Lucknow has undoubtedly emerged as a real
estate investment hub in last decade or so. While the whole city has seen
increasing real estate activities, the localities on Shaheed path (Known as Gomti
Nagar extension) have offered better returns and continue to hold their premium
position. Let’s look at the reasons as to why this area continues to attract
planned development – Gomti Nagar and Gomti nagar extension are one of the largest
planned residential areas of Uttar Pradesh. The whole infrastructure
development in the area is new and has been planned well. This contributes to a
more relaxed living for the residents of this area.
connectivity – Gomti Nagar extension area is very well connected to the other
parts of the city. It has proposed metro connectivity also. The airport and
station are connected through special expressway, which avoids the congested
facilities – The locality has everything that one can wish for in a residential
address. Large green parks and sporting facilities including the Ekana
international cricket stadium make this area very different from any one can
think of. There are good shopping areas and largest mall of Lucknow, the
Phoenix shopping mall. The concentration of good schools, including some
international schools make it easy for families with kids. The heath facilities
are top class and easily available. There are multiple opportunities for
employment nearby including a software technology park.
– The best part of housing in Gomti Nagar extension area is that despite
wonderful amenities, the prices of properties are quite reasonable. Paarth infrabuild has two residential
communities here, Paarth Arka
and Paarth Aadyant. These
are at the best location of this area and have affordable 3 and 4 BHK
apartments. However, this opportunity for investors may be short-lived as the
number of available units are limited.
value – In last ten years, ever since the Gomti Nagar extension area was
launched, the prices have been appreciating annually here. In last few years,
even when residential real estate stopped appreciating everywhere (and saw a
downward trend in a lot of localities), the properties here have seen a
consistent appreciation. This has been probably due to new infrastructure and
amenities being created regularly. There is still good scope for property price
appreciation here as people look for large units post pandemic and the price in
nearby Gomti Nagar has escalated beyond affordability for most people.
Therefore, those who are looking for property investment in Lucknow are heading
here searching for right property.
All the above factors make this area very
appealing for property investors as well as end users. The rental yields are
also good and with multiple employment opportunities, it is not tough to find
renters any time. Paarth infra build
has two good projects, Paarth
Arka, the highest building of Lucknow, beautifully designed by architect
Hafeez contractor and Paarth
Aadyant, a project where people are already living. The location and design
of these properties have helped them take a premium position in this micro
market and will hopefully help driving more customers to this area.
India is a relatively young country with
more than 50% of its population below 30 years of age. Youth comes with
aspirations and with the world’s largest sub-30 year population, we are rightly
called as an aspirational country. This has been clearly demonstrated in
choices that this generation makes. Housing sector has also seen the
manifestation of this in last few years. The youth of today are widely
travelled and have been exposed to new lifestyle choices across the world. They,
therefore, look for the same when buying a home. The average age of buying a
home is coming down and with it the stress is on proving world class amenities
at a price that is affordable for this buying class.
This dual challenge presents limited
options for property developers. Providing world class amenities to a home
buyer who is looking for buying a home in 16-30 lacs is quite tricky. This is
the budget which youngsters have been looking out for their dream home in
cities like Lucknow and they are disappointed with the currently available
choices. That is where townships like Paarth republic fit
the bill. With large township
development, providing world class amenities becomes possible due to a large
number of residents. Paarth
republic has multiple housing options with their own personalities to suit
different budgets and aspirations. For buyers, who are looking for a lifestyle
at an affordable price, Paarth
republic offers two options in the form of Canary and Humming retreat sub
Paarth republic is a
township planned and built with modern technology at the core. Use of state of
the art methods has also helped it reduce the cost of acquisition for buyers
resulting in a wonderful offering. The township is one of the largest in Lucknow
and is situated bang on Lucknow Kanpur road. This ensures all-time connectivity
to all parts of city as well as easy access to Kanpur and Unnao towns. The
township has modern infrastructure to take care of daily needs of the residents
like sewage, water, electricity and security. The most amazing part of this
community is the recreational and sports facility. This is the only township in Lucknow
which can boast of its own cricket stadium which can host 1st class cricket
competition. The most modern cricket training here offers its residents a
unique opportunity not available elsewhere in entire Eastern and central UP.
The children play area, provision of modern clubbing facilities with Swimming
pool and 3-tier security ensures a happy and stress-free life for its
Affordability of homes with all modern
facilities was always a challenge but Canary and Humming retreat
projects within Paarth
republic township has successfully overcome this. This has opened a new
vista for discerning and aspirational customer at a price that he can pay.
Various housing options within Paarth republic township
meet requirements of different lifestyle requirements at different prices and
make this project a one of its kind option on Kanpur road.
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.
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
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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
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
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
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
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”.
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.
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.
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.
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
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.
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.
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.
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.
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
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.
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.
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
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.
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
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.
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 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.
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.
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.
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.
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.
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).
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.
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.
Paarth Infrabuild, Real Estate Developers, Lucknow, Uttar Pradesh, India