residential

How good is Gomti Nagar extension for property investment

How good is Gomti Nagar extension for property investment

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 investors –

  1. Well 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.
  2. Excellent 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 city roads.
  3. Best 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.
  4. Affordability – 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.
  5. Appreciating 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. 

Affordable homes on Kanpur road

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.

Affordable homes on Kanpur road

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 projects.

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 residents.

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.

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.

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.

Perks of Township Living

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:

Perks of Township Living

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

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.

A vacation without leaving your home
A vacation without leaving your home

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:

  1. 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.
  2. 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.
  3. 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.
  4. 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

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
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.

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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

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

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.

How can a middle-Income Person buy a HOUSE – “Kyunki Apna Ghar toh Apna hota hai”

Apartment in gomti nagar extension lucknow

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).

  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.

Paarth Infrabuild, Real Estate Developers, Lucknow, Uttar Pradesh, India