Commercial Property in Lucknow

If you are looking to expand your business or start a new venture, Lucknow is the right choice to get started. The city is next in line to become a metro city.

Victory Walk Arcade, Lucknow

Victory Walk Arcade is Paarth Republic’s first retail space situated in Greenshank State comprising of Five Residential Towers and a G+1 Floors commercial complex named Victory Walk Arcade. Aiming to fulfil the everyday needs of the residents in the vicinity. The arcade is has everything that one would need on a daily basis such as ATM, chemists shops, food outlets and other retails stores. Indeed, amidst fine environs, the Victory Walk Arcade will be your favourite shopping terminus. 

Visit: http://www.paarthinfra.com/greenshank-victory-walk.php/ or call at 18001025914 for booking and site visit.

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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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What to consider when purchasing commercial properties?

Buying a property requires huge homework and consideration of many factors. The properties are not for living but to generate proper value that will benefit a business. This is why it must comply with the need of a particular business and serve the purpose to increase the business in the long run. If you want to buy commercial property in Lucknow then you need to follow the factors mentioned below to make a safe decision.

Paarthinfra- Commerical Property in Lucknow

Factors to consider before buying 

Often, a good location might become a liability for your business and a prosperous neighborhood might change with time to become a headache for the business. Hence, you need to consider many other similar factors before buying suitable property:

• Location: Probably the biggest factor that determines the fate of a business is the location of the commercial property. If the location of the property is perfect, you will get ample customers to deal with. In fact, a location is also made prosperous by the presence of other facilities like your businesses for the families. On the other hand, if you are dealing with clients then a location nearer to the industrial hubs will be more fruitful.
  Location is and always will be the number one issue to consider before buying a commercial property. The ideal places to buy commercial properties these days are in the commercial complexes or commercial projects catered by the maverick brands. These brands provide an immense platform where all kinds of businesses find an ideal environment to flourish. A business hub is the best option one can avail to buy a commercial property for his business. 
• Physical condition: Once the general location and other associated factors are considered, the most important point that you need to ponder is the physical condition of the property. If it is not a piece of land then you need to ponder on the infrastructure of the building and check other facilities. The environment of the property needs to be perfect for a business. If it is a new one then you need to check the facilities, amenities, and other related factors before indulging to buy commercial property in Lucknow. This is how you will be able to find whether the property will become an asset or a liability. 
• Type of use: The type of use will also make sure what type of properties you want to buy from the best real estate brands. You must identify your needs before buying a property so as to make a good decision. Take a few steps ahead so that you can figure out your requirement couple of years ahead. If you want to own a manufacturing floor then your requirement will be different than those who want an office space. All you have to do is to figure out your future plan and the space requirement to support the plan. 
• Limitations: You need to learn about the zoning laws and building codes that are set by the authorities and regulatory bodies of the area. If you want to make some changes, you will have to comply with the laws and codes. Make sure that your future endeavor does not get hindered due to the laws applicable to the location. 
• Accessibility and parking: The prime issue to buy commercial property in Lucknow is accessibility. It somewhat depends on the location of the premises or land. The location must have good connectivity with the rest of the city. You will also need ample parking space if you are thinking big. 

So what are you waiting for? Act smartly, involve all your resources to find and own the best commercial properties to flourish in the future.

Greenshank State- Commercial property in Lucknow

It is a smart decision to buy commercial property in Lucknow as it could fetch you rich dividends in the long run. However, taking care of certain important points will make sure that you are buying the right property, else it will only end up becoming a liability for you.

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How to Save Tax on your Home Loan?

Owning a home is a matter of pride for most Indians. For majority of the people, it is a long cherished dream. However, considering the constant increase in real estate property prices, it is not easy for everyone to purchase a house exhausting all the savings. Thus, most people go for home loans to turn the process of home buying easier on the pocket. Getting a home loan is no more difficult with banks and several financial entities offering such loans on easy clauses. Moreover, one of the remarkable plus points of getting a home loan is that it helps you save tax. By getting a home loan, you become eligible for tax rebates under Section 24 (b) and Section 80 (c) of the Income tax regulations. Whether you are planning to 2 BHK flats in Lucknow or something larger, it would be wise if you assess your capability to repay and sustain the payments for a long period of time.

Tax Benefits Estimation 

Under Section 80 (c), on principal repayment, you will become eligible for a tax deduction up to Rs. 1.5 Lakh. Moreover, under Section 24, deductions are allowed on the interest of the loan you have acquired. For a self-occupied property, this is restricted to Rs.2 lakhs. On the other hand, for a property that you have offered for rent, you can claim unlimited amount of interest as deduction under Section 24.

What Should be Done for a Self-occupied Property? 

According to the I-T Act, the total limit under Section 80 (C) permits a total deduction of Rs.1.5 Lakh, no matter how much interest is paid. But, you should be careful while requesting for a loan as it will save considerably on your tax outgo.

Opting for a Joint Home Loan May Be Beneficial 

Whether you are planning to purchase 2 BHK flats in Lucknow or apartments bigger than that, you will be able to enjoy huge benefits by opting for a joint home loan. You will not only be able to share your debt-burden with your co-borrower but at the same time, will be able to request for a higher amount of loan since the income of your co-borrower will be taken into account. From taxation perspective, a joint home loan is better as under Section24 of the Income Tax Act, the co-borrowers are eligible to claim tax deductions against the repaid interest and under Section 80 (C) against the repaid principal amount. Each co-borrower will be able to enjoy tax benefits proportionately with respect to the interest and principal paid in a financial year. 

Remember, the above mentioned tax benefits can be enjoyed only after you get the possession of your property. This will not be applicable in any way for a property which is still under construction. Again, if you are already bearing EMIs for a property that is under construction, you will not be liable to claim any deduction for the principle repayment until the completion of the construction work. The advantages of tax deduction can be availed for the interest component but just from the year of construction completion. In spite of this, you will be able to claim for all the interest paid during the years of construction.

Why Don’t You Offer Your Property on rent? 

In specific instances, people choose to stay in a rented property even after buying a property with a home loan. Specifically when your workplace or your kid’s school is a bit far from your newly-bought apartment, you may choose to stay in your rented house. In this case, it would not be wise to keep your property vacant but offer it for rent. In this instance, according to the I-T Act, irrespective of whether you have rented a house or not, the annual rent will be entitled to a standard deduction of 30% which is much more than the interest paid on a loan. For such a property, you need to pay tax on the deemed income you extract from the property. Know that no limit is there on the amount of interest that can be claimed as a deduction. Looking from this perspective, it is better to offer your property on rent rather than keeping it vacant. 

Browse through the blog to know how to save tax on your home loan. This blog will be useful for those planning to get loans for home purchase.

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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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