Retail Real Estate Shines in Lucknow

By: George Gonigal

The traditional city of Lucknow is gradually picking up with modern concepts of malls and multiplexes. The city once known for its polished etiquettes and hospitality is now a ground for organized retailing. At present, more than eight shopping malls are coming up at different parts of the city, says MagicBricks studies.

The shopping mall culture actually sauntered into Lucknow real estate with the launching of Eastern Mall at Gomti Nagar, some time back. The mall spread in about 2.5-lakh square feet of area introduced the concept of organized retailing in the city.The successful stint of this project was followed by a huge 4-lakh square feet of multiplex project 'Sahara Ganj' on Shah Najaf Road.



Establishment of these malls in the city revolutionized Lucknow properties in a great way. People got fascinated with the quality and luxury, and started looking for properties that could actually match and reflect their lifestyle. Subsequently, the residential properties in Lucknow also gained upgrade in the quality of demand.

'Lucknow people are becoming quality conscious, especially the introduction of swank shopping malls have led to consumerism boom in the city. Entry of big corporate companies in Lucknow has also been resulting to enhancing income levels and it's ultimately the Luckow real estate that would bear the fruits,' said a Lucknow based property dealer.

He added that though the commercial properties at Hazratganj, MG Road are still the hot one but the new mall projects are successfully attracting big brands and their franchises to establish shops there.

Recently, Gomti Nagar added Fun Republic Mall to its kitty. Indiranagar along with Gomti Nagar are the two areas marked with maximum of real estate activities in Lucknow. Prestigious real estate developers like Parsvnath, Omaxe, Eldeco and Uppal Group have their hands in different projects in Gomti Nagar.

For more details on Lucknow Property Prices, log on to magicbricks.com

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