A sector that is witnessing a boom in Lucknow is the real estate one. With the implementation of some good infrastructure projects as well as other developmental projects, the real estate market of this city has been on a roll. The number of residential as well as commercial properties has increased and so has the demand for open lda plots in lucknow. Investors are now looking to invest in plots and there are various reasons for it. So in this article we will break down the key reasons to invest in lucknow
Let us have a look at some of the reasons why investing plots in Lucknow is a good option:
Reason 1: The Real Estate Market Is Growing
Lucknow has always been one of the top choices for people who want to invest in property. The city is growing very fast and due to this, several big companies are coming to set up their offices here. This will not only lead to an increase in employment opportunities but also more people will be moving into the city. As a result, the real estate market will grow even more.
Reason 2: Connectivity Is Getting Better
There are many upcoming projects that will make commuting easier for people living here. Some of these include 4-lane roads, cycle tracks, flyovers, red light free corridors and much more.
Reason 3: Low Price
One of the best things about investing in plots in lucknow is that you can buy residential plots in lucknow at a very low price and then turn around and sell them for a higher price and make a profit. You can also keep them as they are and rent them out. This will give you some income.
Reason 4: Developing Infrastructure
As a major business and IT hub, the state government is working on upgrading the infrastructure of the city to make it more attractive for investors and residents alike. The Metro project is about to be completed which will improve connectivity between various parts of the city and make commuting easier. The airport is being upgraded to a complete international airport with better facilities. Besides this, better roads and flyovers are being constructed to ensure smooth traffic flow throughout the city.
Reason 5: Variety of options
There are several builders who have started working on residential projects in Lucknow and there are many options available to choose from according to your need and budget. You can choose from buying a plot at any of the prime localities or even at the outskirts
Reason 6: Greater ROI with plots as compared to Apartments
Buying a plot allows an investor to enjoy higher returns on his/her investment as compared to an apartment. The value of land appreciates over time while apartments depreciate over time due to wear and tear. Also, if an investor buys a plot at 40 Lakhs, he can sell it at around 65 Lakhs after 5 years which gives him/her a profit of 25 Lakhs.
These are some benefits of investing in plots in lucknow which everyone should know before investing in it.