Manas Nag, a retired central government employee, has settled for a semi-luxury home in Gomti Nagar which has...
Azeagaia Development Overview
Azeagaia Development Private Limited is a prominent Indian real estate firm, promoted by Singapore-based companies through the automatic foreign direct investment route (FDI), having considerable experience and expertise in real estate development market and advisory services across the globe. Our area of specialization lies primarily in the development of Integrated Townships, Commercial and Infrastructure Projects. The main objective of Azeagaia Development Pvt. Ltd. is to redefine the living standards of the country by providing posh lifestyle, coupled with airy and spacious rooms, premium architecture, modern amenities, amid a clean green environment, at an affordable cost.
Residential Real Estate Overview
Traditionally, the residents of Lucknow have preferred to reside in a bungalow or builder floors rather than an apartment, because the requisite supply was available within their budget. However, over the past 6-7 years, residents have shown interest towards high rise apartments and integrated townships. The shift in preferences of the residents is due to availability of superior infrastructure, gated/secured communities and other special amenities such as club house, swimming pool, gym, yoga centre, convenience shopping outlets, etc. This migration of plotted developments to apartments led to the emergence of newer areas such as Central Lucknow (Jopling Road and Gokhale Marg), Gomti Nagar, Gomti Nagar Extension, Amar Shaheed Path, Indira Nagar, Faizabad Road, Sultanpur Road, etc.
Real Estate Market
The Lucknow real estate market is largely ‘end-user’ driven, with moderate investment activity prevalent in newer locations, such as Amar Shaheed Path, Gomti Nagar, Sultanpur Road, Raibareli Road, etc. The investor base includes bureaucrats, defense personnel, doctors, engineers and government officials. Lucknow city also attracts interests from residents of other tier 2 and tier 3 cities in Uttar Pradesh such as Kanpur, Allahabad, Faizabad, Varanasi, Gorakhpur, Gonda, Bahraich, Sultanpur, Unnao, Etawah, Sitapur, Barabanki, Raibareli due to its infrastructural development along with migrating working class population.
Gomti Nagar Extension mainly comprises Amar Shaheed Path, Arjun Ganj and Sultanpur Highway. Gomti Nagar Extension and Gomti Nagar are one of the largest well planned townships in India and are promoted by Lucknow Development Authority (LDA).
Some of the landmark government developments in Gomti Nagar are Reserve Bank of India (RBI), NABARD, Software Technology Park, Central Reserve Police Force (CRPF), Indian Industries Association, Confederation of Indian Industry & Investment Corporation of U.P., Central Warehousing Corporation and Non-Conventional Energy Development Agency. Among the Grade-A commercial developments in Gomti Nagar, majority are located in Vibhuti Khand. Some of the operational retail malls in Gomti Nagar are West End Mall, Fun Republic Mall and Riverside Mall.