Lucknow is the capital and the largest city in Uttar Pradesh. Over the last decade or so, the city has emerged as one of the smartest cities of India in various sectors like IT/ITeS, BFSI, retail, manufacturing and more so in the real estate sector. The focus of successive state governments on urban rejuvenation by way of strengthening old infrastructure and creating new and modern social and physical infrastructure. The city attracts businesses, buyers and investors from across North India.
With a population of approx. 45lakhs and growing, the city has fast emerged as one of the most aspirational cities providing top-class facilities like healthcare, school, colleges and universities of excellence, hotels, club and recreational centres, Malls, transportation like metro rail, expressways and highways, airport, Railway Station etc. which connect the city with other parts of Uttar Pradesh and North India. This is the main reason why the city has witnessed an unhindered flow of people and investment in the last few years.
The city is fast expanding with the government facilitating the infrastructure development and real estate developers are developing projects in pockets like Gomti Nagar extension, Kanpur road, Raebareli road, Faizabad Road, Sultanpur road to name a few.
Gomti Nagar Extension –Region with Opportunities
Gomti Nagar Extension is a residential-cum-business suburb of Lucknow, situated on the banks of the Gomti River. Located along Amar Shaheed Path, Gomti Nagar extension provides easy access to Sultanpur Road and Faizabad Road thereby making movement easy within the city and adjoining areas of Lucknow.
This area offers well-developed infrastructure along with well-equipped social environment. Omaxe and other builders are developing luxury apartments in Gomti Nagar extension in Lucknow in 3bhk and 4bhk configuration where a complete lifestyle destination is envisaged comprising not just living but centres of rejuvenation, business and indulgence. The apartment complexes are equipped with safety and security features and have facilities that residents need on an everyday basis like educational institutes, hospitals, banks and shopping zones.
Several new developments in Gomti Nagar extension like Police Headquarters, UP Dial 100 headquarters, International Cricket Stadium, IT City, Mother and Child Care Hospital, State Urban Development Agency (SUDA), Cancer Institute are already operational with Lohia Institute of Medical Sciences in the pipeline. The area is well-connected to rest of the city including the airport through Shaheed Path and offers smooth connectivity with adjoining cities like Kanpur, Faizabad etc through the various national highways. As a result, the real estate in the area has grown and is progressing by leaps and bounds.
The organic flow of people into the city has generated a huge demand for residential spaces and as the populace climbs up the socio-economic ladder, the aspirational homebuyer desirous of a luxurious lifestyle has also grown over the years. The city’s potential and importance can be gauged from the real estate returns of the past decade. Between June 2010 and June 2020, real estate in Lucknow offered returns of 16.1% per annum that was far better than the returns given by some other major cities or state capitals. By 2031, the city’s population is expected to touch 65 lakh and urbanization of more than 70% by 2031. This surge in population and the demand it will create in various sectors will determine the next decade of growth in Lucknow.
Omaxe forays in the city
In the last 15 years since Omaxe made its foray in Lucknow, the BSE & NSE listed builder has established leadership positions on account of its new-age product, committed delivery and brand equity. Omaxe City, Omaxe Heights, Omaxe Residency 1&2 are some of the most prestigious addresses in Lucknow. Currently the company is developing two townships – Omaxe World in Gomti Nagar extension and Omaxe Metro City on Rae Bareli Road.
Omaxe Residency II Omaxe Residency II in Gomti Nagar extension is amongst the most sought after projects in Lucknow. The project offers 2bhk ready to move flats in Lucknow as well as 3bhk ready to move flats in Lucknow. The 3 bhk luxury apartments in Lucknow offers people an avenue to a transformational lifestyle.