Lucknow, the capital city of Uttar Pradesh, is experiencing a significant real estate boom, making it an attractive destination for property investors and homebuyers alike. With its rich cultural heritage, rapidly developing infrastructure, and growing economic opportunities, plots in Lucknow have become a hot commodity.
In this comprehensive guide, we’ll explore everything you need to know about investing in plots in Lucknow, from prime locations to specific projects and investment opportunities.
Table of Contents
The Thriving Market for Plots in Lucknow
The real estate scenario in Lucknow is on a positive track, driven by both residential and commercial demands. The presence of various industries, improving infrastructure, and urban development projects have contributed to the increasing value of plots in Lucknow. Whether you’re looking to build your dream home or make a smart investment, understanding the local market is crucial.
Top Localities for Plots in Lucknow
When it comes to plots in Lucknow, location is key. Here are some of the most sought-after areas for plot investments:
1. Gomti Nagar
Gomti Nagar is one of the most popular and upscale localities in Lucknow. Known for its well-planned infrastructure and proximity to major commercial centers, plots in Gomti Nagar offer excellent appreciation potential. The average price for plots in this area ranges from ₹5,013 to ₹5,783 per square foot.
2. Sultanpur Road
Sultanpur Road has emerged as a promising area for plot investments in Lucknow. With its proximity to upcoming projects and planned infrastructure developments, plots in Sultanpur Road offer great value for money. Prices here start from around ₹2,879 per square foot, making it an attractive option for budget-conscious buyers.
3. Plots in Lucknow’s Sushant Golf City
Sushant Golf City is a premium integrated township that offers high-end plots in Lucknow. This locality is perfect for those looking for a luxurious lifestyle with world-class amenities. Plot prices in Sushant Golf City can range from ₹5,851 per square foot, depending on the location and size.
4. Faizabad Road
Faizabad Road is rapidly developing as a residential hub, making it an excellent choice for plot investments. With improving connectivity and upcoming projects, plots in this area offer good potential for appreciation. Prices for plots on Faizabad Road start from around ₹3,616 per square foot.
5. Kanpur Road
Kanpur Road is another locality that has seen significant growth in recent years. Its proximity to industrial areas and improved infrastructure make it an attractive option for plot buyers. Plot prices on Kanpur Road can start from ₹1,786 per square foot.
Spotlight on Specific Projects
Let’s take a closer look at some notable projects offering plots in Lucknow:
1. Shalimar Paradise (Faizabad Road)
- Plot Area: 22,280 sqft
- Price: ₹1.35 Cr (₹606 per sqft)
- Features: East facing plot, gated colony, 3 floors allowed for construction
2. Sarthak City (Mohanlalganj)
- Plot Area: 11,250 sqft
- Price: ₹15 Lac (₹133 per sqft)
- Features: Freehold, 4 floors allowed for construction, 12m wide road facing
3. Unitevision Vatican City (Sultanpur Road)
- Plot Area: 800-1,800 sqft
- Price: ₹4.79 – 10.78 Lac (₹599 per sqft)
- Features: Well-developed residential plots with amenities
4. Grihpati Vistar (Bakshi Ka Talab)
- Plot Area: 1,000-2,000 sqft
- Price: ₹7.49 – 15.98 Lac (₹765 per sqft)
- Features: Ready to move
5. Silicon Green City (Sultanpur Road)
- Plot Area: 800-3,000 sqft
- Price: ₹8.79 – 32.97 Lac (₹1,099 per sqft)
- Features: Ready to move, bank loan approved
Factors to Consider When Buying Plots in Lucknow
Before investing in plots in Lucknow, keep these crucial factors in mind:
1. Legal Verification
Ensure that the plot you’re interested in has clear titles and necessary approvals from local authorities. Many projects mentioned are approved by UPAVP (Uttar Pradesh Avas Vikas Parishad) or LDA (Lucknow Development Authority).
2. Infrastructure Development
Look for areas with planned or ongoing infrastructure developments. For example, the upcoming Jewar Airport, though not in Lucknow, is expected to positively impact property prices, especially in areas like Sultanpur Road.
3. Budget and Financing Options
Determine your budget and explore financing options. Many projects offer easy payment plans, and some are approved for bank loans from institutions like HDFC Home Loans and LIC Housing Finance.
4. Plot Size and Dimensions
Consider the size and dimensions of the plot carefully. The projects listed offer a wide range of sizes, from 800 sqft to over 22,000 sqft.
5. Amenities and Connectivity
Evaluate the availability of basic amenities and connectivity. Many projects offer features like gated communities, wide roads, and proximity to schools and commercial areas.
Types of Plots Available in Lucknow
Lucknow’s real estate market offers a variety of plot options:
1. Residential Plots
The most common type, ideal for building individual homes or multi-story apartments.
2. Commercial Plots
For those looking to invest in business properties, especially in areas like Gomti Nagar Extension.
3. Agricultural Land
Available on the outskirts of Lucknow for farming or long-term investment.
4. Industrial Plots
With Lucknow’s growing industrial sector, these plots are in demand for setting up manufacturing units or warehouses.
Investment Potential of Plots in Lucknow
Investing in plots in Lucknow can offer significant returns if done wisely. Here’s why:
- Rapid Urban Development: Lucknow is experiencing fast-paced urban development, which is likely to boost property values.
- Affordable Prices: Compared to other major Indian cities, plots in Lucknow are still relatively affordable, with prices ranging from ₹133 to ₹9,863 per sqft in different localities.
- Flexibility: Owning a plot gives you the flexibility to build according to your preferences or sell it later at a higher price.
- Upcoming Infrastructure Projects: Several infrastructure projects, including the Lucknow Metro expansion and new expressways, are expected to enhance connectivity and property values.
Gated Community Plots in Lucknow
For those seeking a more secure and amenity-rich environment, gated community plots in Lucknow are an excellent option. These developments often offer:
- 24/7 security
- Landscaped gardens and parks
- Sports facilities
- Community centers
- Better infrastructure
Some popular gated communities for plots in Lucknow include Ansal API Sushant Golf City, Omaxe City, and projects like Shalimar Paradise and Sarthak City.
Government Initiatives Affecting Plots in Lucknow
Several government initiatives are impacting the plot market in Lucknow:
- UP RERA: The implementation of RERA has brought more transparency and accountability to the real estate sector, benefiting plot buyers.
- Infrastructure Development: The government’s focus on improving road networks, public transport, and other infrastructure is making many areas more attractive for plot investments.
Plots in Lucknow: Investment Corridors
Lucknow offers several investment corridors that are particularly promising for plot investments:
1. Lucknow IT Corridor (Eastern Lucknow)
- Popularity Index: 4.6/5
- Available Plots: 1493
- Key Features: Highly preferred by the IT sector
- Top Localities: Sultanpur Road, Patrakarpuram Crossing Road, Gomti Nagar, Sushant Golf City
2. Lucknow Airport Corridor (Southern Lucknow)
- Popularity Index: 4.2/5
- Available Plots: 1044
- Key Features: Widest range of property options
- Top Localities: Raibareli Road, Mohanlalganj, Bijnor Road, Kanpur Road
3. Kanpur Industrial Corridor (Eastern Kanpur)
- Popularity Index: 3.47/5
- Available Plots: 100
- Key Features: Home to many prominent educational institutions
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What is the average price range for plots in Lucknow?
The price of plots in Lucknow varies widely depending on the location. It can range from as low as ₹133 per sqft in areas like Mohanlalganj to as high as ₹9,863 per sqft in premium locations like Gomti Nagar Extension.
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How is the future appreciation potential for plots in Lucknow?
The future appreciation potential for plots in Lucknow is considered promising due to ongoing and upcoming infrastructure projects, economic growth, and urban development initiatives. Areas near the IT corridor, airport corridor, and upcoming projects like the Jewar Airport are expected to see significant appreciation in the coming years.
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What documents should I check before buying a plot in Lucknow?
Before purchasing a plot in Lucknow, ensure you check the following documents: clear title deed, approved layout plan, NOC from the Lucknow Development Authority (LDA) or UPAVP, land use certificate, and encumbrance certificate. It’s also advisable to verify if the project is RERA registered.
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Are there any gated community plot projects in Lucknow?
Yes, there are several gated community plot projects in Lucknow. Some popular ones include Ansal API Sushant Golf City, Omaxe City, Shalimar Paradise, and Sarthak City. These projects offer additional amenities like 24/7 security, landscaped gardens, and community centers.
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Which are the best areas to invest in plots in Lucknow?
Some of the best areas for plot investment in Lucknow include Gomti Nagar, Sultanpur Road, Sushant Golf City, Faizabad Road, and Kanpur Road. Each area offers different advantages in terms of price, infrastructure, and future appreciation potential.
Conclusion
Investing in plots in Lucknow presents a unique opportunity to be part of one of India’s fastest-growing cities. With its rich cultural heritage, improving infrastructure, and promising economic outlook, Lucknow offers a diverse range of options for plot investments, from affordable areas like Mohanlalganj to premium locations like Gomti Nagar.
As you consider your options, remember to conduct thorough research, seek professional advice when needed, and always verify the legal status of the property. The key to successful plot investment in Lucknow lies in understanding the local market dynamics and making informed decisions based on your specific needs and goals.
We’d love to hear about your experiences or thoughts on investing in plots in Lucknow. Have you recently purchased a plot or are you considering one? Share your story in the comments below and join the discussion on Lucknow’s exciting real estate market!