AN OVERVIEW
Lucknow is the capital of Uttar Pradesh and known to be the largest city. It is known for its vibrant culture, heritage, and historic legacy. It is accessible from all major cities and owns a much higher literacy rate. At the same time, it ensures that prominence lies in the centre of industry and business, research, and education. Lucknow is greatly influencing its development growth in the housing segment which is witnessing many changes, and buyers now prefer a distinctively cosmopolitan lifestyle. The demand for luxury living with cutting-edge tech is offering developers and people the to launch properties. There are varied options that involve integrated township options with themed villas and smart luxury homes.
1. Improved infrastructural developments:
Infrastructural developments are improving Lucknow’s connectivity with other states as the State government. Private players are making great investments in Lucknow’s social and public infrastructure. The Uttar Pradesh State Industrial Development Authority is elemental in making significant investments to assist the state government, moreover, it is meant that infrastructure developments will facilitate smooth functioning and attract people to settle in the city of Lucknow. As the expansion of the city is expanding more and is linked to great metro connectivity. The Lucknow-Kanpur Elevated Expressway, the IT City, CG City, the Cricket Stadium, and the international airport are important government projects that are motivated towards Lucknow’s growth.
2. Shift in Consumer Behaviour:
The rising consumer demands have led to growth in the realty segment to proliferate. Over the years, Lucknow is transformed into a progressive city with a burgeoning population comprising government employees, the private sector, professionals, and others. The lavish lifestyle is equivalent to living in a highly urbanized. The people of Lucknow are moving from traditional kothis to spacious homes and have thoughtfully planned luxurious amenities.
3. Lucknow is witnessing an Influx of NRIs:
NRIs are seen investing in Indian real estate ensuring mainly to invest only. But the Covid-19 pandemic has seen disasters in various spheres, where the NRI community is realizing the fact that the residential Lucknow’s luxury real estate segment is witnessing a hugely significant amount of NRI who are investing. It is making them the major aspect of segment growth. NRIs are looking for homes in Lucknow for personal use or investment purpose. NRI buyers prefer prominent real-estate developers and upscale residences with high-end amenities. Lucknow urban transformation has been momentous and the markets are skyrocketing for gated community enthusiasts.
4. Flourishing Employment Opportunities:
NRIs have always invested in Indian real estate mainly for rental or investment purposes. Yet, with the COVID-19 pandemic wreaking havoc on all spheres of life, the NRI community has realized the need to have a residential property in their home nation for permanent residence in the future.
As infrastructural advancements are growing; it is generating significant employment opportunities in Lucknow. The government is adopting adequate measures to transform Lucknow into a good corporate hub. Many global and domestic MNCs established their presence in the city, including Amazon, Wipro, HCL, Capgemini, HCL, TCS, and Infosys. There are CXOs prefer staying in luxury mansions. Moreover, the working population is also driving the luxury residential segment of the region.
Rishita Mulberry Heights is one such project that offers luxurious 2, 3, and 4 BHK apartments that is having a modern facility system with great features. The total area of the project is spread over 21.45 acres of land. The enigmatic towers and amenities are having vast green landscapes with 80% open spaces. Mulberry Heights gives a peaceful experience to the people and has a habitat that lets one live a splendid life.