Real Estate

7 Facts you didn’t know about Lucknow

  • Lucknow is the second happiest city in India

According to the survey conducted by ‘IMRB International’ and LG Corporation, Lucknow is the second happiest city of India just after Chandigarh.

  • Hazratganj has no electrical wires

Hazrajganj one of the areas which is situated at the heart of Lucknow is unique in its own way. The electrical wires are all underground which adds beautification to this area. Really interesting fact about Lucknow.

  • Lucknow’s clock tower is the tallest in India

The clock tower of Lucknow which is known as Husainabad Clock Tower is the tallest clock tower in India. It was built in 1881. This clock was built as a replica of BIGBEN clock tower of London.

  • Lucknow Railway Station

Lucknow Railway Station is the place where Mahatma Gandhi met Pandit Jawaharlal Nehru for the very first time in December 1916.

  • Lucknow has the longest Race-course

The race course in the city is the longest one in India. The length of the track is 3.5 km. It was established in 1880.

  • Bara Imambara is the largest hall in Asia:

The construction of Bara Imambara hall was started with a sole purpose of providing employment to the people. It took six complete years to complete this hall. The construction of this hall was completed in the year 1791. It is also the largest hall in Asia without any external support from wood, iron or stone beams.

  • Reservoir of Crocodile and Alligator

Kukrail Garden located in the city is said to be the largest crocodile and alligator reservoir in the Asian continent.

Apart from these there are many beautiful apartments and township as Paarth Republic, Paarth Arka, Paarth Aadyant and Aryavarta Empire where you can buy flats in Lucknow and live there. I hope you like these facts about Lucknow.

All you need to know about living in Lucknow

All you need to know about living in Lucknow

Muskuraiyein, ki aap Lucknow mein hai

That’s how you are welcomed in the capital and the largest city of Uttar Pradesh, situated on the banks of river Gomti and about 45 miles (72 km) northeast of Kanpur. Lucknow is not just a city, with a rich heritage to its name, the city of kebabs and nawabs resonates the treasure of architecture and history, of literature and culture – in a nutshell.

The city of Nawabs as the slogan of the city says the region has a slice of rich colonial history to modernized museums, this artistic hub of Awadh, beautifully brings together the opulence of a glittering past and the simplicity of a modern city. And if you thought this is all, we have something special for you, According to the survey conducted by ‘IMRB International’ Lucknow is the second happiest city in India. As of November 15, 2017, which is merely 70 days into its operations, the Lucknow Metro has crossed the 10 lakh mark in terms of ridership.

City the Beautiful –

Old Lucknow –

Rumi Darwaza, the Mughal Gateway built in the centre of the capital divides Lucknow into ‘Old Lucknow’ which is ancient, crowded, a bit narrow, and a big food hub, wholesale jewelry lakhnavi chikan market. On the other hand and the ‘New Lucknow’ is urban and one of the most planned cities of Asia. 

New Lucknow –

With sprawling shopping malls, parks, Hi-rise buildings, international cricket stadiums, wider roads, planned architecture make the city a true cosmopolitan with people of varied cultures and areas from across the country. The most famous among these are the parks like Ambedkar Park and the Gomti Riverfront Park, both ideal places truly give the sense of calmness within the chaos. The families, tourists, and locals can daily be seen taking a walk or admiring the built of the structures during the evenings or even late nights.

For the shopping frenzy, you have Hazratganj, which is the mouth-watering space for shopping, food, and some unique experiences like – you don’t see electric cables hanging around that enhances the beauty of the area like never before and more so if you have an eye for detail, you see most of the shop’s names, and signage marked in black and white only. Right from the international wizards like Nike, Pepsi, Gucci to the local shops, all of them are marked in black and white signage throughout the market. For foodies, the same place offers its world-famous ‘gol gappe’, ‘chaat’ and ‘kulfi’ eateries, posh Mughlai restaurants, and various shopping complexes. All the buildings in Hazratganj have a distinct Victorian architecture, and you can shop for literally anything – starting from inexpensive accessories and trinkets to high-end clothes, shoes, and jewelry. 

The people of Lucknow are known for their courtly manners and endearing ‘Pehle aap‘ (you first) culture, which always leaves behind a smile on the faces of its visitors. 

  • Education

Lucknow is the home to a number of the various prestigious institute that includes

  1. Indian Institute of Management Lucknow (IIM-L),
  2. Indian Institute of Technology Lucknow (IIT-L),
  3. Institute of Hotel Management Lucknow (IHM-L),
  4. Indian Institute of Toxicology Research,
  5. National Botanical Research Institute (NBRI),

The University of Lucknow and many more. You hardly find so many important institutions in a single place and that is the beauty of the city. Let it be higher studies or the school level, Lucknow offers the best of the best and hence if you are living in the city you don’t migrate to other places and save a lot of cost and family time.

  • Sports

Lucknow is the Headquarter for the Badminton Association of India. Junior level Badminton players receive their training in Lucknow after which they are sent to Bangalore. Also, The Lucknow Race Course in Lucknow Cantonment is spread over 70.22 acres (28.42 ha); the course’s 3.2 km(2.0 mi) long race track is the longest in India a.

Not only this, but Lucknow also hosts the International standard Cricket stadium, Various cricket academies, Tennis academies, Major Dhyanchand Hockey Stadium to name a few.

  • Climate

Being a landlocked city and quite away both from the Sea and the Mountains, Lucknow runs in extreme weather conditions. All the variants of the weather can easily be witnessed in Lucknow throughout the year.

Winters in Lucknow – From November to March is the winter season and is the best season to visit the city. With the minimum temperature going as low as 2 degrees one can enjoy the fog and dim sunlight during the days. Summers in Lucknow – April, Ma,y and June dry, hot and windy with the mercury soaring to as much as 45 degrees, the city reels under extremely humid conditions during the Monsoon rains during Jul August, and September.

If you planning to buy an apartment or flats in Lucknow? Rush to the projects by Paarth Infrabuild, which are constructed keeping in mind the different requirements of the buyers. Paarth Infrabuild offers luxurious and comfortable household spaces which will match exactly with your dream house. There are four major projects by Paarth Infrabuild i.e. Paarth Republic, Paarth Aadyant, Paarth Arka and Paarth NU. Each project is different and has its own unique features and all the projects are eco-friendly.

How a middle income person can buy a house in india

How a middle income person can buy a house

“Kyunki Apna Ghar toh Apna hota hai”

Have you ever thought that if money was never an object you could have bought your dream house? That might be a cozy villa having a private garden as well as swimming pool or a private condo having sea view like it is shown in James Bond movies. Thinking? You might go out of your budget.

Everyone has an idea of their dream homes but as money as an object comes into the picture your aspirations are toned down. Most of the home-buyers when decide to convert their dream home into reality by stretching their finances they might end up denting their finances. But not anymore, affordable housing scheme helped many people to fulfill their dreams to buy their own house. The slowdown in real estate sector also lightens the burden of the buyer. A few years back rates of the property were hitting the roof but today home-buyer can a find a place to dwell for spending their life with their family.

Image Credit- Forbes

The vision of Modi government that every citizen of India has their own house by the end of the year 2022. To back this vision the government is pursuing and encouraging the builders to come up with projects that fall under affordable housing schemes. Under this scheme, the target is to make house between 10lakh to 30lakh so that lower and middle class group can afford it. Even the home loans are available at a very economical rate. This will lead to increase the quality of living standard of people.

Projects under the affordable housing schemes are launched in states Punjab, Uttar Pradesh, Rajasthan etc. and the state government is providing all the possible assistance to the builders. As per Times of India, their government has made two classifications for Middle Income Group (MIG).

  1. MIG-I having an income of 6-12 lakh will get loan up to 9 lakh with interest subsidy of 4% for a tenure of 20 years. Therefore at the end of tenure, the borrower will end up paying an interest subsidy of 2.35 lakh for 9 lakh.
  2. MIG-II having an income of 12-18 lakh will get loan up to 12 lakh with interest subsidy of 3% for a tenure of 20 years. Therefore at the end of tenure, the borrower will end up paying an interest subsidy of 2.30 lakh for 12 lakh.

The Housing and Urban Development Corporation (HUDCO) and National Housing Bank (NHB) have been acknowledged as central nodal agencies to channelize this subsidy to the lending institutions, including banks and financial institutions. Therefore, small banks, non-banking finance companies and micro-finance institutions will be recognized as primary lending institutions under the scheme.

Additional loans are also available at a non-subsidies rate. Under the scheme, widows, single working women, persons belonging to SC/ST, OBC, differently abled and trans-genders will be given preference.

If you looking to buy flats in Lucknow, there are best real estate developer named “Paarth Infrabuild” provide affordable residential flats for middle class people.

Lucknow, a Real Estate Hub

Lucknow, a Real Estate Hub

As soon as we think about the Capital city of Uttar Pradesh, Lucknow emerges as the city of Nawabs, its lazy yet elegant persona, the Imambadas, Rumi Darwaza, the ever inviting Bhool bhulaiya, or the mouth-watering food. But that’s not all, Lucknow is very quickly becoming the hub of Real estate hub for the region. Let it be the government policies or the urban real estate development in the vicinity, Lucknow is the finest example of urbanization of India. In Lucknow there is a best real estate company named “Paarth Infrabuild” offers luxury flats in Lucknow at affordable price. There are many reason due to which we can say Lucknow is a Real Estate Hub.

Lucknow, a Real Estate Hub

Location Matters –

Lucknow is very centrally located within the boundaries of Uttar Pradesh and enjoys excellent connectivity with all the major cities when it comes to the Uttar Pradesh region. Right from neighboring Kanpur, Agra, Jhansi, Varanasi, Prayagraj to the National Capital New Delhi, Noida, Ghaziabad, and the city is very well connected by all the possible modes of travel like Air, Rail, and Bus. Outer ring road completion will connect the city with 104 villages, as many as 6 state highways, and 5 National highways.

The Real Estate Growth –

Also within the city, Lucknow Metro has opened the flood gates of the Real estate sector to boom. Locations like Shaheed Path, Gomti Nagar, Sarojini Nagar are not the OUTER part of the cities anymore, you can very easily see skyscrapers mushrooming all around. With the Malls, Newly constructed Hi-rise Apartments, Schools, and Multi-Specialty hospitals in the close vicinity, Lucknow is emerged to be the next cosmopolitan city of North India

Why the Hub

Being an old city with narrow roads, cluttered colonies, busy Market streets, the new age Real estate developers have understood the requirement of living in open and bigger spaces with all the modern amenities like a Swimming pool, Kids Play Area, Clubhouses, Badminton Courts, Yoga, and meditation Area, and jellying perfectly with government’s KHELO India campaign mostly all of the real estate developers are providing Cricket stadiums with academies, Football or Basket Ball courts, and state of the art indoor games facilities and no wonder Lucknow is already providing some world-class athletes. On the commercial front, the new age office spaces and co-working spaces are also cropping up in the downtown areas of the city and the best part is they are well connected with the so-called old and the new city.

Latest Trends

The trends especially those in the Real estate industry indicate that the individual let it be a high-end investor or the mid-range buyer is looking beyond metropolises that offer a lifestyle. Where they can not only live a carefree life but also have all the facilities that are required to be in the nearby areas. The high rise is not only a trademark of a Metropolitan city this has created an untamed opportunity for the real estate developers to take advantage of the untapped consumer demand that is increasing day by day.

Growth and Opportunities in the Real Estate of Lucknow

The real estate industry in Lucknow has emerged in all sectors especially in the residential and commercial sectors. With the growing GDP of the countrymen and the Lucknawis, the cost of real estate lands as well as the high-rise apartments with the Commercial spaces are yielding clear results. The rapid growth of the IT sector specifically has attracted a lot of crowds from the various parts of Uttar Pradesh. According to the Master plan of 2021 197 perimeter villages are included in the proposal.

A Contributor

“Lucknow is playing a pivotal role in making the state of Uttar Pradesh march towards its goal of becoming a $1-trillion economy. The city of Lucknow alone contributes to more than 3.85% of the state’s GDP and is already the hotbed for real estate players from all around the country. The MAKE IN INDIA initiative of the government also paved its way to attract the major manufacturing players to set up their units and the existing ease of doing business makes the area even more sort after places.

Facilities in Lucknow 

No wonder Lucknow is present in the list of top Smart Cities in India, and no guesses for the answers to the factors that make it one of the top gainers in the list.

Transport – The presence of Metro has just added one more feather in the decorated transport facilities of the city and connectivity of Bus, Rail and Air already gives Lucknow an edge over the rest

Water supply – one of the most essential aspects to make a city-run, the water supply in the city has seen a lot of improvement, thanks to the government policies and the NGOs that are working towards the betterment of Lucknow.

Educational institutions – One can count big when it comes to the education in Lucknow, IIM Lucknow, IHM Lucknow, Citi Montessori school Babasaheb Bhimrao Ambedkar University, Amity University, Sanjay Gandhi Post Graduate Institute of Medical Sciences (SGPGIMS), Central Drug Research Institute, Central Institute of Medicinal and Aromatic Plants, Medanta, Sahara Hospital, Central Institute of Plastics Engineering and Technology are merely some names that itself shows the class.

Top Residential Areas in Lucknow

Past Decade has seen a lot many cities where the real estate sector is growing have witnessed extraordinary expansion in the infrastructural and overall facilities. Lucknow at the same time is experiencing, expanding, and upgrading its infrastructure to accommodate the people not only from the city but from the nearby villages and cities. Lucknow offers something for everyone, right from the local jhuggis to the expansive Villas, farmhouses, and the High-rise apartments Lucknow witnesses an array of residential and commercial developments. To name a few we have some areas that will automatically take us to the scrumptious cuisines or the Real estate developments. However, if you are not from Lucknow just have a look at the world-famous places like Hazratganj, Gomti Nagar, Aliganj, Janki Puram, Bhootnath, Alambagh, Shaheed Path, Mahanagar, Indiranagar, Patrakar Puram, Vibhuti Khand, Faizabad Road, Kanpur road to name a few.

 

Paarth Aadyant

Everything you need to Know About Paarth Aadyant

I had been looking out for a flat in Lucknow for a few days. I did see a number of condominiums in Gomti nagar extension, Gomti nagar, Raebareilly road and other good areas. But nothing really appealed to me. And then, my broker took me to Paarth Aadyant, located in Gomti nagar extension area, and afterwards I didn’t need to visit any other place. Let me tell you everything that you need to know about this project.

The project is located at a kissing distance from the most modern mall in Lucknow, Phoenix Palassio. That renders this whole area a feeling of happiness and celebration. The best part is that despite being so close, the unruly traffic around the mall doesn’t affect the entrance to Paarth Aadyant. If that is not enough for a great location, the other attraction nearby will make you drool. Yes, the only international cricket stadium of Lucknow, Atal Behari Vajpayee cricket stadium is close by. In fact, so close, that you could enjoy a day and night match at this stadium from your flat’s balcony.

However, what I was really keen to have in the vicinity, was good medical facilities. I guess in the current state of our minds, all of us consider this as an important criteria. Medanta hospital, equipped with the best health care facilities available in Lucknow is at a stone’s throw. But what really clinched the deal in the favour of Paarth Aadyant is the fact that this area is so calm and quiet despite so much life just outside. The entry and exit to Shaheed path is easy, which makes its connection with any part of the city, including the airport and the railway station, a quick and comfortable journey. Yes, if you have experienced the rough roads in Lucknow elsewhere, you can’t agree more with me.

I was also told that the best schools of the town, City Montessori school and Delhi Public School are located in close vicinity. And I could also see the building of head office of Dial 112 and UP Police headquarters. Therefore, I will not have to worry about studies of my kids and also the area is highly safe and secure. Presence of WalMart store and other proposed infrastructure projects will continue to add interesting features to the area.

Now is the time to take you to the inside of this project. Trust me, if the locality made you drool like I did, the inside of the project will make you go green with happiness. Yes, Green is the colour which you see all around you in the form of landscaped gardens in the project. With a high green area to construction ratio, the seven towers in the project look like sprouting out from ground, surrounded by foliage. The entry was grand with three tier security and a safe perimeter offered a sense of security, I could trust.

children's play area

As we entered the complex, the scenes of happy kids running around and playing in the kids area was enchanting and watching old people sitting on the garden benches enjoying their laughs and discussion was very satisfying. Another concern ticked off, I now don’t have to worry about my old father feeling lonely at home. Some kids were taking a karate coaching, while some other were riding their bicycle and all this was making the entire atmosphere full of unbounded joy. It all looked like too good to believe. Frankly, if I was not there myself and someone had explained it to me, I would not have believed it. So I won’t blame you if you are not being able to trust this completely. The only solution – Go and check for yourself and come back as mesmerized as I am.

I passed a few residents on my way to the sales office and spoke to a couple of them. They looked happy with their investment decision as they have experienced good appreciation of their investment and finding that the developer has done a very good job in providing quality and services. I then, visited the sample flat. It was a 3BHK flat ( I am told that all the 2 BHK flats are already sold, too bad!!). The bedrooms were spacious and provided enough privacy from the living area. The attached toilets were well done up and looked quite contemporary.

The living area opens into a large balcony, so my dream of creating a terrace garden will also be fulfilled here. I was thrilled as I glanced down and felt the merging of my terrace garden with the landscaped gardens below. The best part was that this balcony was not overlooking into any other balcony. At this stage, my broker reminded me that the project covers an area of 14 acres and has only 536 flats. Which meant that per flat land coverage is the most in this project compared to any other project nearby. No wonder, I always found the other projects from some of the big names too cramped and claustrophobic. Thank God for small mercies, there is a place possible to own with good breathing space.

Oh, but before I come out, I must tell you about the kitchen. The kitchen has been designed very efficiently. In addition to good use of space available, the service balcony and large window make it awesome. There is good light in the kitchen and it is well connected to the dining area. The servant room was not cramped for space and had opening outside, ensuring safety for occupants.

The features of the club were also shared with me. It is going to be one of the best clubs in an apartment complex when completed. A large Swimming pool with a gym and area for other sports, makes it perfect to enjoy the leisure time. The location of the club is excellent and I am already planning to have a duel at badminton with my brother here. The amphitheater, the basketball court, the sitting areas with pergola and beautiful jogging track left me completely speechless. Guess, if I had asked for anything more today, I would have got it.

I came out highly impressed. The developer team also told me about the wonderful legacy of the developer and the fact that they have multiple projects across Lucknow reaffirmed my faith in it. I have now already booked my home here, when are you doing the same?

Why Gomti Nagar Extension is the best residential area in Lucknow in 2021?

If you are looking to buy a home in Lucknow this new year, you must read this piece before you make a final decision. Why? We have looked at various localities of Lucknow and are then making an informed suggestion to benefit you both in short as well as long term. You need this advice because a home buy will probably be the biggest purchase you will make in your life.

Why Gomti Nagar Extension is the best residential area in Lucknow in 2021?

Lucknow is one of the fastest growing cities in India and has increasingly emerged as the preferred choice for buying a home for anyone in eastern and central parts of Uttar Pradesh. A well laid out basic infrastructure, already functional metro rail, an international airport and excellent network of roads provide the basic wherewithal for a tension free life here. Added to this is a well – educated and one of the most civilized population groups in India. This is also the seat of political, judicial and executive power of the largest Indian state of Uttar Pradesh. With a stable government at the hub, the opportunities galore in this futuristic town.

Why Gomti Nagar Extension is the best residential area in Lucknow in 2021?

When one looks at Lucknow, the city has grown in all the directions in last few years. There are developments in Gomti Nagar extension, Raebareilly road, Sultanpur road, Hardoi road and Kanpur road. However, if you ask anyone in Lucknow his preference for buying a new home, the answer in all likelihood will be Gomti Nagar extension or Shaheed path (which is the official name), unless there are budget constraints, one is facing. The rental values for flats in this area are easily 1.5 times a similar apartment in the second best residential area. Despite a relatively new development, the locality is being considered even by old Lucknowites to move in and stay.

The question is then, why this rush to buy homes in this area. To get the answer, we should look at multiple factors. Gomti Nagar extension has an excellent connectivity to the airport and the railway station through Shaheed path. The second thing one looks at is the amenities in the area. Whether you look for entertainment facilities or shopping area, there is no close rival to this location. The largest and the newest mall, the phoenix city mall is located here, which has got a gaming area and a multiplex. There are multiple facilities for sports with an international cricket stadium, Ekana cricket stadium located here. The area is also blessed with many schools affiliated to different boards, where students from all over Lucknow prefer to study. The medical facilities in the vicinity are the best in the town.

Another reason why this locality emerges as the most preferred destination for home buyers, is the most modern apartment complexes on offer by the best builders in the town. Whether it is large north India based developers like Ansal or Omaxe or one of the best developer of UP, Paarth Infrabuild, the properties on offer here have the most modern amenities.

Paarth Infrabuild offers the best located projects Aadyant and Arka in this cluster. These projects are situated adjacent to Phoenix city mall and the cricket stadium and have the best amenities on offer.

Benefits of buying a home from reputed developers

In last decade, the age of home buyers has gone down and number of home buyers has increased substantially. Taking advantage of the same boom, the developers have started to offer the customers with different types of housing projects, for their ease and to cater to their interest.

However, there are some fly-by-night developers who have entered the trade to make some quick money. They would typically release attractive advertisements and offers to lure customers. There are also some developers in every market who have delivered good projects in past but are facing huge financial crisis. Therefore, a critical part of a home-purchasing decision is background check on developer. So what should one look out for:

  1. Choose a developer who has delivered some projects in the city earlier
  2. Check out for a financially strong builder. You can do a google search on the developer to see if he has defaulted on some payment etc or taking huge loans. It’s better to avoid such a developer even if he meets the criteria 1.

While it might sound like some work, a due diligence at this stage will help you to avoid disappointments later. Some of the benefits that one can enjoy by purchasing a home through a reputed developer:

Modern Design

A reputed developer who has multiple projects, will have his own setup to oversee the designing and the construction process. This ensures one gets the most state of the art design, which are functionally useful and provide living comfort for a long time. Typically, a developer with a quick money in mind, doesn’t create his own setup and gets contractors to do everything. This results in compromising quality as the contractor is not bothered about his long term reputation with the end customer. 

Transparency in dealing

A reputed and large developer will have a process to take care of any concern raised by a customer, something which is very important in buying a product with deep engagement. There is a process of 3-4 years during which you need help on aspects like checking progress of the project, payment reconciliation, documentation etc. Small developers don’t have CRM department to handle these queries and ever changing sales people are of no help in such situations. Also, with a large developer, everything will be recorded in writing or through a mail. Registration of projects with RERA also ensure a certain minimum transparency by the builder. The projects offered on individual basis by small builders in unorganized sector are not even registered with RERA and offer no specific details.

Easy accessibility of Home Loans

A reputed developer will already have a project approval done for home loans for its customers through reputed financial institutions. In such a case, it becomes extremely easy for a customer to get his home loan processed. In some cases, financial institutions also offer special promotions on home loans like subvention schemes or special interest rates for home loan on such residential projects.

Timely Project Delivery

Good and reputed developers ensure that they keep their commitments to the customers and therefore use modern project management techniques to ensure customer satisfaction.

Paarth Infrabuild is one of the most reputed developers of Lucknow. They have multiple projects in the city and offer best value for money to its customers with transparent offers.

Living experience in an independent floor

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

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
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

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.

Future of work and home spaces
Future of work and home spaces

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.