Real estate landscape in India is evolving rapidly, and Lucknow, a Tier 2 city in Uttar Pradesh seems to be leading from the front. 

However, if you are thinking that real estate investment in Lucknow is worth your capital in 2024, you are at the right place. 

Lucknow has been at the forefront of development in the last few years. The credit for this goes to transparent governance, infrastructure development, and the rise of the employment and education sector in the capital city. 

Therefore, today, let’s dive deeper into the real estate landscape of the city and debunk the reason that makes it a viable investment option in 2024. 

What makes Lucknow a popular commercial investment destination?

Thought should be given to investing in Lucknow’s commercial sector for five main reasons. These factors rank among the most crucial ones when it comes to investing in real estate in Lucknow, and most investors base their choices on them. 

These include future growth, affordability, rising property values, high rental rates, and population growth. Here’s a thorough rundown of these variables. 

  • Population Growth: The City of Nawab is experiencing an increase in population due to migration. Lucknow has experienced a notable increase in population as a result of the establishment of IT hubs, increased employment and educational opportunity. The swelling working population and increasing migration of students seeking higher education are driving up demand for residential apartments.
  • High demand for rental spaces: As infrastructure develops, so does the demand for properties to cater the growing demands of the residents. This massive demand is making high rentals conceivable. Putting money into high-end projects like Migsun Janpath in Sushant Golf City could bring long term gain with stable rental income.
  • Increased Property Value: Among other places, the city has made major improvements to Sultanpur Road, Raebareli Road, Shaheed Path, Gomti Nagar Extension, and Faizabad Road. The market value of properties in these areas are currently quite affordable but has shown great capital appreciation in the last few years.
  • Reduced cost of living: Cost of living in any city plays a significant role defining the quality of life for its residents. Given that Lucknow’s cost of living is at a lower end, that makes sure that one enjoys all the comfort at an affordable price. 

What is the best region in which to invest in Lucknow?

Well, there are a lot of areas in Lucknow that are currently expanding and under development. However, from an investment perspective, the Shaheed Path region should be your go-to area to find the best property. 

Commercial developments like Ekana Mall in Ekana Sportz City and Migsun Janpath in Sushant Golf City are making a wave with their new-age developments. These are changing the way Lucknow perceives the real estate dynamics, making it a great choice to consider for investment. 

About Amar Shaheed Path Road

Amar Shaheed Path, a 2012-commissioned elevated thoroughfare that links Lucknow’s Faizabad Road to Kanpur Road, relieves traffic on NH-56 and NH-24. 

The area, which lies south of Lucknow, is bounded by the rapidly developing towns of Gomti Nagar, Shaheed Smarak, and Hazratganj. The area is a mix of industrial zones, high-rise apartment buildings, villas, commercial and residential plots, and incredible township projects like Ekana Sportz City and Sushant Golf City. Since the area appears to be promising in the long term, investing in commercial real estate in this region of Lucknow is well worth the cost. 

The Gomti Nagar railway station and metro station are both easily accessible within a 4-kilometre radius for multimodal connectivity. Additionally, the region is also well connected through the services provided by the UPSRTC. 

Because of the increased business activity in the area and the proximity to major corporations like HCL—which can be reached in about 15 minutes— employment opportunities near Shaheed Path Road are also increasing. There are already businesses here, such as Hipster Pvt. Ltd. and MRD Life Sciences Pvt. Ltd. In exchange, this is a fantastic offer for anyone searching for commercial real estate in Lucknow since the region will undoubtedly provide a high rate of return on investment down the road. 

Wrapping Up

One of India’s Tier 2 cities with a developing infrastructure, Lucknow, is rapidly evolving. The city is undergoing a phase of transformation because of effective local and administrative government.

The main factors driving the demand for residential real estate in Lucknow include the city’s expanding population, the possibility of generating large rental returns, the accessibility of the area, infrastructure, and advancements in the job and educational sectors. Lucknow is a highly populous city due to its historical significance as the capital of Uttar Pradesh and its age.

On the other hand, there are recently constructed suburbs in the city that are well-connected to all of the main attractions. Sultanpur Road, Gomti Nagar Extension and Shaheed Path Road are some of the best regions to watch out for.