Property in lucknow

Buy or Rent House

Should you buy or rent your next house in Lucknow?

Deciding to buy a flat or apartment is one of the biggest decisions of your life. Buying a flat is once in a lifetime opportunity for many of us. The rising price of the flats/apartments and high rate of interest in the market makes it very difficult for buying a flat or apartment. It does take loads of thought before coming up to the final decision. Owning a flat does take a lot of investment and it is difficult to make payment upfront. So we seek for Equitable Monthly Installments (EMI). This arises one of the biggest questions in the mind that what is best Buying or Renting a flat or apartment?

Each option has its merits and demerits. One of the most common argument is that instead of paying rents you can use rent amount to pay EMIs’ and own a flat or apartment at the same time. But you should be very clear whether to buy or rent a flat or apartment. The following points can help you in making your decision.

Merits for Buying a flat

  • Capital appreciation: Real estate investments do appreciate over a period of time.
  • Tax advantage: Owning an asset, benefit from Income tax. Under sec 80C the principal repayment of your home loan is eligible for deduction.
  • Rental income: If the flat or apartment is not occupied it can be rent out.
  • Rents: You will not face an increase in rentals.
  • Refurbish: Can renovate or make changes in the flat accordingly without having any constraint like you have in a rented house.

Merits for Renting a flat

  • Flexibility: In the period of making your career it often happens that you need to change your job very hastily that may lead to the change of city. So until and unless you decide to settle down owning a flat does not make sense. Because this will decrease the flexibility in moving.
  • Rent lower that EMI: Renting is much cheaper than making the down payment. Down payment is approximately 15-20% of the property value.
  • Expenditure on maintenance: House requires regular maintenance and it is the responsibility of the owner to maintain it. The tenant is only responsible for minor maintenance. Homeowner has to pay property tax. Also, while buying owner has to pay registration fees, stamp duty etc.

Both buying and renting has their own merits. But owning a flat would be a better choice than renting a flat.

  • Rentals may seem cheaper than EMI in the short run but in the long run, it is much higher than owning a house.
  • Rental cost can’t be recovered
  • A homeowner can always mortgage a property but a tenant can’t mortgage a rental property.
  • A tenant has to move out of a rented flat, as per the owner’s demand.

If you are looking to buy flats in Lucknow, trust Paarth Infrabuild. With some of the best residential projects in the city and a legacy of trust and transparency, they will be an ideal support to help fulfil your dream of a beautiful home.

Guide for First Time Home Buyers in Lucknow

Guide for First Time Home Buyers in Lucknow

Buying a home is one of the biggest decisions in a person’s life. Especially buying your first home can be a little overwhelming. There are a lot of question in a person’s mind about budget, location, which builder to choose, whether to go for an under construction property or ready to move in and so on. If you know what your exact requirement is, the entire experience of selecting the correct home for your needs will seem easier. As there are a lot of options available to buy Flats in Lucknow, a first time home buyer may get a little overwhelmed to make the entire process easier for you, we are providing you with a complete guide on what factors you need to consider while buying your first property in Lucknow.

  1. Deciding your budget

The most important factor to consider while making a decision is the budget. Location and type of property will determine the price. This will help you narrow down properties in Lucknow while deciding. You may want to take into consideration your existing financial commitments and have an estimate of the EMIs that you are comfortable paying every month at a reasonable interest rate and tenure. You can calculate this using the EMI Calculator.

2. Deciding the type of property

The type of property you buy depends on factors like the number of family members and your budget. All this will help you decide if you want to go for an independent house or an apartment in Lucknow. This will also help you determine whether you want a 1 BHK, 2 BHK or 3 BHK flat.

There are various projects in Lucknow offering apartments in all sizes at various locations.

3. Focus on the location

Choosing the location for your home is one of the most important factors while making purchase decision. You should choose a location so that your school, office and other places that you need to commute on a regular basis are easily accessible. It is also important to have good connectivity with market, hospitals, railway station, airport and other such social infrastructure. The budget that you have decided will also pay a very important role in deciding the location of your property.

While buying a home in Lucknow, you may consider prominent locations like Gomti Nagar, Gomti Nagar Extension, Sultanpur Road, Golf City, Shaheed Path. These locations have easy accessibility to all the areas in Lucknow.

4. Choose amenities as per your needs

These days apartments in Lucknow offer a host of amenities like clubhouse, kids play area, amphitheatre, meditation zone, Power Backup, Gated Security.

Make a note of the kind of amenities that you require on a regular basis depending on the members of your family. For instance, if you have kids, it would be a good idea to consider an apartment which has a spacious play area. If you have elderly members in the family, you may look for amenities like park and yoga room. If you are buying home in a township, you will have easy access of the things you need on a daily basis as everything will be available in the campus itself.

You may select your dream home on the basis of your requirements.

5. Choose a reputed builder

Buying a home is probably the biggest investment of a person’s lifetime. Since a lot of time, money and emotions are attached to making this decision it is crucial to consider the builder reputation. Check the record of the builder and the company, how many projects has he delivered. There are a lot of reputed builders in Lucknow like Ansal, Omaxe and Paarth Infrabuild.

6. Selecting Home Loan

Since buying a home is a big investment, you will need to avail a home loan. You can talk to your existing banker or look for a project that is already Bank Approved. It is advisable to look for a Bank approved project in Lucknow as it is generally a more secure option as Banks usually do thorough investigation of the financial feasibility of any project before giving approval for loan.

A home loan also offers tax benefits as interest paid on home loan is tax deductible.

Do a thorough research on home loan rates offered by different banks and which is the best suited to your needs.

7. Verify if the project is RERA Registered

The property should be registered under RERA and you can check for the same on the official website of RERA. RERA ensures that the interests of the buyer is protected in terms of what the developer has committed to deliver. This ensures more transparency between the buyer and the developer. In case of any grievances you may reach out to RERA for assistance. So, always look for a RERA Approved Property in Lucknow.

8. Status of the Property

How soon do you want to move in and what kind of payment plan you are looking at will determine the status of the Property you buy. Whether you want to go for an under construction project or ready to move in will also further help you to narrow down your options.

9. Keep into consideration the additional costs

When you are working out a financial plan to pay for your house, do not forget to consider additional costs like property registration cost, property taxes and Maintenance Cost. All these will come into play after you have bought the house but they do make up for a considerable amount and need to be factored in your financial Planning. Do talk to your developer about an estimate of these cost before making the buying decision.

10. Know the Government Benefits available

The Government has several ongoing schemes for first time home buyers and you should find out if you are eligible for any. If you are a first time home buyer, you are eligible to avail income tax benefits under the sections- Section 80C, Section 24 and Section 80EEA of the Income Tax Act. Make sure to avail benefits that the government has to offer.

You may also check with the developer in Lucknow about the benefits you may get if you are eligible for any, on booking your home with them.

We hope this list can help you in making the decision of buying your dream home in Lucknow.

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.

 

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.

What Changes we can see in Property Sales Amidst Coronavirus?

Real estate is a big economic activity in India. In fact, real estate activity is a good measure of economic growth of any geography and therefore India being an economic growth engine, has a fast growing Real Estate sector. There have been a few years when Real Estate contributed to as high as 14-15% of India’s GDP. Though in last few years the industry has faced clear head-winds and is currently contributing only about 6-7% of GDP. Even at this level it is big and has an important place in life of many a people.

The Real Estate Industry has evolved in India over a period of a few years and with regulations like RERA in place, there is a method to how this business can be done. The sales efforts have been more transparent in recent years, which has made the selling more customer friendly. Also, entry of a few corporate and stock exchange listed players in the field has meant that a system driven approach to sales and marketing is being given preference to highly arbitrary practices earlier.  Also, the slowdown over last few years meant that there were fewer new launches and developers started selling products which were constructed and therefore customer could check these before buying. Also, the advent of newer technologies have meant that even when the customer is away from the construction site, he could understand how it would look like.

property in lucknow,property in gomti nagar extension lucknow

These changes had been coming at a slow pace, especially in smaller towns. However, with Covid-19, one could expect this to change very rapidly. On one hand, there will be concerns about repeated visits by a prospective customer to a construction site and hence, customer would like to short-list properties sitting at home. This would force companies to switch to latest available technologies of visualization. While earlier having a few videos of sample flat were considered to be par for course, it will change to developers developing interactive 3D models for buildings and units within this. The scale models, which were a very effective sales tool earlier, may lose the significance as customer is expected to visit a sales office only in the final stage. Also, the ability of a developer to be able to make a customer feel committed to buying, will depend less on sales talk and more on ability to convince him with specific details. This will happen because a customer surfing the internet about various projects will do a more thorough research as he will have the ability to keep flipping till he shortlists certain properties.

In summary, therefore, it is only fair to expect higher level of transparency in the sales calls and property related literature. The company website will be a very important tool to get customers connect and this will hopefully propel marketing teams to spend good time to inspect every single detail that is being put on website. The times of web-calls and effective objection handling on telesales are here as the time for site visits may be limited.

Is Property Investment a Good Investment Right Now?

The world is passing through a phase of great uncertainty. There is a sense of fear in all classes of people and not knowing what is in the store is keeping everyone on edge. There are a few questions people, in general, are grappling with:

  1. How do I keep me and my family safe in Covid times? And –

  2. How do I ensure I remain economically stable during this period of great upheaval?

  3. What lies ahead?

It is really impossible for anyone to come out with a very sound logical reply to all these questions, but something which connects to all 3 questions is – Should I invest in property right now. And to answer the 3 questions, let us look at these questions and attempt to offer some answers basis the overarching question mentioned.

property in lucknow,invest in properties

It is important to understand the importance of prevention in current times. To ensure the prevention of the COVID outbreak, it is important to get immunity levels of everyone in the family high. Also, it is important to ensure that one stays in a neighborhood that is clean and has good sanitation facilities. It in other ways can be seen as a reason to be choosing the area of residence carefully and to select locality inhabited by educated classes. It is no secret that the areas with higher levels of education typically are better in hygiene and sanitation. So if one stays in an area that doesn’t meet these criteria, it is a good time to invest in a property in a better locality.

The second question about economic stability is important. India is a growing economy and Lucknow is a fast-growing town. Home to some of the best companies around the globe, it has a huge population of migratory white-collar workers. Needless to say, there is and will be a continuous demand for good and hygienic apartments by these people. In this context, an investment in a ready to move property can ensure a good and stable rental income. The advantage in this investment strategy is that while one earns a regular income now, he shall earn the benefit of appreciating prices in a couple of years when this pandemic induced threat will be over.

The third question is the toughest to answer. What lies there in the future, is anybody’s guess.  However, one thing is for certain that the uncertainties will be over in the next few months. The economies world over will get into expansion mode and a lot of support money will travel across the world to favorite destinations. India has been and will continue to be one such place that is liked by funds across the world and it is not unreasonable to expect the flow of money to the country in various forms. And once this happens, property prices is one of the first to start driving up. There have been various instances of the same and one who prepares for this situation would reap huge dividends.

It is therefore advisable to invest in properties during these days and reap huge benefits out of this in the years to come.

5 Things to do When Planning to Buy a Property

Families grow and so do the requirements. Modern times have also brought in a lot of gadgets into life. It has also widened the range of expectations that each member of the family has. All this results in aspiring for a property different from the one you are living in. One always wishes to live in a place that can help meet all the expected pleasures of life. However, this is not always possible. The only way one can be successful in this endeavor is by planning in advance.We understand that buying a property is once in a lifetime event and hence, listed here are 6 points everyone should remember to help make the right decision:

property gomti nagar extension lucknow
  1. Understand Your Future Requirements – As we discussed earlier, buying a property is generally a once in a lifetime affair. It, therefore, is important to plan the same well in advance. Please sit back with your family and work out a plan of how you see the family growing over next decade. It is also pertinent to know as to what will be the requirements of each member of the family and how will they evolve during this period. This exercise will help you make a list of what is essential in the house that you would buy. Anything more than this is fine but less would trouble you later.

  2. Work out Financial Resources – While the above analysis gives you an understanding of your requirement, the other important variable is the financial resources that you can use to invest while buying the property. It is important to make a future plan of earning basis your employment status. If you are a self employed person, make an intelligent guess as to how your profession will do over the years and therefore what kind of money you will earn year after year for next 10 years. You should also make a list of essential expenditure that you will face over this period of time to ensure you work out the investible surplus.

  3. Check your Credit Rating – In almost all the cases today, one looks to take a housing loan. It helps you to buy a bigger property in gomti nagar extension lucknow than what you can pay for purely from internal accruals. There are also attractive tax breaks and the rate of interest in general is the lowest on a housing loan. Now, it is important to understand that the rate at which you will get a housing loan depends upon your credit rating. So , go ahead, and check this and work to improve it if needed.

  4. Shortlist Localities – It is important to read through the news and make an intelligent guess as to which localities will grow faster in terms of commercial values and neighbourhood facilities. Look at the Master plan of the town created by development authorities for future. Shortlist the localities that you think will grow and provide the kind of lifestyle you are looking for.

  5. Checkout latest Trends – It is important to know what are the latest development happening in building technology worldwide. Move around and see for yourself the latest trends and list down the developers who are using these technologies and integrating the latest amenities in their plans. Remember, something that looks like futuristic today will be a basic requirement in very near future. 

I am sure if you do these 5 things, you can plan your property in lucknow buying well and your experience will be smooth and you will not regret your decision.

What to Consider Before Buying a home? It’s Location, Location and Location!

Man is a social animal and therefore he needs a social infrastructure to survive. One can’t live a happy and purposeful life if he has to live in isolation. Therefore, it is important to buy one’s home in an area where like-minded community exists and social infrastructure to match that kind of lifestyle is available. In Lucknow, the areas around Gomti Nagar are the best location to live. Simply because of a fledgling upper middle class society and the resultant infrastructure projects, that are keeping pace with increasing population, everyone desires to make this area as his abode. Amongst the new developments, two residential societies by Paarth Infrabuild, Paarth Aadyant and Paarth Arka stand tall in terms of location.

It is always said that the 3 most important criteria to take care of while buying a property in lucknow is Location, Location and Location. Let’s dwell a bit on it to understand the reason for the same. We have observed in the past that some areas in a town develop into much better residential areas compared to others even if all of these started developing at the same time. So why is it so? Answer is deep yet simple. Since early days of urban developments, people preferred living closer to the areas which were important for economic activity. Therefore, we saw the emergence of city centres which had the highest amount of economic activity. People engaged with such organizations, preferred to live nearby and therefore the physical infrastructure in the form of residential areas with facilities like water and electricity developed fast. Along with this, the social infrastructure developed fast to meet the post work requirements of working population as well as the other requirements of families.

Property in Lucknow

When we talk of families and their requirements, we need to understand what a family consists of. The family will have children, elderly parents and of course the working age people. What do each of these groups need to live a fulfilling life? So children will require good schools, play grounds, sports facilities and places to socialize. Elderly will be concerned about 24*7 medical facilities, green areas to sit and relax and same interest groups to while away the time. The working people would expect basic necessities of life like water, electricity and transport that is hassle free, activity areas like sports facilities and markets and restaurants. Now, while it may be fashionable for some of the real estate developers to talk about emerging locations, the fact is that one wants to live in her house today. So if physical and social infrastructure is not yet developed, how is one to be happy and survive? Also, the pains one has to endure for the time when the infrastructure is still developing makes the entire experience quite depressing and isolating at times.

And that is the reason why our elders have always told us to consider Location as the single most important criteria while building our abode. A place that is well connected and close to areas where job opportunities exist. An area where there are quality schools and has kids around where our kids can intermingle and play without us having to worry all the times. A location where markets, cinema halls, sporting facilities exist to engage in socializing. Hospitals and other medical facilities and safety security of the area are other features that you would include in a good location.

Lucknow is a big city now and has been developing very fast for last few years. It has been the hub of political as well as commercial activities in Uttar Pradesh. It is also the preferred city for anyone in Eastern part of UP for various reasons, most of these as we discussed in the earlier part of this article. Lucknow has had an asymmetric development in different directions. So, while residential areas sprang up all over the boundaries of Lucknow, the developments in and around Gomti Nagar have been the best in last 25 years. A locality with upper middle class residents, the emergence of best schools of the city, the finest shopping areas, the malls, cinema halls and the best medical facilities. There have been couple of new developments here that are worth mentioning.

We are talking here about Ekana cricket stadium, the largest cricketing facility in north India. It is also the home stadium of Afghanistan national cricket team and has been hosting international cricket matches more regularly than any other center in India. This stadium is not only an architectural marvel but has also been a center of attraction for people. Another development very close to it is the opening up of Phoenix Palassio, the most modern mall Lucknow has experienced. These two developments have converted this 1 km area into the real magnet and has created the fastest self-fulfilling cycle of development. One can argue that these developments have happened as there are more people living here. But that is a flat argument. People have been living on Hardoi road, around Rae Bareilly road or at Faizabad road for the similar time as here. However, the pace of development and provision of facilities in these areas is absolutely different.

In fact with Ekana cricket stadium and Phoenix city market place, this area would be the magnet that will attract everyone and all the new developments. However, there are not many good residential developments in the area for one to choose. The lucky ones can still get an apartment in either Paarth Aadyant or Paarth Arka with the luxury of watching a cricket match at Ekana stadium from the window of their drawing room. This location only keeps getting with time. Now with Phoenix Palassio Mall, the convenience of an elite lifestyle gets embedded in this area. With both these residential societies developed by Paarth Infrabuild, so close to these future magnets, one can only wish to buy a house here. The amenities within these, complement the facilities outside and promise a lifestyle no otherreal estate development in Lucknow can match.

What’s the Best Time to Buy Property in Lucknow?

Lucknow is the eleventh most populous city of India with a population of approx 28 lacs. It is the capital of the most populous Indian state, Uttar Pradesh. Everyone in Uttar Pradesh, especially in the Central and Eastern part of it, wish to have a house in Lucknow. The reason is not difficult to find. Lucknow is a beautiful city with excellent academic and health care facilities. It is known for some of the best schools like La Martinier, Colvin Taluqdar’s and City Montessori. It also boasts of an IIM, a Medical college and several Engineering colleges apart from a well reputed Lucknow University. A number of private universities have also set up their campuses here in the last few years.

Paarth Aadyant property at Gomti Nagar extension, Lucknow
Inside view of a Paarth apartment on Gomti Nagar extension in Lucknow

And why not? Let’s look at some data. Currently, only 40% of the population in UP is Urban and it is predicted that by 2031, almost 70% of the population in UP will be urbanized. No wonder then that the most developed urban centers like Lucknow will grow the fastest and as they grow there will be a huge demand for housing. This considered with the fact that Lucknow is ranked sixth in a list of the ten fastest-growing job-creating cities in India according to a study conducted by Assocham Placement Pattern. Considering the substantial growth industry has shown in Lucknow, business promoting institutions like CII and EDII have set up their service centers in the city.

The NHB (National Housing Board) Residex, that tracks housing prices across urban centers in India, places Lucknow right at the top among all North Indian cities for the last 2 years. This is true for both constructed as well as under-construction properties. This is also borne out by the fact that most of the large developers from Delhi have setup residential projects in the city. Lucknow has also been an early adopter of large housing projects developed by private builders. Another advantage that Lucknow has is that it keeps expanding in all 4 directions radially, opening up new spaces for housing, while keeping all these places also not too distant from the city center. However, with differential civic developments, some localities have seen a much better appreciation than others. Areas around Shaheed path (Gomti Nagar extension), Ashiana and Kanpur road have seen the maximum activity both from real estate developers as well as buyers. Some of the developments have also been theme-based, like the one by Paarth on Kanpur road which has an international standard cricket stadium. In fact, while talking of cricket, it is worth noting that the new international cricket stadium is witnessing a lot of cricketing activity with this being the base stadium for Afghanistan’s international cricket team. Paarth also has a well-designed project next to this cricket stadium.

While the economy has done good in Luckow, the civic amenities have also seen rapid progress in the town. Lucknow has always been known for its etiquette and literary and cultural activities. The state and city administration has also implemented a smart sewage system. The new smart traffic management system and a project to upgrade the city lighting to LED lights have brought in the modern outlook to the city. The Lucknow Modern Police Control Room (abbreviated as MCR) is India’s biggest Dial 100 service center and has been the necessary support for people to feel safe. Is it then a wonder that anyone you meet around either owns property or plans to own one here. The personnel who have been posted here in various government or private jobs have preferred to make this city their home. One can safely argue basis these factors that for years to come, Lucknow will continue to be one of the fastest appreciating housing markets in India.

One advantage, which one can use currently in the residential real estate market in Lucknow is the availability of affordable houses. The city generally prefers a 2 or a 3 BHK apartment. A good 2 BHK apartment in lucknow can be had art a good location for approx 40 lacs, while a luxury 3 BHK flats in lucknow is available at around 65 lacs. Now, any other city which offers the equivalent civic amenities and facilities to its dwellers with the kind of economic opportunities will not see a 3 BHK flat in a good location for less than a crore. We should not be surprised if this market also started moving very fast towards that kind of price. The reason why the prices have stagnated a bit has been sentimental in nature and the moment it turns to positive, the prices are expected to zoom. In fact, visiting some of the projects on the shaheed path makes one see the green shoots of turn around in the residential real estate market very clearly. All the projects have been reporting higher than normal customer inquiries and sales. Even the secondary market property brokers are very upbeat.

There are also a few external factors which favor a property buyer in Lucknow immensely. The housing loan interest rates are near bottom and governments are clearly bent to ensure proper safety of buyer investments. UP RERA has been one of the most active bodies and it is based in Lucknow. The strong investor groups and affinity of the most transactions to white money results in it being one of the most professional property markets in north India. The influx of new-age businesses is also ensuring young professionals taking fatter pay-cheques home. This supported by the fact that most households in Lucknow have both the partners earning money, resulting in a high disposable income market. The cost of living, on the other hand, is low compared to other cities of similar size and therefore leaves a good investible surplus with families. This buffeted by a strong investor community of traditional business owners makes Lucknow an ideal candidate to seek fast and long term returns growth. With other avenues of investment rather sluggish, it will be prudent to use this as a great opportunity for wealth creation and appreciation. Therefore, the property investment at this time in Lucknow is a decision that just can’t go wrong. If you are looking for a flat to make it your long term home, the available choices will shrink over time. On the other hand, if investment appreciation is your desire, a property in gomti nagar extension Lucknow is probably the best decision one can take at this time.

What Makes A Luxurious House?

“The sky is not the limit, the limit is your vision”

Owning a luxurious house it’s like dream come for most of people. Enjoying all the comforts of the world in your home. In India the word “Luxury” is often being used every other project in real estate developer in Lucknow is names as “Luxurious project”, even though they basic facilities. Following things defines that makes Luxurious House apart from common the normal house.

  1. Location--It is one of the key factors. Should be near the heart of the city or some tourist spot. The connectivity across the city should be excellent. The traffic should be minimal.

  2. Space-The space plays an important in the any part of luxury house. For a property to be luxurious it should have at least four rooms with attach bathrooms, and balconies. A large hall and dining room even the kitchen should be expansive with all the built-in amenities like chimney, microwave, oven, etc.

  3. Floor-to-ceiling-The floor to ceiling should be at least 12 feet. Even if house meets all the other specification but not this it will not be considered as ‘Luxury House’. The more the height the more the feeling of openness. The floor should be Italian marble or have wooden flooring.

  4. Home Techs-The House should be equipped with centralized air-conditioning. Smart home technologies are in high demand these days, technologies that monitor and manage systems inside and outside the house. Whether it is locking the doors or controlling the thermostat, variable-speed air conditioning, appliances, music, and lights, one can look after their home from anywhere in the world using smartphones.

  5. Luxurious property in lucknow
    Resedential property in lucknow
  6. Security-The need for security is increasing day by day in India. The demand for installation of security within the house is also rising. Besides human security in the form of round-the-clock security personnel, electronic surveillance units should be installed in each and every corner of the property.

The above-mentioned points are some of the features for a luxury house. Thus next time when you go searching for a luxury property in Lucknow, you should keep the above points in mind lest you might end up getting duped and lose your hard earned money.

Nowadays, demand for luxury flats in Lucknow is rising and developers are incorporating interesting technological innovations into their projects in order to attract a niche set of clients. Hence, the market for such luxury houses will only grow and get bigger in future.

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