Which are the top 3 mid segment micro markets in Lucknow?
If you are looking for mid segment properties head to Sushant Golf City, Sitapur NH or Indira Nagar. The going rate for mid segment properties in Sushant Golf City stands at INR 4000 per square feet on average. In Sitapur National Highway mid segment properties are being sold at INR 4400 per square feet on average. Finally in Indira Nagar, properties in this segment are priced at INR 4500 per square feet on average.
Which are the top three micro markets for buyers in the luxury segment?
The upper limit for the purchase of luxury residential options in the city can be set at INR 2 crores. East and central Lucknow seem to be the hubs for luxury properties. In the eastern part of the city Faizabad Road and Gomti Nagar offer properties in this segment. Luxury flats in Faizabad Road are priced at INR 6000 per square feet. In Gomati Nagar properties in this category are priced at INR 7500 per square feet. Another locality which has been a favourite with buyers in this segment is Hazratganj where one can buy luxury properties for INR 8000 per square feet.
What are some of the major infrastructure projects that are coming up in Lucknow?
The Lucknow Metro is changing the face of the real estate sector in the city. Property prices have been appreciating along several corridors which are set to receive metro connectivity. The metro will have two corridors, the east-west corridor and the north-south corridor. Some of the areas which have shown price appreciation are Indiranagar, Krishnanagar, and Hazratganj. Another project of importance is the Lucknow Agra Expressway which is a 302 km stretch connecting these two cities. A slew of bridges and underpasses are going to be constructed as a part of the expressway which is set to reduce the travel time between the two cities by half.
What is the minimum amount of money required to purchase a property in the city?
If you are looking to purchase a flat in the city, your minimum budget should be around INR 25 lakhs. This will get you an apartment which is 1000 square feet in size. With this budget in mind you can look at localities such as Dewa Road, Kursi Road, Faizabad Road and Chinhat.
Plots which are about 1000 square feet in size can be purchased for INR 5 lakhs. Plots in micro markets such as Dewa Road, Faizabad Road, Mohanlalganj and Raebareli Road will fall in this budget range.
Kavitha Ravi for IndiaProperty.com
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