05.21.20

Infrastructure & Development Projects Giving Impetus to Housing Projects in Lucknow

Posted in Real Estate at 8:56 pm by mauraselph9

Lucknow, the capital of Uttar Pradesh, has always been synonymous with glorious past, exquisite architecture, courtly manners, music, poetry and fine cuisine. The city, which is popularly referred to as The Constantinople of India and Shiraz-i-Hind, continues to retain its old world charm and draw tourists from all over the country.

Beside Nawabi-era monuments and rich culture, the City of Nawabs is also moving forward on the road of development. High-rise buildings, shopping malls, multiplexes, hotels, highways, bridges, wide roads, etc., are all transforming the skyline and infrastructure of the city. Moreover, the recent development and infrastructure projects launched by the Uttar Pradesh Govt. such as Lucknow Metro, IT City, Lucknow-Agra Expressway, Intl. Cricket Stadium, Super Specialty Cancer Institute, to name a few, have facilitated the growth of real estate projects in Lucknow.

On the other hand, U.P. Govt. has allocated Rs. 289 crore for metro rail projects, whereas Rs. 598.64 crore has been allocated for strengthening and widening of roads. For the maintenance of roads, the government has made budgetary provision of Rs. 3,972 crore for making them hole free. At the same time, the government has granted Rs 451.58 crore for osanabhousing (www.osanabhousingkhso.com wrote) connecting villages and small towns with bridges and link roads. Further, Rs. 50 crore has been given to establish U.P. State Road Development Corporation (UPSRDC) and Rs. 72 crore has been allocated for connecting district headquarters with four lane roads. Taking all this into perspective, real estate builders have started launching housing projects in Lucknow, especially in upcoming areas and highways, to make the most of the infrastructure boom and growing demand of flats in Lucknow.

The state government has also granted Rs. 386 crore for the development of urban, semi-urban and slum areas and has proposed Rs. 3,100 crore for Housing for All under Pradhan Mantri Awas Yojana (PMAY). In addition, the 2017 UP Budget has allowed Rs. 8,000 crore for the overall construction, strengthening and widening of roads and highways under Central Road Fund Scheme. Apart from this, Rs 251.67 crore has been granted for the construction of roads in the districts neighboring Lucknow, while Rs. 253 crore has been set aside for road construction under World Bank supported U.P. Core Network Project. With infrastructure and development getting a boost all over the state, particularly in Lucknow, real estate companies want to maximize this boom and are all geared up to launch new real estate projects in Lucknow. So, if you are planning to invest your money in a residential property in Lucknow City, then the time is ideal to move ahead with your plans.

Rajeev is sales and marketing consultant at Azea Botanica, an upcoming housing project in Lucknow build by Azeagaia Development Pvt. Ltd., promoted by Singapore-based companies through foreign direct investment. Azea Botanica offers luxurious 3 & 4 BHK flats in Lucknow for sale at a prime location of Vrindavan Yojna, Raebareli Road. Rajeev has a hobby of writing blogs, articles and likes driving sports bikes and cars.

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