Investing in a Tier II City in India

Not sure if investing in a home in a tier-II city is correct for you?

Moving on from metros and Tier-I cities, real estate investors and finding value in putting their money in Tier-II cities such as Lucknow as well. Buying property in these cities is a great way to invest at affordable rates while enjoying a relatively high rental yield in comparison to bigger cities. 

Here are a few other reasons you must consider investing in a tier II city.

• Fast Infrastructural Growth

  One of the key drivers of many states in India is infrastructural development. The Metro Rail project that is being implemented in cities such as Ahmedabad, Lucknow, Jaipur and Kochi is slated to significantly improve connectivity within the city as well as with the rest of the nation. With enhanced connectivity to close by metro cities, there is definitely a peeked interest among investors looking to buy property. 

• Improvement in Employment Options

  With infrastructural development, comes the growth of commercial activities. This makes the residential as well as commercial property market quite exciting in these cities. With more businesses setting up shop in such cities, there is an expected growth in financial strength of the locals. As more talent chooses to move in or stay back in tier-II cities, more people are looking for residential flats today than ever.
  From a business perspective, setting up an office in tier-II cities tends to be cheaper with regards to operational costs, rent, utility, etc. making it a win-win for everyone involved. Investors too find this scenario to be ideal since earning rental returns on their investment becomes a viable option.  

• Extremely Affordable Market

  When compared to metro cities, living in a quintessential 2BHK residential flat in Lucknow is a lot cheaper than living in an equivalent apartment in a bigger city. Today, cities such as Lucknow, Pune, Jaipur, Mysore and Coimbatore are considered to be the most value-for-money markets to purchase a home in. 

• Affordable Cost of Living

  This brings us to our next point. Over and above earning a rental income or finding an apartment that has the potential to appreciate in value the most, for home buyers who intend to use the real estate they purchase, smaller cities tend to be a lot less expensive to live in. Apart from affordable rent and utilities, one is also benefit from cheaper healthcare facilities, schooling and everything else one would expect from an urban city. Furthermore, there is a benefit of living in a cleaner, safer environment that is especially valued by families with the elderly and children. 

• A Lifestyle that Lives up to Larger Metro Cities

  Today moving to a city like Lucknow or Jaipur doesn’t hold you back from enjoying the ways of life followed by those in bigger metros. Today’s tier-II cities are home to large malls that house premium and luxury retail brands from all over the world. In addition to this, they are also home to the best restaurants and night life allowing you to enjoy everything that one would in a bigger city anywhere in India. 

With low property costs, the government’s focus on building smart cities and the lower cost of living, considering investing in a property in a city like Lucknow can truly pay off in a few years.

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Benefits of Investing in Lucknow Real Estate

If you are planning to move to Lucknow this is the best time to do it as the real estate sphere is flourishing. The city whilst retaining its old world charm has developed into a major centre for housing investment. 

Lucknow

Here are some reasons why—

A Great Shopping Hub 

For many Indians shopping is second nature. Earlier in this great city the major shopping areas were the well-known Gomti Nagar and Hazratganj. These days there has been all-round development and shoppers have a whale of a time. Areas such as Faizabad Road, Rae Bareli Road and Sultanpur are seeing development as commercial places and this mean more opportunities for shopping and buying houses.

Construction of Roads to Aid Housing Development 

• In a great piece of news the Lucknow Development Authority (LDA) has given the green signal for the construction of a 150-metre wide ring road across the town which will bring about more housing projects in the city. 
• To boost real estate a 100-km Outer Ring Road (ORR) will go across the city’s periphery. New townships, housing projects and a cricket stadium which are in the pipeline are a part of this road. The benefits of the ORR has been handed to the National Highways Authority of India for approval.

Steps Taken to Boost Transport 

• Every developed city has to have great transport. If one can ensure that the residence is well-connected to the office or even the school it will be a boon. The Lucknow metro which is in the process of being built will be a huge plus. This is bound to make connectivity within the city very easy and this is a major boost for real estate. Residential development and commerce will also receive a shot in the arm. To further aid the process 8 metro stations will be built by the end of the year.

Development in Keeping with the Times 

• The Indian government has come up with a scheme of assigning the tag of Smart Cities to some cities. The city of Lucknow has been granted the privilege of being one of these Smart Cities. In accordance with this scheme the city will be given assistance and funds to improve itself and make it more suitable for the government’s development schemes. Some aspects where there will be assistance is water supply and sanitation, waste management, transport, IT and e-governance. There have steps taken to better the city in all these aspects.
• These days due to increases in salaries one sees the need for bigger apartments. In Lucknow it is no different, therefore in keeping with this need steps have been taken. More and more luxury-serviced apartments are being seen. 
• One of the benefits of investing in the real estate sphere is that Lucknow is emerging as a medical tourism powerhouse. There are numerous multi-speciality hospitals which have 1,000 beds. Many of these hospitals are close to residential townships. 

Lucknow is fast becoming a real estate stronghold, therefore book a house and use the services of the best builders in Lucknow. 

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