Paarth Infrabuild

Price Trends of Properties in Lucknow

While looking to buy a new property it helps to check as to how have the prices moved in a particular market. It is important to check this both for the larger city/ geography as well as for the micro-market where one is looking to buy a house.There are several institutions which release data on price trends for major cities in India, however, the one released by National housing bank as NHB Residex is used most often. There are price trend charts also available for different localities within a city as shared by various property portals like 99 acres and magic bricks.

Lucknow is one such market that has continuously shown an upward moving graph for residential properties in all major localities of the town. A generally upward moving graph suggests that the city/ area is being favoured for buying property, while a downward graph is for a city/locality which is not being liked in general. Considering this, study of price trends could be a great starting point while zooming in to decide where to buy a property and price trend charts for Lucknow suggest a highly positive propensity to buy a residential property here.

Lucknow is one of the few cities in India, where the Housing Price Index has shown a strong positive movement both for constructed as well as under construction properties. Since June 2019, the quarter on quarter increase in properties has been remarkably positive and has touched almost a 10% year-on-year increase in certain localities. The neighbourhoods which have seen the highest annual appreciation in property prices are Gomti nagar, Gomti nagar extension, Kanpur road and Raebareilly road. This is very encouraging considering that prices in most of the cities across India have fallen in last 2 years.

This price trend becomes even more interesting when we look at it from the perspective that there is an increasing demand for bigger unit sizes post Corona induced pandemic. It is also important to note that Lucknow market offers excellent opportunities to buy in certain localities which are in and around Gomti nagar and Kanpur road area. Considering few good properties on offer in these areas and a favourable disposition to own these, it presents an excellent opportunity to invest here.

The onset of pandemic has also ensured that economies world-wide increased money supplies to reduce the impact of lockdowns on their economies and their citizens. This has resulted in increased flow of money in developing markets like India, which is sure to find its way into property market. This when coupled with the fact that the housing loan interest rates are at historically low levels, makes this opportunity even more inviting. A recent report from HDFC, the largest mortgage lender of India, also shows that with increasing salaries, the affordability of properties have increased substantially.

All these factors make year 2021 as the year of turnaround for property markets across major cities in India. Lucknow, which has not faced the heat faced by other property markets in last few years, is expected to lead the wealth multiplication in property investments. With a massive vaccination program underway and people looking to come out after a hiatus, the hope for economy doing better is on the horizon. If one scans the news, the new deals in properties are showing a firm and definite trend towards positivity. There are more people looking for property now compared to previous years, while the new supplies have not been created in last few years. All these facts will lead towards an impending property boom in near future.

Indian property market is at a point of inflexion right now. While we discussed about some of these factors in previous paragraphs, there is a larger play expected because of the various economic reforms initiated by government in last few years. There was a clampdown on cash transactions, which had hit the property sector adversely in short run. However, this is forcing more transparent buying and selling of property. Such measures always help improve the customer confidence and it will result in more customers getting encouraged to invest in property. Also UP RERA has been one of the most proactive regulator body. This is another measure which has helped improved customer sentiment. While this had a negative impact initially, as builders and customers were trying to understand its implications, RERA is expected to give new impetus to property market.

The structural demand for housing in India will continue to flourish in many years to come. A population which is still very young with majority of them just entering the employment creates ample requirement for housing. Various government incentives like Income tax waiver on one side and interest subsidy for small dwellings on the other are enticing buyers. While historically 37-38 years was the age when people typically bought property, with various incentives and increasing incomes is expected to push people in early 30s towards buying their own home.

There is absolutely no doubt that the money supply is increasing and we will see many large deals by private equity players in India. Lucknow as a market has emerged as a popular choice for multiple real estate players to offer residential properties. There has been consistent improvement in infrastructural facilities in the city. All these factors are sure to support the structural expansion of residential property market of Lucknow. While property market is looking at a bright future, the expectation of a high growth regime is looking a certainty on the Indian horizon. IMF has predicted a 11.5% GDP growth for India for 2021-22. This will result in a never before seen expansion of employment opportunities and swelling incomes.

Paarth infrabuild has always ensured keeping its customers at the center and helped buyers derive value from their property purchases. With its residential developments in the fast appreciating corridors of Gomti nagar extension (Shaheed path) and Kanpur road, it is well positioned to deliver tremendous value for years to come. The price trends of these properties and micro-markets are encouraging prospective customers, which is driving a surge in enquiries.

Living experience in an independent floor

January 21, 2021 0 Paarth Infrabuild Real Estate residential Residential Properties

Buying a home is one of the biggest decisions a family makes together. This also has far reaching social and economic impact on family members. The locality, the neighbors, infrastructure and what kind of home one buys, go on to define the kind of life one would live.

Living experience in an independent floor

There are many choices for a buyer. One can buy an apartment in a condominium or buy a villa on an independent plot of land. For some, Skyscrapers make their inhabitants proud and inspire awe in them. But some just don’t like living in tall buildings with shared spaces. A few others want to live in an Independent villa, but can’t afford it. The high prices of land have made villas virtually out of reach of an average Indian. The independent floors give a certain middle course that is affordable and meets aspirations of a style-living oriented middle class family.

An independent-floor apartment is a residential unit with a few other flats in a low-rise independent building. The number of units on each floor is one or two and therefore don’t have to share the common space with many families. These buildings are generally mid – height, offering the much needed visual relief, ensuring these are not claustrophobic. These are also designed with ample space between different blocks to afford a healthy flow of air and ingress of sunlight. These have become important criteria for customers in post-pandemic world.

Buying an independent floor is clearly a lifestyle decision. This is so because, an apartment of the same size in a high-rise will be available at 15-20% less cost. For a lot of people who go by utility of their purchase decision, this premium over a similar sized apartment doesn’t make any sense, but for few, it is the best decision they made. Also the flexibility of space utilisation in independent floor is more as there are very limited common areas. This also allows a buyer to give the space outside one’s home a character that he wants.

However, builder floors have some drawbacks, if they are offered on a standalone basis. Such independent floors do not have facilities such as gymnasium, swimming pool, security and power back-up, that all of the modern society apartments have. But if there are independent floors on offer within a township, this is like one gets best of both worlds. An independent floor with the sense of safety and security and the amenities offered by a large well planned township is unparalleled in its value offer to the buyer.

Independent floors offer a sense of space which can’t be compared with an apartment. The privacy that this offers, also attracts buyers. The discerning customers also like the opportunity to create the greens around their home and less cacophonous surroundings. Another strong value that an independent floor in a township offers is the “step in – step out” convenience. What it means is that you could enjoy social life just by stepping out of your home and be absolutely private the moment you step back inside.

Gardenia Residency in Paarth Republic Township on Lucknow- Kanpur road, is attracting buyers with this unmatched combination and is one of the fastest moving homes in Lucknow.

Why Real Estate is a better investment than Equity

January 18, 2021 0 Paarth Infrabuild Commercial Properties Real Estate Residential Properties

The debate as to which is a better investment opportunity – Real Estate or Equity, when one is looking for high returns, is one that continues. However, there are facts which clearly establish superiority of Real Estate investment over equity investments. One of the most important reason in support of it, is the lesser volatility of prices associated with RE prices. You could not be away from the market, if you have made equity investments, while you don’t check land prices every day and do it only when you need to sell.

Why Real Estate is a better investment than Equity

One point repeatedly put forward by Equity enthusiasts is that real estate is lumpy and illiquid. But what these people miss out is that wealth generation is not a target to be achieved in a few months or a year. It is meant to help achieve life goals over 10-15 years. Also, real estate generates supplementary cash flows in the form of rental income, which is almost always better than the dividend income one can expect from equity investments.

The nature of equity investments is such that the investor could never predict the facts of how his investments would perform over a longer time frame. Look at what happened in the case of a yes bank or a Reliance power. People lost almost entire invested amounts due to wrong disclosures by directors of these corporates. On the other hand, a real estate investment has a material value that can be ascertained by anyone to a great degree of certainty. This ensures that the best analyst and the worst in case of land price will differ only by a few percentage points, while in case of equity, this difference could be in 10s of percentage.

A certain group also propels equity investments through mutual funds investment. Agreed, that mutual funds avoid the risk of volatility in only one scrip, but the volatility is still much higher than Real Estate. Also, analyzed over a long period of time, mutual funds have also not been great wealth creators. And if they don’t serve this purpose, they lose the right to be compared with real estate investment, which has helped people across India to create wealth over years.

Another factor that supports real estate investments is the ability of an individual to get funded at a highly subsidized interest rates by taking a home loan, to buy a property. Can you get a loan to buy into equity? The fact that one can fund the real estate investments through a loan results in taking benefits of higher than calculated returns. If the price increase in property has been more than the rate of interest on loan (which generally is the case), one earns returns also on that part of investment that was done through home loan money.

However, it is to be understood that the property should never be used as a short-term investment tool. And one could argue in favor of an equity investment for short term. Finally, the tax advantage offered on housing loan both on the principal and interest amounts make the returns even sweeter and therefore, property should always be a part of your investment portfolio.

Future of work and home spaces

January 13, 2021 0 Paarth Infrabuild Real Estate Real Estate Industry residential Residential Properties

We are on a long road to recovery from the initial disruption created by the pandemic. It, however, is sure that not everything will go back to how it was pre-Covid. Somethings would have, perhaps, changed their character forever.

The lockdown brought a huge change to the workplace. Work from home (WFH) became the norm rather than exception. As per estimates from industry experts more than 90% of 4.3 million IT workforce worked from home during lockdown. And it seemed to have worked well, contrary to the early skepticism. The best part is that both the employee and the employer seem to be happier with this arrangement. While increased productivity warmed the hearts of employers, employees enjoyed flexible working hours and savings in commute time.

Learning from IT industry’s early moves, other industries also started to figure out ways of getting a portion of workforce WFH without disrupting the work ethics. Employers also saw it as an opportunity to reduce infrastructure and administrative costs. Conferences and meetings went online, helping save critical and expensive commute and helping organisations take swift decisions. Also, employees could be close to families during these uncertain times, especially when kids were home due to school closure. And there has been a vast acceptance of these methods. Even the courts in the country, started using video conferencing as a viable medium to do hearing.

WFH also helped companies to tap into a pool of talent, which was not available earlier. There were instances when employees were not willing to move places, resulting in shortage of talent of a particular type. But with WFH becoming a norm, this has no more remained a challenge. Also, people who left their homes, leaving ageing parents behind, for a better life, could now shift back and be next to their parents without affecting the work. This means very special for women, who had to sacrifice their careers for commitments at home, suddenly finding new opportunities.

Another defining aspect of the pandemic induced work innovations has been a realization by employers in industries other than IT, that remote work for a large proportion of people in every industry is possible. As organizations tried it under compulsion and found it working, it is expected to become a regular feature going forward. This should result in continuation of these measures as it works well for both the employees and employers. There was an announcement by Deutsche bank with a plan to have almost 40% of its workforce working from home permanently.

However, there has been a flip side to WFH also. It is yet to be ascertained as to the impact it will have on employee morale and loyalty over a longer period of time. The lack of physical contact will affect the ability to group work, ideate and solve complex challenges. This feeling of isolation could also affect the mental well-being and may play havoc with self-confidence of sensitive employees. As non-verbal part of the communication is not possible, the exchange in certain situation could turn unhealthy. We can already hear employees complaining about unstructured and long hours of work affecting their life in multiple ways.

The problem, in fact, extends beyond the mental well-being. The bedrooms and living rooms are being converted to make-shift offices, which is an interference of work life into personal space. Most of the houses in India are cramped and don’t have appropriate office furniture, which may lead to health issues. As personal life is intruded into, a lot of employees and their families may find this experience awful. The ambient noise, at times, create embarrassing situations for individuals and trying to hide from it could result in employees not being at their normal self. Also, a large set of people have an extremely casual approach to work, when in a relaxed setting, which may be off-putting for colleagues in the work group.

What then is the future of WFH in India? Basis the cost reduction it offers to employers, there will be an increased traction to continue and enhance Work from home. A large proportion of employees on other hand are already feeling weariness of this change and may like to resume the normal office functioning at the earliest possible opportunity. Multitude of work in offices, including the IT corporations, require more than one teams and employees to work together on a problem. Their synchronization has been critical for organizational success. Keeping this and other factors in mind, most of the organizations may be forced to resume operations like pre-covid times, once the scare is over. However, a good solution can be blended office – working from home on specific days and working at office on other days. This could be a winning solution if proper planning with thorough understanding of each role.

This new way of thinking will also result in paradigm shift in other industries. Real Estate industry is the one that is expected to feel this change the most. The market for office sales and rentals may face upheaval in short term. On the other hand, residential developments in emerging and new locations may see an uptick in demand. Challenges of working and managing office work from cramped spaces will force people out of their homes in busy localities to look for new and larger homes increasing the transactions. The noisy buildings located next to a street as standalone building, will lose charm and large complexes away from main road offering less noisy surroundings will gain prominence. It will not be a surprise to see larger homes or apartments with an extra room getting into favor, when compared with smaller homes. The locations with good IT infrastructure will also find more buyers. Also, with travel and other expenses down, the ability of an employee to pay the EMI amount would increase substantially, giving him the confidence to invest in a bigger apartment.

As the impact of WFH becomes clearer, we will know the way it impacts various industries. One thing, however, is sure, that the housing real estate industry is sure to see its best days. The focus will also shift from purely affordable housing to apartment complexes located away from hustle bustle of busy market areas. The large township projects will be in vogue and certainly score over small city centric developments.

Perks of Township Living

January 11, 2021 0 Paarth Infrabuild Lucknow residential Residential Properties

A township is like a mini town inside a large town and provides plentiful amenities to give its residents a style and a living, that is so different from living in a chaotic city of today. A thoughtful mixture of business and retail areas, housing and open green areas is, what ticks well with those selecting to live in here. Townships have gained remarkably in style across the country thanks to numerous advantages it offers. Let’s have a glance:

1. Unmatched Security

Equipped with advanced automation and management systems to make sure safety, townships are being talked-about as the most secure residential zones. The availability of CCTV and 24/7 observation with guarded posts make these residential properties absolutely safe for inhabitants.

Security could be a key concern for families, particularly working couples. The 3-tier security which ensures a secure perimeter as well as an eye in every corner of township with the help of technology, is very reassuring for families with kids and elders.

2. Best in class amenities

Apart from providing snug living areas, townships provide a varied best-in-class amenities and comforts. Be it a shopping area, a mini-theatre, party area or a sports space, townships provide various comforts within one common campus.

Most townships given their sheer size are delicately positioned off from town that directly implies – no traffic, no pollution and no urban chaos, shaping it as a dream-come-true for its residents. Townships facilitate and encourage ‘Living together happily’. The shared amenities not only ensure the best experience but also allow residents to come together to enjoy these and thereby forming common interest groups, which could also help in better upbringing of kids.

Various clubs that encourage sports and fitness activities like court games, football, basketball, cricket, running, cycling, etc. Hobbies and crafts like artistic production, painting, and sketching, etc. can be pursued inside the townships without worrying for eternal interventions and provide a plethora of choices to the residents to bond with one another. Celebration of festivals, spiritual ceremonies, etc. take a distinct colour altogether, thanks to the unique ambience a township provides.

The critical facilities within the townships like health clinic and school ensure that a safe bubble is created for its residents to enjoy life without a worry.

Open areas, parks, curated gardens, paved roads and other such infrastructure which is well designed and modern, offers peaceful daily life. Walk-to-Work opportunities help improve work and life balance.

3. A city you co-create

Townships offer a great opportunity to its residents to take an active part in its management. It ensures that you could create a community which is more homogeneous and therefore, offers benefits beyond physical comforts. It is a socio-economic zone that brings unparalleled freedom to create new relationships and allows you to follow your passion. A township offers residential dwellings for people from different socio-economic backgrounds. However, the simple fact that all of them have chosen it away from the chaos of the city brings that binding thread – the hope of building a better future.

Townships have, therefore, been center of excellence in learning and sport activities and outsiders have always watched it with a desire. By bringing in a large aspirational population together, it replicates a large city without the hassles of living with archaic infrastructure, that is troublesome.

4. Eco-friendly Living

Townships are generally planned with eco-friendly and pro-people options like ground-water harvesting, proper sewage disposal, large greens etc. These ensure that one lives with lesser guilt of consuming the natural resources and in fact, in some cases giving more than what one is using. Some of the new townships also have solar power panels for common area lighting etc and wi-fi enabled smart infrastructure. Such infrastructure is future ready and offers long term health and economic benefits.

There is absolutely no doubt that each one of us want our children to grow up as responsible global citizens. Townships can be looked at as the crucible for their experimentation. How? Simply because it offers a possibility to work on one’s ideas at any age with fellow residents, with whom one doesn’t have a direct relation but a common wire of residentship. It is like a college alumni network, with a much wider landscape and variety.

The children growing up in such green and happy surroundings grow up as better citizens with love for ecology. That is the first step for them to learn these lessons early in life in these settings.

5. A high life

Townships make it possible for mid-income families to live in peace with beautiful surroundings, once they could only dream earlier. This is one major difference which townships offer, compared to stand-alone residential projects. The life inside a township is not very different from the one offered in developed societies and which has remained like a dream for a common Indian. With large group of similarly aligned people, it is possible to live that dream for most of the people.

Another important aspect of life in a township is the opportunity to rub shoulders with the best in society in familiar surroundings. Townships offer residential facilities to people from different strata of society and have some of the common features. Some of the townships also offer some very special facilities. For example, Paarth Republic by Paarth Infrabuild in Lucknow offers an international cricket stadium. Now such a facility is not possible to have for a commoner in Lucknow, but just because one is a resident of the township, it comes without any extra cost.

Also, a large population with affinity to good lifestyle in one place offers a great market place to brands and they provide the best products and offers to such communities. It is not very difficult to see special privileges being offered to residents of such townships due to an attractive and homogeneous market available to brands.

The advent of townships emerged from attraction of suburban living, which embellished with amenities and security offers comfort and lifestyle, which till a few years back, was a dream for most Indians. No wonder then that these are the hottest selling dwelling units in most of the cities.

Paarth republic with an excellent location bang on Lucknow-kanpur highway and lose to airport, is rightly considered by many as an “Island of opportunity”.

A vacation without leaving your home

January 7, 2021 0 Paarth Infrabuild residential Residential Properties

The unpredictability of the pandemic and the negativity of news around, coupled with the strain of adjusting to new realities of work, child-care and their school, have almost everyone I know craving for a vacation. Yet with multiple travel restrictions and quarantine process in place, a carefree getaway doesn’t look like a great possibility.

However, vacations are proven to be an important part of well-being. Various studies show that people who took annual vacations are physically fitter and have a better sleep quality. But in the given situation when stepping out of one’s house is looked to be brought with risk, how does take a vacation. For those, who don’t feel safe to venture out in the current circumstances or with a newborn or an elderly at home, a staycation can provide some of the same benefits- A chance to rest, a break from usual routines, opportunities for freedom and play.

In fact, sometimes a staycation can be a better option than a vacation during holiday season. Haven’t all of us faced frayed nerves, when we travel through the crowded airports or railway stations? Remember the scenes of all tourist places, which we see as pictures in newspaper around New Year holidays. Long traffic jams and people all around don’t let you rest and often make the whole experience more tiring. The only thing that is difficult to bring in a staycation is the adventure that you may get in a travel.

Here are some ideas to have adventure without leaving your home:

If you stay in a well-developed housing complex by a reputed developer, you can find enough places to go out on a picnic within its perimeter. You can involve a couple of families more and organize a small singing party around fire and order food from outside. This could be more fun than your vacation at any hotel in a tourist place.
If you like reading books and watching movies, get your best picks and enjoy with these. With some of the largest hotels, like Taj in the town offering a home dinner, you can just relax and get a sumptuous dinner served to you by the best in business. This could be a wonderful surprise to your spouse and kids, and will cost you a fraction of cost that you might have incurred on travel otherwise.
Camping out is another idea that excites young and old alike. If you are living in a township, you can find enough nice places to camp out an evening. You can have a bonfire and the whole family can cook together. The whole experience will be a learning experience for kids and stress relieving for elders.
Home swap is another wonderful idea during staycation. You could do this house swap with a relative or a friend for a few days. If you are part of different housing complexes, you will enjoy a different life around you. The flora and fauna and the whole routine change itself will have a very calming effect.

These adventurous ideas will make your life take a break from routine and will have similar benefits as when you go out on a vacation. With wonderful facilities and large green areas, Paarth Republic Township in Lucknow offers you an opportunity to take a vacation without stepping out of the boundaries, which keep you safe in these uncertain situation.

5 reasons why one should buy property in Lucknow

January 4, 2021 0 Paarth Infrabuild Lucknow Real Estate Real Estate Industry residential Residential Properties

City of Lucknow, inhabited on the two sides of river Gomti, is a beautiful city that transitions from old to new in a matter of a few kilometers. The core of this city is its historical monuments, which are juxtaposed with glass and steel facade of state-of-the-art constructions. The old bazars are still attracting crowds for their variety, while fashionable malls are equally liked by new age city dwellers. The tranquil locales, modern infrastructure and a relaxed lifestyle has been attracting people from all over to make this city as their home for years and with time, its charm has only increased.

5 reasons why one should buy property in Lucknow

Today, Lucknow has emerged as one of the country’s most important cities. Lucknow is now emerging in various sectors such as retailing, manufacturing and IT after securing its position in the smart cities of India, thanks to a proactive government. As a natural corollary, the city is attracting many developers and homebuyers with the growth of new infrastructure. Here is a list of top 5 reasons, why one should look at investing in a good property in Lucknow.

Lucknow Metro – Every city in India has faced chaotic traffic as it grew. Lucknow, however, escaped this due to visionary planning of infrastructure agencies. The metro rail work was started ahead of time and resulted in being ready when the city would have faced challenges of traffic. It makes moving around in the city very comfortable.
Connectivity with the world – Lucknow boasts of a modern international airport and a railway station connected to almost every city in India through an efficient network. Unlike most other cities, both these places have excellent connectivity with rest of the city. The Shaheed path connecting to airport from the developed areas of the city is a testimony to the foresight of city planners.
Recreational facilities – Lucknow has many places to spend a day either in complete relaxation or by engaging in an activity one likes. Two cricket stadiums in the city, with the latest one, Atal Behari Vajpayee stadium even hosting international cricket matches, have brought the most played game in India to its residents in a spectacular fashion. The museums, cinema halls and a host of other such facilities ensure that one never feels lack of recreation options in this city.
Medical and educational infrastructure – This city rubs shoulders with the top metros of India, when it comes to educational and medical infrastructure. With top schools and colleges, an IIM, a AIIMS equivalent hospital with multiple top notch private hospitals, Lucknow offers a peace of mind like no other similar city in India. The city provides the best environment for a child to engage in various activities, while studying for a multi-faceted development.
Modern retail – Lucknowites have adopted to modern retail like fish to water. Latest malls like Phoenix and Fun republic have attracted and introduced people to the best national and international brands. The ubiquitous fashionable city dweller, mixing with the people in traditional attire make this city as lovely as one could get.

There are a few locations which have harnessed these advantages to the maximum. A couple of residential complexes, Arka and Aadyant by Paarth Infrabuild in Gomti Nagar Extension, located right next to Phoenix mall and Atal Behari Vajpayee stadium, bang on Shaheed path are the kind of location, one can only imagine for that coveted home.

Lucknow housing market – Opportunity for investors and end-users

October 1, 2020 0 Paarth Infrabuild Real Estate Real Estate Industry residential

Lucknow is capital city of Uttar Pradesh, the most populous state of India. Lucknow is always known as the cultural hub of north India and is also fast emerging as the biggest commercial hub of North India outside of Delhi NCR region. The infrastructural facilities in the city rival the best in the country in all aspects. It is the safest town in Uttar Pradesh with state-of-the-art policing protecting its residents. The medical facilities available in the City both in public as well as in private sector promise to protect people of the city from any eventuality. Lucknow city weaves a magic encapsulating traditional ambience with Rapid and ambitious futuristic growth. This unique blend of culture with social infrastructure defines the charm of the city and entices large swathes of population to make it their home every year.

Lucknow housing market – Opportunity for investors and end-users

While Lucknow has always been known for its culture, it has witnessed some of the best developments in last one decade. The ubiquitous metro rail covering the serpentine lanes below has a place of pride and convenience. The expanded airport connecting its citizenry to destinations across the world has opened the gateway to commercial centers of the world, while the newly constructed expressway connects this airpot to the pockets of commercial excellence within the city. The modern highway to Agra, connecting further to Delhi gives wings to the ambitions of ever-so-eager entrepreneurs from the city. The health infrastructure here stands shoulder to shoulder with any city in the world, what with Sanjay gandhi post graduate institute leading the medical facilities in this part of the world. The private investment has reposed its faith in these initiatives and contributed to creation of job opportunities in different sphere. The swanky complexes of IT companies stand a testimony to these efforts. While Lucknow has never been a manufacturing hub with that title belonging to its twin city Kanpur, the new age industries are finding an elevation to their pitch here.
Lucknow of yore was dotted with flea markets, but the new buzzing Lucknow challenges the hegemony of traditional retail centers with the giant shopping complexes that balance the nawabi charm and the poetic humdrum with the hustle and bustle of modern busy life, ever so delicately. The Atal bihari Vajpayee international cricket stadium has added to the charm and utility, occasionally acting as a magnet to the city. Quality education is another pillar that has supported the residents of this boom-town in achieving their dreams. From foundation schools to a world class university bringing out the best in its students, the city embraces students from all nationalities and faith and gives them the values that highlight their achievements years later.

The thriving economy and an ambitious middle class population has resulted in this city growing. No wonder then, that it has reported to have one of the highest growth in disposable income in the country in a decade. Exposure to modern life style and a high disposable income has upped the propensity to invest for a better way of life. Residents of adjoining towns and cities and also from rest of Uttar Pradesh always invested in Lucknow city. The state being an agrarian rich region, has seen the incomes going up in small towns and cities, resulting in citizens looking for better life-style and therefore heading to Lucknow. A home in Lucknow is a matter of pride for anybody living in any part of of eastern Uttar Pradesh. It has become more so in recent times as both the business as per the job opportunities give fast in this city. Earlier Kanpur used to be the business hub with Lucknow the Cultural Centre, but now Lucknow holds both these titles.

Lucknow has also seen significant political stability for almost A decade now. It has helped the infrastructure projects to complete in time and the town to grow in a planned manner. Private developers of national and international repute have also launched various residential and commercial projects in the city with world class amenities and architecture. This has also enticed old residents of the city living in crowded and less developed localities to buy a home and live in modern housing societies. Therefore, while most of the urban centers in India have struggled to maintain the speed of sales of houses and the prices, Lucknow real estate market has seen a consistent growth, both in terms of price appreciation and number of units sold. Localities like Gomti Nagar and Kanpur Road have seen significant traction from buyers. A lot of these projects which were launched a few years back have been completed and residents have shifted in. This has further boosted the confidence of end-users to invest in new properties. This, in turn, has offered incremental returns on investments for investors and therefore they keep flocking to various projects.

Other factors which have influenced this trend are – availability of land within a reasonable distance from City Centre, relatively low cost of construction and availability of comparatively cheap labour. This has enabled the developers to offer excellent propositions to buyers within their budget. Buying a property in Delhi NCR have continued to be unaffordable for a middle class buyer and the same customer finds excellent choices at affordable price points of between 40 and 70 lacs here. Lucknow city has seen multiple large investments in the real estate housing sector and it is expected to continue to see the same going forward as people across the cities restart their life after the pause due to covid-19.

Lucknow housing market is expected to see hectic activity, as people are looking to stay near the places where educational and medical facilities offered meet the word standard. The availability of ever increasing employment opportunities makes Lucknow even more attractive. The administrative reforms initiated by the present government in last two years have started yielding results making the Civic infrastructure in Lucknow reach newly developing localities. Lucknow reality market is slowly turning into the proverbial gold pot for the investors and the best place to live in for the end user.

Urbanisation – Opportunity for smart growth

September 30, 2020 0 Paarth Infrabuild Real Estate Real Estate Industry residential

Countries like India are witnessing a very fast migration of population from rural areas to urban areas. It is also showing in the reducing weightage of agriculture in the GDP. This has been a phenomena observed worldwide – today’s developed world had seen it in the middle of last century coinciding with the industrial revolution. There are lessons to be learnt from those examples and plan for it in advance. Communities across country will be compelled to adopt technologies and processes keeping this reality in perspective.

Urbanisation – Opportunity for smart growth

With more and more of population living in cities, urbanization is bringing in significant changes to social and economic structure of these. It’s also exerting significant pressure on infrastructure and resources and potentially opening the door to urban catastrophe if prior planning is not done. At the same moment, it gives local governments an opportunity to plan and correct the infrastructural and social disparities of past.
If cities don’t work for entrepreneurs, employers, and citizens in the same breath, then the related flows of trade, technology, infrastructure and employment will be squeezed. Creating a master plan of fast growing cities, taking into account also the rural areas that it is likely to swallow, is just the first step. If administrations can harness data-driven intelligence to identify appropriate opportunities and priorities and create a smart plan it will ensure an equitable and futuristic development. Another opportunity which this phenomena offers is to get the data of all the various departments to talk to each other through smart algorithms and use it to create a seamless urban perspective. It will help in deploying predictive services ensuring right services to the right population group, at the right time.

Latching on to this idea, a number of cities, ably pushed by central government, have started working to create smart cities, though with varying understanding. Some look at it as use of technology to optimize the urban infrastructure and traffic flow. Others look at it as a push towards initiating smart governance, where policy making is more driven by data and logic and oriented towards its citizens. Some technologically advanced administrators are planning to use Internet of Things (IoT) platforms to monitor city infrastructures, which means managing everything from traffic flows and parking to water and air quality through centrally controlled and data driven approach. Data generated thus, can be used to further enhance environmental sustainability and creation of renewable energy resources.

Most urban centers in India are struggling with a creaking infrastructure and legacy planning issues. Therefore, this opportunity to reorient and plan for fast urbanisation opens new roads to set it right. A data based smart planning will help orient cities around a couple of central themes and can deliver a citizen-centric development. The planning for employment opportunities, future patterns of flow of people and more equitable social development will set these cities on a growth path. If we miss this opportunity now, our cities will end up being chaotic masses which will be a social and economic disaster. The choice between a smart growth and an urban mess is to be made now.

What should developers do in a challenging market

September 28, 2020 0 Paarth Infrabuild Real Estate Real Estate Industry

The real estate market heading into the current crisis has sometimes been described as the real test of character of developers. The deepening economic impact of the coronavirus pandemic is felt worldwide. It is not only the immediate economic challenges which are worrying developers, but also the imminent social and behaviour changes in buyers. It will push us to learn to cope with and embrace a new professional paradigm.

What should developers do in a challenging market

Despite the chaos that’s taking hold in the broader market, real estate developers can apply brave but smart strategies to keep their projects going and assets producing. There have been instances of existing businesses cutting down on their manpower or reducing salaries across the board, which will leave lesser money in the hands of consumers, resulting in problems with existing customers who may be on an instalment plan. Also the prospective buyers will be squeezed for funds and there is real danger of reducing per unit price. Some of the investors who had been holding on to their investments in the hope of better returns, may come out to sell in desperation, forcing the prices further down.

What then, a real estate developer can do to survive and come out stronger on the other side of this crisis. There are opportunities which will need to be tapped with a suitable plan. In the space of customer inquiries, it will be prudent to increase spends on creating brand in digital world. With people spending more time indoors and working long hours on their computers, it is quite intelligent to create a connect with customers online. Also, customers try to interact with brands in various ways as online search and research is very intuitive. The developers who could create a simulacrum of the customer buying cycle and fill all the gaps that might exist in digital brand positioning, will walk away with bulk of online enquiries. It would be worth presenting to customers the options understanding the current state of customers.

Another opportunity that presents itself to the developers is in terms of canvassing for upgradation. There is a sizeable chunk of people, who have paid off the housing loans they had taken for their first homes. It is time to give them compelling reason to upgrade or buy another property. Historically low interest rates and availability of good options at considerably stable prices will drive in bargain hunting investors with surplus funds. Can a developer reorient its product proposition to suit their requirements.

The onset of long term social and behavioural changes should also be considered in redrawing the product design as much as possible. In days ahead, functionality of design will win over luxury. It will be smart to reorient designs keeping the new social habits people will form. A great outdoors within the precincts of project may become more attractive than a high end club house. Large open though covered spaces for small group conversations would be inviting for more people than a large banquet hall. Provision of health care facilities and good house keeping services will trump a restaurant or a coffee shop. A developer sensitising and orienting the design and construction team to these realities will be a winner compared to the ones who don’t do this.

Every challenge hides an opportunity in its lap. It needs effort to recognise the same and work to capitalise to come out on top once the challenging situation is over. Time will tell us how manages the crisis period proactively and wins and who gets crushed under the weight of inaction.

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