects across Lucknow city, in order to earn great profits in return. The appreciation value of land in Tier II cities is one of the biggest reason that is attracting NRI investor to cities like Lucknow, Agra, Chandigarh etc. Cost effective construction and developing infrastructure has contributed a lot towards establishing Lucknow as a favorite investment destination. The fully developed township (for example DLF Gardencity plots) has found many buyers who prefer secure environment equipped with all the ultra-modern facilities and amenities (that one require to spend a luxurious and elegant lifestyle) all under roof.
Factors like developing infrastructure, changing property trends, affordable housing solutions, friendly government policies etc contributed a lot towards making this city a real estate trendsetter. Moreover Lucknow Development Authority and UP Housing Development Board also played a significant role in promoting affordable housing here. Let's talk about these factors in detail here:
Appreciation Value
Over the last 3 years the property trends in Lucknow has seen a substantial price escalation as compared to other parts of the country. While the land rates in Lucknow city appreciated somewhere between 100%-300%, the ready-to-move-in apartments saw a growth of almost 100%. While the state sponsored housing schemes saw only 80% appreciation. This trend was not only visible in the residential sector but also in the commercial and retail sector also. It would not be wrong to add here that Lucknow city's real estate market is much more realistically priced when compared to other Tier II cities. Even the realty experts have also predicted a growth of 5.5% in the residential properties in the city. It is this reason that developers like DLF introduced their much appreciated project like - DLF Gardencity Lucknow here.
Changing NRI Real Estate Trends in Lucknow
Not only the domestic but even the international buyers are investing in the real estate market of Lucknow city. These days more and more NRIs are investing in different projects across Lucknow city, in order to earn great profits in return. The appreciation value of land in Tier II cities is one of the biggest reason that is attracting NRI investor to cities like Lucknow, Agra, Chandigarh etc. Cost effective construction and developing infrastructure has contributed a lot towards establishing Lucknow as a favorite investment destination. The fully developed township (for example DLF Gardencity plots) has found many buyers who prefer secure environment equipped with all the ultra-modern facilities and amenities (that one require to spend a luxurious and elegant lifestyle) all under roof.
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