Which are the top three localities in the city which have shown the best price appreciation?
The stretch which has shown the best real estate price appreciation in Lucknow is the Lucknow Kanpur Highway. Also known as National Highway 25, it runs along the south western part of the city. When compared to the 3rd quarter of 2014-15, the going rate for properties here has gone up by 35% in the 4th quarter where the prices stood at INR 3800 per square feet on average. Sushant Golf City comes in second with prices here having gone up by 25%. The going rate for properties here stands at INR 4000 per square feet on average. Hazrat Ganj which is located in the central part of the city comes in third with a price appreciation on 15%. The properties here are priced at INR 7100 per square feet on average.
Which are the top three localities in the city which have the most affordable plots?
Plots are available in plenty in Lucknow. There are pockets of affordability scattered all over the city. The locality with the cheapest plots is located in the south eastern part of the city. The going rate for plots in Gosainganj stands at INR 750 per square feet. Plots can be bought for INR 900 per square feet in Sitapur NH. In the northern and north eastern part of the city there are two localities where one can buy plots for INR 1000 per square feet. They are Kursi Road and Dewa Road.
Which are the top three localities in the city where one can buy affordable flats?
One can pick up affordable flats along the Faizabad Road which runs through the eastern part of the city. Flats located along this stretch can cost INR 2700 per square feet on average. Kursi Road doubles up as an affordable destination for both plots and apartments. Apartments for sale in Kursi Road are priced at INR 2800 per square feet on average. The Lucknow Kanpur Road comes in third on this list with apartments being priced at INR 3500 per square feet on average.
Which are the top three rental destinations in the city?
The eastern and north eastern parts of the city seem to be hubs for rented accommodations. In the eastern part of the city Gomti Nagar and Gomti Nagar Extension are the top micro markets which have a good supply of rented properties. One would have to pay INR 11 and INR 10 per square feet per month respectively to rent out properties here. Located in the northern eastern part of the town is Indira Nagar where properties yield a rental of INR 10 per square feet. If you are looking to rent a property in central Lucknow, then Hazratganj, where one can rent properties at INR 9 per square feet, is the place for you.
Image: By Prakhar Gupta (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons
Kavitha Ravi for IndiaProperty.com