Gomti Nagar Leads Way in Lucknows Real Estate Market

By: George Gonigal

Sub-urban areas are fast becoming centers of real-estate developments in Lucknow. According to sources, Gomti Nagar is coming up as one of the most preferred commercial destinations in the city.

Besides Gomti Nagar exemplifies how a residential real estate settlement can diversify into an IT hub. Notably, the locality was established primarily as a residential property . Today it is widely regarded as the IT and ITES hub of the city.

Residential Nucleus

Gomti Nagar lies in the northern part of Lucknow. The locality got its name from River Gomti that flows near by the town. It was the first planned expansion developed by Lucknow Development Authority (LDA). The locality is divided into Phase I, Phase II and Gomti Nagar Extension.

Residential properties in Phase I and Phase II are fairly populated but Gomti Nagar Extension is a recent development and in fact has become the IT hub in Lucknow.

This locality houses major government offices like Reserve Bank of India, PICUP etc. Besides this, many plush office complexes have sprung up in the locality. All these centers generate employment and many people working in this area prefer to live near by. As a result the residential properties of Gomti Nagar have suddenly come in demand.

Organised retail

Gomti Nagar is also the convener of organized retail in Lucknow. The first mall there, called as Eastern Mall, was thrown open some time ago. The mall is spread in about 2.5 lakh sq ft. The people of Lucknow witnessed all the international brands and national leaders with Eastern Mall. Recently another mall, Fun Republic Mall, was inaugurated in Gomti Nagar.

Meanwhile, Gomti Nagar and its neighbouring area of Indiranagar is witnessing quite an impressive demand in retail properties. A lot of leading brands have opened their showrooms in these areas and such positive trends have tempted real estate developers like Parsvnath, Omaxe, Eldeco and Uppal Group to ambitiously launch their real estate projects in the city. According to sources, all three groups have announced different projects in the regions.

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