Among the cities where the real estate sector has witnessed extraordinary expansion in the past decade, is Uttar Pradesh’s capital Lucknow, an old city with a grand history. While the city is expanding and upgrading its infrastructure, to accommodate the rising number of people, there are many posh areas in Lucknow. Lucknow already has an operational Metro network, connecting its important junctions.
Amid the expansion, certain posh residential areas have managed to remain the preferred choices, for wealthy people in the city. In this article, we list 5 expensive areas to live in Lucknow, where property prices are at par with premium localities in mega cities.
Parallels are often drawn between this heritage locality in the UP capital with Delhi’s Connaught Place, because of its breath-taking colonial architecture and commercial significance in shaping their respective cities. With its quaint bazaars, swanky offices and high-end shopping complexes and eateries, Hazratganj has traditionally been the go-to locality for the city’s influential lot.
Owing to limited availability of land, however, apartment-based residences are the only options availability. As there is hardly any scope for new developments, residences can only be bought only in the resale market, if one is lucky enough to find a seller.
Check out price trends in Hazratganj
The single-biggest reason pushing up values of already prohibitively expensive residential real estate in this market, is the presence of heavy commercial activity.
Properties for sale in Hazratganj: Premium properties in this upscale neighbourhood can fetch Rs 20-30 crores.
Properties for rent in Hazratganj: Rents in this locality could go to Rs 2.50 lakhs per month, while the minimum monthly spend would be Rs 20,000.
This residential-cum-business neighbourhood is named after the river upon whose banks it is located. One of the best planned areas, divided into 27 parts (they are called Khand in Hindi), Gomti Nagar has high-end commercial properties and SEZs. This area also boasts of an equal number of elegant residential establishments, primarily multi-storeyed apartments with swanky interiors and bungalows with elegant exteriors. Such has been the commercial success of this locality that Gomti Nagar now has a railway station, as well.
Check out price trends in Gomti Nagar
“It would be hard to find a property in this area that is worth less than Rs 4,500 per sq ft. Rates may go as high as Rs 15,000 per sq ft,” says Ajay Tiwari, a Lucknow-based real estate agent.
Properties for sale in Gomti Nagar: Property listings available with Housing.com show that rates may go as high as Rs 25 crores in this location.
Properties for rent in Gomti Nagar: Rents in this locality could be over Rs 2.50 lakhs per month, while the minimum monthly spend would be Rs 20,000.
Note here that not all parts of Gomti Nagar fall in the typical posh category and hence, there is a huge variation in the prices in each khand. Do a thorough research about the area, before you select a property in Gomti Nagar.
One of the largest residential colonies in India and certainly the largest in Lucknow, Indira Nagar has a locational advantage. It lies close to Hazratganj, as well as Gomti Nagar. The area also hosts some of the best educational institutes of the city, along with the highly-frequented Bhootnath and Lekhraj markets and historical landmarks.
Properties for sale in Indira Nagar: Property listings available with Housing.com show that rates may go as high as Rs 20 crores in this location.
Properties for rent in Indira Nagar: Monthly rentals could go as high as Rs 1.50 lakhs, based on the exact location of the property and the amenities that come along with the premises.
Just like Gomti Nagar, only certain portions of this locality are considered posh. Be mindful of the exact location while buying a property here.
Check out price trends in Indira Nagar
A residential area with an equally thriving commercial base, Mahanagar is dotted with large independent bungalows, along with apartment complexes. Located toward the north-central part of Lucknow, the area hosts a large number of renowned educational institutes, healthcare centres and upscale shopping centres. This is precisely why this locality remains quite popular for luxury housing in the city.
Properties for sale in Mahanagar: Property listings available with Housing.com show rates may go as high as Rs 15 crores in this location.
Properties for rent in Mahanagar: Rents in this locality could be over Rs 70,000 per month.
Check out price trends in Mahanagar
Counted among the most expensive residential areas in Lucknow, Aliganj is one neighbourhood that has managed to retain its serenity amid the hustle and bustle of a fast-developing city. The availability of quality infrastructure and social amenities, make this area a top choice for luxury home buyers.
Properties for sale in Aliganj: Property listings available with Housing.com show rates may go as high as Rs 10 crores in this location.
Properties for rent in Aliganj: Rents in this locality could be over Rs 1 lakh per month.
Check out price trends in Aliganj
What are the most posh areas in Lucknow?
The most posh areas in Lucknow include Hazratganj, Gomti Nagar, Indira Nagar and Aliganj.
Which is the most posh commercial market in Lucknow?
Hazratganj is considered the most posh commercial market in Lucknow.