The capital city of Uttar Pradesh, Lucknow, popularly known as the City of Nawab, is an emerging hotbed for real estate investment.
Known for its cultural significance, Awadhi gratification is witnessing a high demand for both commercial and residential properties. If one believes the numbers from Q4 of 2023, the YoY growth of Lucknow’s real estate has been over 15%.
Fast forward to 2024, the big question is—Should you invest in Lucknow’s rising real estate market?
And to easy this up, let’s dive into the city’s real estate market and understand why it’s attracting both investors and homebuyers! Brownie points—we’ll also have a look at investment opportunities available at Migsun Lucknow Central.
With 2024 on the horizon, the big question remains—should you invest in Lucknow’s real estate? Let’s dive into what makes Lucknow an attractive destination for investors and explore commercial real estate opportunities like Migsun Lucknow Central.
What’s Driving the Real Estate Growth in Lucknow?
Before we move into understanding Lucknow’s real estate market, it’s important that we understand the reasons why it is experiencing growth in real estate. Let’s have a look:
- A Booming Infrastructure
One of the major trends shaping real estate in Lucknow is the city’s emphasis on infrastructural development. Its growth has been driven by the current smart city initiatives, metro connectivity, and highway construction. Only in March 2024, 61 new infra projects worth over ₹8,209 crores have been inaugurated through state-sponsored initiatives.
This surge in development has led to a surge in property prices and enhanced lifestyles of most residents.
- Rising Employment Opportunities
The pace at which Lucknow’s economy is growing can be attributed to the establishment of the IT parks, innovation and commercial parks. These developments have promoted demand on rental facilities and different areas including Gomti Nagar Extension and Sushant Golf City, are in high demand.
- Educational Hubs
New colleges, universities, and educational institutes are being established every year. This has led to much student migration. This has propelled a call for rental housing and student accommodation, hence opening up prospects for investments in both residential and commercial properties.
- The Role of RERA and LDA
New laws under the RERA (Real Estate Regulatory Authority) Act and constant scrutiny on real estate development by the Lucknow Development Authority (LDA) have given investors a sense of security.
These guidelines help to eradicate chances of wrongdoings, helping real estate investments to be more transparent, secure, and reliable.
Top Areas in Lucknow For Real Estate Investment
The future of Lucknow’s real estate lies in areas that are seeing consistent development, Areas like Gomti Nagar and Mahanagar have seen the highest growth with 88.6% and 119.4% price appreciation in between March 2019 to March 2024. Overall, Lucknow’s real estate has seen 25-30% price hike in the last two years.
However, if you want to make a futuristic investment, the above-mentioned areas have a relatively lesser chance since they are already developed. Therefore, below are some areas that promise to produce high capital appreciation in future:
- Sushant Golf City: It is the location of Migsun Lucknow Central, a new-age commercial development., Sushant Golf City being an eco-integrated township is currently in the process of developing as a business district with a number of housing schemes in the surrounding vicinity.
- Amar Shaheed Path: One of Lucknow’s well-connected locations that is lucrative for both residents and businesses.
- Gomti Nagar Extension: Yet another relatively new and already growing fast area in the city which boasts of mix of residences and business complexes.
Migsun Lucknow Central – Lucknow’s New Nawab
Looking for the perfect commercial property in Lucknow?
Wait no more!
After the grand success of Migsun Janpath, the developer has now launched its next flagship, the Migsun Lucknow Central in Sushant Golf City offering retail spaces, and a food court.
Being located right next to Medanta Hospital, the property has a staggering position that promises high footfall.
Key Features of Migsun Lucknow Central:
- Prime Location
The project lies close to Shaheed Path and is barely 10 minutes away from Lucknow International Airport. Besides, the project is just minutes away from residential developments of Sushant Golf City, promising high footfall.
- Sustainable Design
It also includes some green features such as rainwater harvesting and sewage treatment plants, to meet any future sustainability needs of the project.
- Retail Opportunities
Migsun Lucknow Central retail shops in Sushant Golf City are high visible spaces and are located in a high-traffic area that can benefit business.
All these aspects justify the fact that investing in Migsun Lucknow Central’s retail spaces in Sushant Golf City, especially for commercial uses. It makes it a wise business decision for anyone who is in search of long-term capital appreciation.
Final Thoughts
Still, wondering if investing in Lucknow would be a lucrative deal?
The answer is a simple ‘yes’!
Lucknow real estate is likely to experience strong growth in the near future due to urbanization, enhanced infrastructure, and higher demand for commercial and residential properties.
From an investor perspective, investment destinations like Sushant Golf City and propositions such as Migsun Lucknow Central presents one with an opportunity to investment in a burgeoning market. Whether you want to check on Migsun Lucknow Central retail shops or if you simply want to invest in commercial properties to hold and wait until the market in Lucknow improves, now is the right time to do so.