Flats in Lucknow is growing in leaps and bounds not only in terms of the populace but also in terms of infrastructure, development, and housing as well. In fact, the town and country planning department has drafted a much-farsighted master plan that accommodates 197 peripheral areas within city limits. For many, it may be difficult to imagine Lucknow grow beyond Shaheed Path before 2021. As of now, the city is asking for more and flats near Shaheed Path which was expected to be developing has caught up with the times. Back in 2001, it was just slowly shedding its city road project image. Today, it is among the most sought after investible destinations.
With schools, colleges, upcoming hospitals, an IT city in the vicinity, Lucknow is one of the most promising Tier II cities in the country. It has proved its caliber by making it to the list of Smart Cities. In fact, Lucknow Shaheed Path developing for housing to accommodate the lifestyle choices of the modern traveling Indian. Therefore, while medical tourism gains ground in Shaheed Path, certain developers have already started coming up with formats suited to one’s lifestyle. Hence, hotels find a substitute in serviced apartments where you are not restricted by limitations of space, movement or choice of food.
Development of residential housing in Shaheed Path
On the residential front, you could look for a 2 or 3BHK unit within Rs 65 lakh. Firoz Sheikh, the consultant at Cosy Homes says, “If you are an end-user, there is much to gain. Most buyers are not unduly liberal with cash in hand. End users look for the luxury of space and buyers who have their family and friends settled in Lucknow are looking for a comfortable abode. A spacious 3BHK means you have considered a growing family and its needs.”
For those who want to keep it small and flexible, plots starting at Rs 8 to Rs 20 lakh, varying in sizes and amenities are also popular choices. Theme based projects too are in line. Of the new projects lined up, most are rationally priced anywhere between Rs 38 to 70 lakh with possession timelines stretching beyond 2019.
Data also throws up interesting price trends. Compared to areas such as Amar Shaheed Path, Gomti Nagar Vistar Sector 4, Gomti Nagar and Gomti Nagar Extension, Shaheed Path has the lowest entry cost which stands anywhere between Rs 2,800- 3,500 per sq ft in general.
However, note that a healthy return on investment should be expected only in the mid to long run. A look at the graph shows that it is more or less stable when it comes to pricing and an upward trend quarter after quarter, also is most affordable in comparison.