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The demand for real estate investment on the major highway corridors in and around the capital Lucknow is increasing rapidly. Amidst the skyrocketing prices of land in big cities, an excellent opportunity has emerged for middle class families and new investors to buy affordable residential plots. Located at a distance of about 3 hours’ journey from Lucknow, plots in this new project are being offered at a starting price of only ₹ 12 lakh. The most attractive thing is that buyers can book a plot at their preferred location by depositing a token amount of just ₹63,000. Due to direct connectivity with 4-lane national and state highways, this location shows strong potential for rapid appreciation in future from both residential and commercial perspective.
The first and basic rule of investing in any real estate is location and connectivity. Major highway corridors within a 3-hour radius from Lucknow—be it the districts connected by the Purvanchal Expressway, the Ayodhya-Gorakhpur Highway, the Kanpur-Jhansi Route or the Bundelkhand Expressway—are fast developing as industrial and logistics hubs. This township project is directly connected to a 4-lane wide highway, ensuring smooth commuting without the hassle of heavy traffic. Due to direct access to nearby major district headquarters, railway stations and proposed bypass, it is ideally suited for both daily commute and freight traffic. There is always a rapid expansion of infrastructure in the projects located along the highway, due to which there is a huge jump in the settlement and land rates here in the coming few years.
The project has been specifically designed keeping in mind the budget friendly residential needs. Standard residential plots of 800 to 1,000 square feet (Sq. Ft.) are being offered at a starting price of ₹12 lakh, which is sufficient to build an independent house for a medium family. Apart from this, there are also options for larger plots (1,200 to 1,800 square feet). Within the township, arrangements are being made for 30 to 40 feet wide paved asphalt roads, street lights, underground drainage and sewerage lines and gated boundary walls for 24-hour security monitoring. Along with this, development of infrastructure for children’s play parks, green areas and uninterrupted power-water supply has been included in the initial layout plan.
A very flexible payment plan has been introduced to save the middle class salaried class and small businessmen from the pressure of paying huge lump sum amount. Interested buyers can get their plot number blocked by paying an initial booking amount of just ₹63,000. After this, 20 to 25 percent of the total price has to be paid at the time of allotment, while the remaining amount is being given the option to be paid in easy interest-free or minimum interest installments (EMIs) of 24 to 36 months. For the customers making full payment, facility of immediate registration and special discount (Cash Discount) has also been offered by the company. Land loan and construction loan facilities from banks and non-banking financial companies (NBFCs) are also being made available on the basis of project approval.
Before investing in cheap plot ads, buyers should take some important legal precautions so that their hard-earned money is safe. First of all, check whether the project is registered with RERA of the concerned state (UP RERA) or not, and what is its valid RERA registration number. It is mandatory to have a duly approved layout map from the concerned Development Authority or District Panchayat. The status of land mutation and 143/non-agricultural conversion should be clear in the revenue records. After visiting the site, match the Khasra number present on the spot and the Khasra number recorded on the registry paper. To avoid any kind of dispute, get an Encumbrance Certificate for 12 or 30 years from the Tehsil office and ensure that there is no prior bank loan or legal dispute pending on the land.
According to real estate experts, land prices in sub-urban areas directly connected to expressways and 4-lane highways have seen a trend of increasing at the rate of 15 to 20 percent annually over the next 3 to 5 years. Land prices in the core city areas of Lucknow (like Gomti Nagar Extension, Sultanpur Road or Amar Shaheed Path) have gone beyond the budget, due to which small and retail investors are now turning to these outer highway corridors. If your aim is to invest capital for the next 4-5 years or to build a house in a serene environment after retirement, then this project can be a viable option to start with less capital. Before signing any final agreement, inspect the project site yourself and get the documents verified by an independent legal expert.
