Adding a commercial property under the investment portfolio is the new real estate trend these days. What was once considered to be an unsafe investment choice among Indians is gaining widespread popularity on a large scale.
The city of Nawabs, Lucknow, is no new. The city has seen a rapid transformation in terms of location, infrastructure, and growth. This has stirred up some serious demand for real estate investment in the city. However, the overall trend for the demand for commercial properties is increasingly popular in Lucknow as well.
Therefore, many developers have come up with exclusive real estate properties in the city’s top location, like Amar Shaheed Path and Gomti Nagar Extension.
But how does one know to identify the best development that can get you on top of your investment journey and help you bag the best investment in town? Here’s a detailed guide on the top trends to watch out for while making a commercial investment in Lucknow.
Commercial Investment in Lucknow
Investing in a real estate property in Lucknow is a great choice, especially if you are looking for a property to hold for long-term capital gains.
As such, a commercial investment in Lucknow can be made in many ways. Retail spaces, office spaces, food courts, commercial studio apartments, and commercial plots are some options to choose from.
Many areas have seen amazing growth and demand for commercial spaces. These areas are a great pick if you are looking for a property that brings steady rental income along with long term capital appreciation. Amar Shaheed Path, Gomti Nagar, Gomti Nagar Extension, and Sultanpur Road are some examples of areas that have the highest year on year growth in Lucknow.
All in all, a commercial property in Lucknow could be a remarkable investment choice for the future.
Trends to look up to in 2024
It is important that investors understand that real estate property trends are evolving rapidly in India. The reason being the diverse consumer preferences. If the property that you are investing in does not meet the trend that is currently ongoing in the market, the resale value of your property might go down and your investment will not produce the desired result in terms of appreciation.
Hence, it is important that you are aware of the trends and make sure that the property that you are choosing matches the trends. One of the easiest ways of doing so is by investing in an under-construction or a newly launched project like Migsun Lucknow Central in Sushant Golf City.
Here are some of the top real estate trends that will have widespread popularity in 2024:
- Demand for luxury properties
Since the pandemic in 2020, demand for spacious properties have increased drastically. This was a trend that was initially limited to only residential properties. However, in the last couple of years there has been a steady increase in demand for commercial properties that are both luxurious and affordable.
Hence, investing in one will surely get you an edge on a long term basis and you can make the most from your investment.
- Eco-friendly and sustainable development
With more focus on ecological development and the emphasis on sustainability from the government, people are becoming more aware and informed on the need for sustainability.
This has forced real estate developers to embrace eco-friendly practices and implement green development initiatives like Sewage Treatment Plant and Rainwater Harvesting. Apart from that an increased demand for green spaces, and fresh air ventilation.
- Co-working spaces
The number of people who work from home or choose co-working spaces. Individuals and groups of people frequently work in co-working spaces. This has prompted the creation of flats with built-in workstations for these uses.
In addition, the idea of co-working is becoming more and more popular. Many real estate owners are turning properties into co-working spaces or creating offices that are more friendly to partition, mostly to serve the needs of young adults in school and working professionals. Modern ideas for home offices are also leading the way in real estate development. There are currently a lot of commercial projects on Shaheed Path that include such concepts as Migsun Janpath and Migsun Lucknow Central in Sushant Golf City.
The final Verdict
In recent years, there has been a significant transformation in real estate patterns due to the shift in India’s purchasing power. Because of the market’s diversity, new trends must be adopted entirely.
As the Indian real estate industry continues to evolve and meet a wider range of needs, real estate developers must also keep up with the times in the event that you anticipate new developments in Lucknow.
Working in co-working spaces has also become more popular as a result of the pandemic. As a result, real estate investors are now searching for spaces that can easily be customised to offer services to a wider audience. Developers and builders see the need for this shift and are making a concerted effort to meet the growing demand from consumers looking to purchase commercial properties.