The Impact of Reverse Migration on Tier-2 and Tier-3 Cities

 Coronavirus has had a severe impact on all employment sectors. From demand to sales to manufacture, everything has taken a dive now. Real estate is no different. As people have started moving from metropolitan cities back to their small towns. The whole picture of the real estate has changed. 2 BHK flats in Lucknow are the primary example of this transformation.

Due to reverse migration, there has been an increase in real estate properties in tier 2 and tier 3 cities. Below is a detail description of the causes and nature of this hike in demand:

The story by far depicts that tier- 1 cities, that is, the top seven cities in India held the highest number of real estate properties. Tier- 1 cities accounted for approximately 70% of sales in the real estate industry. The main reason behind such a high percentage was the large migration of people to tier-1 cities for the sake of employment.

But the Coronavirus pandemic has lowered the economy and augmented unemployment. Some people are losing their jobs while others are shifting to work- from- home. As a result, there is reverse migration. Herein people are turning back to their homes which, in most cases, happen to be in a tier- 2 or tier- 3 cities.

Get Easy 2BHK Flats in Lucknow here

The current phase of reverse migration hints at a surge in demand for homes and investment in real estate properties in tier-2 and tier- 3 cities. Most buyers are end-users, that is, they invest/ buy a house for their personal use. Lucknow, Coimbatore, Jaipur, Chandigarh, Kochi, Indore, and Ahmedabad are amongst those cities that will benefit in the real estate sector due to the changing scene of migration. Already there is a surge in 2 BHK flats in Lucknow.

An essential point- to- note here is that before the commencement of pandemic and reverse migration, the graph of real estate in tier 2 and tier 3 cities has already started improving. The reason amounts to the low economical cost of living. You see, in comparison to the metro cities, living in tier 2 and tier 3 cities are cheaper+ the property rates for buying a house is also lower. These cities offer affordable living.

Also, it is worth considering that nowadays 2 tier and 3 tier cities offer just as good infrastructure as a tier 1 city does. There has been an up-gradation in features. Take the 2 BHK flats in Lucknow, they are affordable as well as well built.

Are 2 tier and 3 tier cities Experiencing Growth?

One last factor that has led to an increase in real estate sales. This deals with 2 tier and 3 tier cities are the reverse migration of NRIs in this pandemic. Due to uncertain situations and economic dropdown across the globe, various NRIs are coming back to India. Not every NRI can buy a luxury house in a tier 1 city right away. Hence, they opt for residential units in tier 2 and tier 3 cities. 2 BHK flat in Lucknow is the foremost example here. They are good from every angle, be it hygiene, security, or modern amenities.

To conclude, the COVID- 19 pandemics has done something good for two-tier and three cities in India. Let us see how far these benefits go.

How to Buy Commercial Property in Lucknow

 Lucknow has seen a vast upliftment in the employment sector lately. Various startups have opened up and other MNCs have also collaborated with top entrepreneurs of this city. As a result, there is a hike in the demand for commercial property in Lucknow.

Commercial Property

In simple words, commercial property refers to a piece of land. A portion of real estate that uses for business purposes. The aim is to generate profit, and in some cases, a larger rental property. Commercial property affects tax treatment, laws, and financing of the business. Furthermore, a commercial property depends upon sales price, occupancy rates, and new building rates.

There are varieties of commercial property in Lucknow such as malls, grocery stores, office buildings, manufacturing shops, etc. Investing in commercial property in Lucknow is a profitable idea as it results in high return be it in the form of business property or holding it up as an asset.

How to Buy Commercial Property in Lucknow?

Here is your guide to buy the best commercial property in Lucknow.

Property Type

There are numerous kinds of properties in Lucknow, you must analyze which one of them shall let you gain better.

Commercial properties include prime secondary, or tertiary. Prime properties are situated in big cities. Secondary properties are situated in peripheries. While tertiary properties are situated in less primary locations.

Furthermore, industrial buildings such as warehouses and offices are not easily bought and sold. Commercial properties on the outskirts of the city are usually expensive. Warehouses, comparatively, offer good results.

Location

Location is a significant aspect that one must consider while buying a commercial property in Lucknow. See that there is no oversupply of similar kinds of properties in that area to keep intact the value of your property.

Go for such a location that holds a good prospect for upcoming infrastructure projects. Next, select an area with strong population growth, one that requires shopping centers, financial service companies, and restaurants in the future, so that, there is a god scope of rental value.

Property Size

The next factor in buying a commercial property in Lucknow is property size. Property size is directly proportional to the amount of money you can invest. If you want to buy a large property, not only you must save an ample sum of money but also explore different mortgage options. Also, check out the offers of bank loans.

Growth Prospects

As a buyer of commercial property in Lucknow, one must consider the growth prospects in terms of rental income. Both big units and pre-leased assets are a good source of investment. While the former is good for long term investment, the latter is a good source of instant revenue.

Property Documentation

Documents are of course essential, be it in case of residential properties in Lucknow. It is mandatory to carefully check the documents before the purchase in order to get a better idea of the legal aspects of the property. Hire an agent to accompany you so that he can calculate the entire cost of space and identify the extra cum hidden space.

Understand the Market Drivers

Lastly, the economic situation is a fundamental criterion in buying a commercial property in Lucknow. For instance, in an economic downturn, the demand for commercial property may fall down. Hence, one must be aware of prevailing economic conditions, certain government policies, and market drivers.

Row Houses in Lucknow: Facilities that You Owe While Buying a Better Living

 Lucknow, the capital city of Uttar Pradesh. A place known for its tehzeeb- tameez, is a profitable option to invest in real estate. The city has a holistic bundle of offers. Ranging from flats, lands, to commercial apartments. Add to that, there are also row houses in Lucknow, a potential area to invest. This blog is dedicated to the details of row houses in Lucknow so let us begin with a quick introduction.

What is a Row House?

Row houses are single-family residential units. As the name implies, they are arranged in a row. On a minimum basis, there are at least three such units. They are attached to a common wall along with front, rear, and interior open spaces.

Row houses in Lucknow are a considerable operation. Because they have an appropriate balance between luxury, affordability, and convenience. Row houses in Lucknow have become quite favorite of all and the reasons being:

Lower construction costs and land space requirement for every dwelling unit

Cost-effective in comparison to building detached units

One can work on his savings by opting for fewer windows, party walls; land cost due to less space; and utilization of precut subunits

The residents can enjoy usable open space

Row houses give an apartment-like feel and are especially suitable for married couples or single family

Row houses and especially row houses in Lucknow provide more space for less money

Expenses on maintaining and operating are less

Row houses in Lucknow offer superb amenity facilities

Furthermore, row houses are at an advantage of rendering more privacy

Row houses suit high populated areas as it can accommodate more families on less land

There is more net actual usable space in row houses as compared to other residential places as there are no wasted side yard space, etc

Features of Row House

The common features of row houses in Lucknow are:

Row houses do not share the same stairway

There are a minimum of three dwellings in a row

Row houses have a uniform plan, fenestration and architectural treatment

Quite often row houses have rainwater harvesting provision

Row houses work upon solar power (for lighting homes)

Row houses give a feel of community living as they are constructed in group layout. Thus there are common parks, playgrounds, row houses, etc.

Complete RCC Structure

External cladding of high-quality stone. Along with cement bricks that ensures the cooling effect

The structure of row house in Lucknow lay in harmony to traditional construction techniques

Polycab PVC concealed wiring

Hallin row houses in Lucknow have an external balcony with access to own small garden

Garden houses help in easy watering of lawns

There is a series of houses that are identical in plan and design

Herein occupants usually share the amenities with their neighbors.

About project delivery, costing, and execution. These houses are more practical than multi-story apartments. This is related to project delivery, costing, and execution.

It provides more freedom and flexibility to their owners.

Security is a significant point of concern in row houses

Row houses are easier and less expensive to maintain

How It is a Good-Deal to invest for Row Houses in Lucknow?

Well, this can be your concerning part for which you are reading this blog.

Suitable for investors from all walks of life

Be it a nuclear family, a joint family with kids and pets, or just a mature couple, row hoses work for everyone.

Great value for money

In a decent budget, one gets to live in an independent house. With the amenities and convenience of an apartment.

Low maintenance

Since the maintenance work is handled by the internal housekeeping team. The residents do not have to invest much in maintenance.

You can, therefore, be fairly judged. As a profitable source of investment, one that lets you reside in your dream house!

Places to get Row Houses in Lucknow

IIM Road

Kursi Road

Lucknow-Kanpur Highway

Raebareli Road

Jankipuram Extension

Vikalp Khand, Gomti Nagar

Amausi Road

Preeti Nagar

Sultanpur Road

Get an Ease of LDA Approved Plots in Lucknow

 When it comes to real estate in the capital city of Uttar Pradesh. LDA approved plots in Lucknow are incumbent to mention.

Indeed, Lucknow is a developing city that is perfect for real estate investment in all sense.

Great view

Easy commute

Metropolitan- city

Good job/ educational opportunities make Lucknow a hub of investors.

Amongst all plots, LDA approved plots in Lucknow are the most opted. So let us dig in deep to know more about it.

LDA

LDA elaborates as Lucknow Development Authority. It is a unit of Uttar Pradesh Planning and Development Act, 1973. Developed in 1974, LDA has upscaled from a small establishment into an overreaching authority.

LDA approved flats in Lucknow aims

Coordinated and planned development of Lucknow

Extend urban infrastructure

Make Lucknow as the worthiest capital city of India

Render an all comprehensive, holistic environment to each section of the society.

To achieve the above goals. The Lucknow Development Authority coordinates with a comprehensive Master Plan. Additionally, it too caters to other agencies. Related to the creation and expansion of infrastructure. Under this Master Plan, the LDA approved flats in Lucknow are directed towards the following goals:

Set up appropriate rules and regulations for the sake of effective and organized development of Lucknow

Provide an effective transport system for easing out traffic and transportation issues

Balanced price and distribution of LDA approved flats in Lucknow to the public

Layout rules for the conservation and maintenance of historical places in Lucknow

Ensure a healthy environment in Lucknow

Pluses of LDA

Minimally polluted colonies with healthy cum eco- friendly ambiance

A sector-wise planned development of residential, commercial, multiplex, school, and medical areas

Allotment of more areas to private builders under the ‘Planned Development’ scheme

Revamping of public places in Lucknow

Successful implementation of the OTS scheme. This is a one-time settlement scheme. For the defaulters of old allotments of various plots in Lucknow

Since LDA approved plots in Lucknow have such tremendous scope, quality, and benefits, many people like to avail it. If you too are eyeing an LDA plot then here is how+ where you can get one:

LDA approved plots in Gomti Nagar

LDA approved integrated township, greenery with schools, gardens, and hospitals. Bank approved and ready to move 2/3/4 BHK residential LDA units.

LDA approved plots in Gomti Nagar extension

Near to HCL IT city. Connected with Sultanpur & Gasaiganj Mohanlalganj National Highways. At affordable rates in 56, 56B, Under LDA Covered Area.

LDA approved flats at New Jail road

LDA Approved, Integrated Township with Schools & Gardens. Commercials with Shopping Complex within. Near Indira Canal.

Scheme for LDA approved plots in Lucknow

There has been a hike in the demand for residential and commercial LDA approved plots in Lucknow. Various areas have been more in more on call. These include Indira Nagar, Gomti Nagar, Gomti Nagar extension, New Jail Road, and Alambagh.

The Lucknow Development Authority comes up with relevant schemes from time to time. The most recent is the LDA New Housing Scheme 2020. Herein flats are offered to various strata of the society. Its registration can be done via both online and offline methods. Under this scheme, one can acquire 1 BHK, 2 BHK, and 3 BHK flats for categories like EWS, HIG, MIG, and LIG category. The LDA New Housing Scheme 2020 is designed for the location of Gomti Nagar, GomtiNagr Vistaar, and CG city.

To apply for a property under this scheme, go to the official website of LDA. If the registration is still going on, you can fill in your details, or else you can check other schemes and rates of LDA approved plots in Lucknow.

Tips to Beautify your 2BHK Flat in Lucknow

Designing is the soul of a house. It brings a feel of belongingness, a touch of personalization. You give your house your style and that is the very essence of comfort living. 2BHK flat in Lucknow is ideal for small families or a couple of roommates.

Designing such a flat is fun and the beginning of a happy stay. There are umpteen varieties of home decor. In today’s blog, I have collected some absolutely fantastic, convenient, and cost-effective designs for your 2bhk flat in Lucknow. So here we go:

First things first, when decorating your dream house you need to consider the following things:

Ventilation

Window size

Space/area

 

The age-old trick for a small 2bhk flat in Lucknow is to use mirrors. Oh yes, mirrors it is! They open up space. You can simply put a mirror panel in the dining area clubbed with some silver, shiny chairs, and a classy bench to enlarge the space and make it look happening.

Ever heard of upholstered walls? Well, until now we use padding, cushion, and springs for furniture. But with the rapid change of taste and emerging experiments, there is a new way to use them and that being through a wall. Yes, when you craft a cushioned- padded- spring wall it is called an upholstered wall. No, it is not at all difficult to clean. In fact, an upholstered wall is a perfect tip for minimal design.

Wanna make your 2bhk flat in Lucknow seem cozy? Use warm colors (blue would be a good choice) and wood. Woods always compliment grey floors. This blue-gray and wood combo makes your flat inviting. Furthermore, in the bedroom, you can add a wall-to-wall headboard. Blend it with whites and open shelves. That’s it your cozy, gorgeous suite is ready!

Not to forget children. If you are shifting into a 2bhk flat in Lucknow with little ones then be extra cautious. Design the flat according to the safety of the children. Artificial turf on the balcony, for example, can make it safer for children to play. Colors also make a huge difference. For example, mint green wallpapers and pastel pink sofas for the drawing-room while carton printed dining chairs suits a family with kids.

Aha a pet-safe flat, how could I miss that. Pets are too common and so you will need a little carpet of fur at home. You will need pet-friendly fabrics, and some beige+ rich purple combination. More so, you can incorporate a velvet upholstered headboard and some grey accent wall in the master bedroom of your 2bhk flat in Lucknow for the sake of your darling pet.

Budget-friendly home designs are the most desirable. You will have to play smart to get a budget home with storage solutions. Closed crockery units and open shelves are the best options to save money in the kitchen. For the master bedroom of your 2bhk flat in Lucknow, try modular storage options with wardrobes and lofts.

Next, you can try a contemporary- neat- modern outlook with minimal efforts. A simple T.V unit next to comfy seats in the living room is good to go. Add some pendant lights in the kitchen for a fancy look. For the kids, you can put single beds with a chest of drawers in between. And there is your simple+ functional 2bhk flat in Lucknow.

If you are up for simplicity, then explore a Scandinavian design. A simple, Scandinavian dining table conjoined with channeled upholstered armless chair+ a standout bench. For the bedroom use classy, white, crisp walls. Oh, and if you add a French wainscoting panel then the look… oh my I already love the feel.

How about transforming the era. Well, yes, some people love the vintage look and that 90’s era of black and white. If you are one of them then put some brown- black- gray sort of gorgeous hues and accent elements to your 2bhk flat in Lucknow. Lucknow, being the city of nawabs is perfect for vintage lovers. You will find tons of vintage prompts in this city to add flavor to your house.

So then, the above are some design features for a compact, cute little 2bhk flat in Lucknow. They are in accordance with different styles, interests, family sizes, and requirements. Irrespective of which design you choose, there are some mutual tips that any resident of a 2bhk flat can benefit from. For instance:

Use creative baskets and decorative trays to enhance the features of your house. A handwoven basket or a gold tray with some magazines and scented candles on the coffee table work wonders.

Do not crowd the house with small pieces of furniture. Rather, use a single big statement furniture piece and that’s enough.

Now give your home your kinda look with the above designs and enjoy a comfortable living!

Get the Best of Cheap Flats in Lucknow with Advanced Facilities

 

 

Lucknow is a hub of easily affordable real estate units. There are numerous cheap flats in Lucknow today which one cannot simply resist buying. The tremendous offers+ schemes on cheap flats in Lucknow suit every stratum of society.  Therefore in this blog, I will like to shed light on ‘affordable housing’ in the context of cheap flats in Lucknow.

Affordable Housing

As implied by the name, affordable housing refers to those housing units that are within reach of those with low incomes. Affordable housing is exclusively offered to low-income people. Economically weaker sections of society, and middle-income people. Local and national governments characterize these low-income people via certain parameters. Cheap flats in Lucknow is a part of affordable housing.

The factors on which affordable housing depends are:

• Income
• Affordability
• Size of the residential house/property

Major forms of affordable housing include indigenous housings. This further states subsidized housing, emergency shelters, and formal and informal rental.

There is a certain importance of affordable housing for cheap flats in Lucknow. This includes:

• More population and low per capita income
• Majority of people do not possess high purchasing power
• Massive inward migration of families from rural areas or semi-urban areas to urban areas

Shortage of houses. As per the Technical Group Report, there are 2 low-income categories that constitute 96% of the total housing shortage in India. These groups are economically weaker section (EWS) and low-income group (LIG). 

Initiatives for Cheap Flats in Lucknow

Furthermore, if one wants to avail of any cheap flat in Lucknow. Or other affordable housing units. You must understand the following initiatives taken by government:

• Prime Minister Awas Yojana (PMAY) Urban

The Pradhan Mantri Awas Yojana (PMAY) scheme was launched in 2015 by the Central Government. The motive was to provide ‘Housing for All’ in urban areas by the end of 2022. The PMAY provides central assistance to all eligible families in India. Its primary features include:

1. Boost the purchasing power of a large number of families
2. Provide interest subsidies to families based on their home loan based and income category.
3. The amount paid to families under PMAU can be used for the renovation of their current Kucha house or semi-pucca house.

• External Commercial Borrowing (ECB)

External Commercial Borrowing has been allowed since 2012 for Affordable housing projects. The aim of these borrowings is to enable lower interest costs for developers. It also focuses on confirming improved capital availability for developers of low-cost housing.

• Opening up of Foreign Direct Investment (FDI)

The reason why the Indian government permitted Foreign Direct Investment (FDI). Includes enhancing construction development, housing, townships, and built-up infrastructure.

• The Central Board of Direct Taxes (CBDT)

CBDT is another helpful initiative taken by the government for affordable housing. The CBDT works under section 35AD of the Income Tax Act. Herein, it offers the benefits of section 35AD. Such as permitting 150% of capital expenditure. As a tax deduction for affordable housing.

• Encouraging Developers in the affordable housing sector

In addition to buyers, there are certain measures for developers for affordable housing as well. These include incentives like subsidies, tax benefits, and most importantly, institutional funding.
The government has also introduced a dedicated Affordable Housing Fund (AHF) in the National Housing Bank. This is an allocation of funds from priority sector lending shortfall and full-service bonds authorization by the government of India.

• GST rates reduced for affordable housing

Lastly, there has been a reduction in GST rates. Recently the GST Council lowered tax rates for affordable housing, from 8% to just 1%.

The Council has also enhanced the ceiling value of affordable housing to Rs 45 lakh.
A lot is happening in reference to affordable housing. Lucknow city is offering complete support in this endeavor by offering cheap flat and best housing units.

How To Put an Old House for Sale in Lucknow?

Do you have an old house for sale in Lucknow? Well, lucky you because the old house, in any case, brings good revenue.

I know it sounds surprising but the older a house, the better is its return. Here are few tips for all Lucknowites who wish to add value to their old house for sale in Lucknow. Scroll down to know more.

Price

Sale, well it’s a number game I say. You must research, think, and price your house intelligently. Price makes a huge difference. Not to forget price is also the main attractive component for buyers. A good sale calls for the right price tags.

While working on an old house for sale in Lucknow you must be careful of both overpricing as well as underpricing. Underpricing lowers the returns while overpricing takes away potential buyers. You need to think from the buyer’s viewpoint. That is why research is so important. Visit the neighborhood, check out the prices, and accordingly set your selling cost.

Repair

Since we are talking about an old house for sale in Lucknow, repairs become mandatory to mention. Thinking from the buyer’s perspective, a furnished house looks good. So, a repair here, a fresh coat of paint there will increase the chances of your house sale. Also, there might be some minor repairs such as broken windows, damaged stairs, leaking faucets, chipped off plasters. When you put your old house for sale in Lucknow for display, then make sure that it looks good, tidy, and spacious. This process is formally called home staging. One may take the help of professionals to stage their home perfectly.

Broker

In today’s busy life and hectic schedule who has got time to show their house to each and every visitor? Hence, we have brokers. They are employed for the particular task of showing rental properties to customers. In order to save your time, energy, and effort you must hire a broker. He will not only bring interested parties but also help you out with negotiations and paperwork.

Note: Before hiring a broker, check his profile, reputation, fee, and previous deals.

Effective Advertising

Advertisement, advertisement, and advertisements… the more you advertise your old house for sale in Lucknow the more customers you shall receive.

Social media is the most cost-effective, and quick way of advertising. You can take captivating pictures of the house and upload it on social media. Incorporate your contact details and a small description of the property for customer’s ease. More so, you can highlight some features.

Talking about advertising, never give wrong information as customers will find out the truth via the internet’s blessings.

Lastly, you can use premium paid services as offered by various websites. Especially social media sites for a better advertisement campaign.

Paper Work

Keep your documents related to the purchase and selling of the house absolutely ready. See that all official papers related to tax and other necessities are in place.

If you implement all of the above your old house for sale in Lucknow shall result in a real bonanza!

Why, Where and How to Find the Best Plot Cum Flats in Lucknow

 

 

 

Lucknow, the city of Nawabs is the capital of the state Uttar Pradesh and one of the fastest-growing cities in North India. Lucknow is a perfect blend of tradition and modernization. Herein you will find forts and monuments to even cheap flats in Lucknow and plots. Lucknow has advanced abundantly in the past few years. The city offers all sorts of facilities from electricity, transport, water supply, quality education, and employment to the newly introduced metro service.

Those interested in real estate will find great opportunities in Lucknow with a well lavish lifestyle. Here is a little insight into the real estate purchase in Lucknow city.

LUCKNOW: The Best Place to Invest in Real Estate

The reasons to invest in plots for sale in Lucknow and cheap flats in Lucknow are as follows:

• Lucknow encompasses industries, commercial properties, corporate offices, malls, residential places, etc.
• There is development in every peripheral area of Lucknow, for instance, the Lucknow airport now has a superior residential infrastructure.
• There is more smart urban population, mostly belonging to the service sector, who prefer modern, high- quality homes, and workplaces.
• The demand for professional- modern infrastructure is rising in Lucknow city.
• The prospective real estate areas are situated in a serene, greenish area with an upscale neighborhood.
• Lucknow is situated on the banks of river Gomti and with golden quadrilateral road construction, the view is simply amazing.
• Employment opportunities in both the service and commercial sectors have boomed up.
• NRIs have started investing more in this developing city. In fact, Bollywood too has set up many projects in Lucknow. The shooting of Gulabo Sitabo in Lucknow is a recent example.

Best Cheap Flats in Lucknow to Invest in 2020

Lucknow offers potential plots, flats, and industrial areas. There are around 20,000 residential areas with tons of places for malls. Gomti Nagar, Shaheed path, BBD, are some of the posh areas that offer good plots for sales in Lucknow, and cheap flats in Lucknow.

Lucknow Development Authority (LDA) holds beneficial housing schemes. These schemes are available for various societies such as LIG, EWS, MIG, BPL, and HIG categories.

If you are looking for cost-effective plots in Lucknow and cheap flat in Lucknow, then you must check out areas like Sultanpur- Lucknow highway, Kisan path, Unnao extension, Sitapur road, Rae Bareli Road, and Barabanki extension. They are not only budget-friendly sites but also have a peaceful, serene ambiance. Also, there is no hindrance to any kind of amenity. Be it conveyance, schools, colleges, offices, malls, restaurants, or hospitals, these areas will connect you to each one of them.

When and How to Invest in Lucknow Real Estate

The best time to invest in Lucknow city is now when it is on the pinnacle of development. You can search for plots for sale in Lucknow or cheap flats in Lucknow and reap good money in the coming days.

Moreover, land properties in Lucknow are affordable, mid-segment, and luxurious making the city the perfect choice for real estate investment.

The maximum apartment rates 2020 in Lucknow are 4,000/sq.ft while the minimum is 1,500/ sq.ft depending upon different areas.

The maximum plots rates 2020 in Lucknow are 26,000/sq.ft while the minimum is 100/sq.ft depending on the size of the plot as well as the area you chose.

Yes, there are numerous brokers, agents, and real estate leaders in Lucknow but for such a big investment you must choose the best amongst them and that being PropLko. Owned by Mr. Satyam Verma, PropLko offers the best real estate service in Lucknow. So when you think of property investment in Lucknow, think PropLko.

Checklist for 2BHK Flats in Lucknow | Affordable & Amazing

 

 

 

Be it a 2bhk flat in Lucknow, a villa, commercial property. Or just a piece of land every real estate commodity calls for a checklist. Since the investment is huge in these areas. The buyers should check each and every aspect of the deal.

Glossy catalogs of rental property are not enough. There may be legal complications attached to it. Buying a property is a crucial decision, one which should not be taken impulsively just because the price is low or the look is good.

Planning to buy a 2bhk flat in Lucknow?

Lucknow city, for instance, is having a surge in demand for apartments. 2bhk flats in Lucknow are the most opted currently. In such a scenario customer often finalize the deal in a rush as they fear losing the property. Such a hasty attitude may prove troublesome for them. Hence I have forged a comprehensive checklist below which details the notions that one should see when buying a 2bhk flat in Lucknow.

Litigation Free Property

The foremost element to check in a 2bhk flat in Lucknow is that it is litigation free. By litigation I mean any lawsuit, any charge laid on the property. See that there are no legal problems attached to the flat and in case there are any, abandon it immediately. Furthermore, if your 2bhk flat in Lucknow is not complete yet then ask for a commencement certificate from the owner/ builder, and if it is a ready- to- move- in kind then demand a completion certificate.

Government Permitted Property

Next, when you buy a 2bhk flat in Lucknow check that it has permission from the government in regards to construction. A government permitted property would be included under the category of ‘buildable’. In a vice versa case where the property does not have the permission of the government, it will be taken as illegal. To know the truth, ask for a sanctioned building plan.

Property Taxes for 2bhk flat in Lucknow

Before finalizing your dream 2bhk flat in Lucknow, it is essential to note all the property taxes levied on it, and its timely payment. Property taxes must be paid regularly to the corporate department. To know that the payment is up to date, ask for receipts from the owner.

Ownership

Talk to the owner of your 2bhk flat in Lucknow, know more about them, and figure it out yourself if they can be trusted. Check the legal documents to decipher that the owner legally owns the building.

Flat Pricing

One must check out the property rates and in fact, compare the best rates to make an informed decision. Add up all the rates like that of carpet area, built-up area, and super built-up area+ taxes+ any other additional cost to get an accurate estimate of the overall cost.

Stamp Duty

Stamp duty is the one that a customer has to pay when buying a flat. Confirm it from the builder beforehand to reveal all the hidden costs necessary in the transaction process. Stamp duty and registration fee must be noted before.

Amenities in 2bhk flat in Lucknow

Well, amenities like basic facilities (electricity, water, etc)+ conveyance+ necessary facilities nearby such as hospitals, schools, grocery stores, medical stores are crucial to check before buying your dream house.

Walls and Spaces

Talking about the inside of your house, check carefully the walls and spaces provided inside. Often owners cheat the customers in reference to space, width, and length of the flat. Therefore measure it yourself that the detail in the catalog match the actual flat.

The moral of the story is that home inspection along with document inspection is significant in buying a real estate property.

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Points to Consider Before Buying Commercial Property in Lucknow

 

 

 

There is no provision of carelessness when it comes to buying your dream house, and so we have PropLko, the best place in Lucknow city to invest in real estate. Be it 1 BHK flats in Lucknow, 2 BHK flats in Lucknow, 3 BHK flats in Lucknow, or any other commercial property in Lucknow, PropLko is the perfect agency to approach. It offers top-quality houses and real estate property as per your needs. The experts from PropLko have summarised some crucial points that one must consider before buying a house in Lucknow. Here goes the list:

Think before buying commercial property in Lucknow

1. The foremost point is to hire a lawyer. An ordinary man is not adept to understand industry jargon such as title deed, land use, approvals from Municipal Corporation, an occupational certificate, etc when it comes to real estate. Also, bank documents, property document require the consultancy of a lawyer.

 

2. It is essential to estimate the overall cost before you buy any commercial property in Lucknow. Further, it can also be 1 BHK flat in Lucknow, 2 BHK flat in Lucknow. Calculate the ownership costs, including parking charges, stamp duty, registration charges, new furniture/furnishings. Although all of it contributes to only 5-20 percent of the base cost of the house, you must rightly invest.

 

How much do you need to be careful?

1.  A careful inspection of the usable area of your commercial property in Lucknow is a must. Understand the final usable area of the apartment, especially when it is under construction. You must choose a liveable place as per your comfort.

 

2. Also when it comes to estimation, do calculate your total cost of running the house.  Herein one must consider property tax, maintenance charges, commuting charges, etc that the property charges. Make sure that your commercial space is cleared from all due before you purchase it.

 

3. Not to forget about the neighbors. Dig in a bit about other occupants, whether they are adjusting in nature, conflict solving and amiable.

 

4. Conveyance and convenience both are important. So check if you have enough amenities near your residence. For instance hospitals, grocery stores, gym, schools, etc are. One must also check if there is enough provision of water, security, electricity, and domestic help

 

5. Think intelligently about the home loan you are eyeing. Check for the best rates in both government and private bank sectors.

 

6. Also, in regards to your investment, ensure that you have a balanced mix of equity, real estate, and debt investment. Both for commercial property in Lucknow as well as the house.

 

7. In Lucknow, you can get amplitudes of residential places from mansions and villas to apartments, flats. So decide according to your needs, family members, and budget.

 

PropLko: Building your Dream Space

 1. The reputation of the owner also makes a big difference and hence, we suggest PropLko where you get quality, cost-effectiveness, and pleasure all in a single check.

 

2. Property insurance matters a lot. It is a good way to safeguard your financial future. It helps to protect your property from any damage that may occur to it. Nowadays, there is no dearth of insurance policies. Consult an expert if you lack an understanding of insurance policies and choose the best one.

 

3. Tax planning is the next necessary component when investing in real estate. Herein you can strategize your tax and monetary expenditure. Purchasing a property in joint names is a good trick. Joint home loans have various benefits. Do not forget stamp duty, which takes quite a lot of money when purchasing a property. Also, include your sales tax and income tax amongst other expenditures.

 

4. The above guidelines suit the purchase of all kinds of commercial property in Lucknow, from 1 BHK flats in Lucknow to2BHK flats in Lucknow and 3 BHK flats in Lucknow. Go through to it well and make a profitable purchase.

Things to know before you sign a Rent Agreement

Keep a Note of these Rental Agreement Precautions before You Sign

Are you a sober tenant? Do you know the complete rental details including security changes, the due date of proving rent and through which medium? Here we attempt to cover everything.

Just like a property owner faces doubts and time crunch in finding a sober and good tenant. The same is the situation being faced by tenants who are seen finding cheap flats in Lucknow who take every step very solemnly and with precaution. After all, it is a matter of staying in a very sober and tension-free manner. And on the other hand, there are also certain measures in which tenants should look to make the rental space or specifically any house in Lucknow a good home to live in (and without any ruckus created by landlords).

Starting up with important stats shared by economictimes.com. India has a bigger appetite with 11.09 million vacant housing units in urban areas. And legal framework with the proposed Model Tenancy Act to help institutionalize the rental housing market that so far remains unorganized.

Of the total vacant housing stock. Around 78% or 8.64 million units are in 10 states and Union Territories (UTs). Currently, there are 21.72 million urban rented households in India. Showed a Knight Frank India and Khaitan and Co Report.

So, if you are searching for a suitable rental space or flats in Lucknow, you need to take more precautions than getting drowned in legal notices. So, here let’s quickly list down the rental agreement precautions rather than curing.

1. Read the Agreement Very Carefully

2. Get a hang of facilities of Society

3. Get everything in written format

4. Purchase renter’s insurance

5. Check with the landlord details

6. Ask for Flat Documents

Let’s discuss these deeply.

1. Read the Agreement Very Carefully

Yes, it is hard-core essential that you read the agreement very carefully. Because of knowing and having a perception of understanding the legal terminology. You can land up in trouble a few months later. If you have any doubt in understanding the clause or legal language used the lease paper. It is well-advised that you have a meeting with some lawyers for your safety.

An expert advice to always keep in mind while owning a house in Lucknow as a tenant that everything should be clear from the beginning.

2. Get a hang of facilities of Society

While coming as tenants in the flats in Lucknow, the person needs to keep a close watch of all the facilities that the society is ready to provide. You need to communicate with your builder or the landowner regarding the charges regarding vehicle parking, occasional use of a clubhouse, swimming pool, in-society maintenance fee or any other which is mentioned in the dotted line. And the owner by chance has missed to discuss with you. While signing the rental agreement you need to be well-opened for any clause or circumstance which the owner has missed to inform you that the Lucknow real estate has to inform you.

So, it is better to keep note of the essentials of a valid lease and act accordingly.

3. Get everything in written format

While you are still understanding about Lucknow real estate properties. You also need to mark that you get every communication and rules from your landlord in written format. To avoid any future disruption or misunderstanding, it is better to keep copies of the original and make photocopies.

For instance, if you ask your landlord to allow an important repair in the house. Then you need to send a letter or an email for the same and ask a positive reply to the message sent by you. Or for instance, if you are approaching a 3BHK flat in Lucknow you need to have everything clear. Because when there will be cases of repair or cases like that. The landlord can easily skip the situation.

4. Purchase renter’s insurance

While reading the lease agreement format shared by your landlord. It is important to make a point that if there are any circumstances of theft of natural destruction on the rented property of a larger property like 3BHK flat in Lucknow. You get full-coverage of renter’s insurance.

5. Check with the landlord details

Before signing a lease agreement, it is mandatory that you know each and every detail regarding your landlord. His full name, his occupation, what type of person he is (if you are getting his contact through a broker). Knowing his full personality to frame what type of person’s property or simply saying a cheap flats in Lucknow you will be going to avail.

Note: If you want a seamless and tension-free stay at your rental space. Call Proplko that will give you better basic amenities and an exclusive lifestyle.

A GUIDE TO BUY RESALE HOUSE IN LUCKNOW

Lucknow, a would-be- metropolitan, is the capital of Uttar Pradesh.  It offers a unique blend of tradition and modernity.

With development on every corner of Lucknow, the city has become a hub of investors. Yes, people, Lucknow is the perfect choice for real estate investment, especially at this time when prices are low. If you are eying a resale house in Lucknow you will find multiple options. Hire a good real estate agent/company and you will be updated with the best areas and prices of resale house in Lucknow. My concern, however, is to guide you about the tips and strategies before buying a resale house in Lucknow so let us start with the basics.

WHAT IS A RESALE PROPERTY

As the name signifies, a resale property is the one that is sold by the same person who was allotted it once. In simple words, when the original buyer of property puts it on sale it is called a resale property.

Buying a resale house in Lucknow or in any other vicinity means that you will save on a lot of money. For instance, there shall be no rent payment+ fewer taxes as compared to properties under construction. Also, resale houses are ready to move in so there is no waiting period.

BENEFITS OF BUYING A RESALE HOUSE IN LUCKNOW

The perks of buying a resale house in Lucknow can be listed as:

Beneficial for salaried individuals as a resale house in Lucknow offers value deals and attractive prices.

One gets to save a significant amount of money by buying a ready-to-shift flat which would have been spent in paying rent, EMI, or on the construction of a new house
The best part is that all the features and amenities are crystal clear. It helps the individual to choose what suits their needs best
The buyer can enjoy tax benefits from the first EMI on immediate possession of the property

POINTS- TO- CONSIDER BEFORE BUYING A RESALE HOUSE IN LUCKNOW

Age of the house- When you buy a resale house in Lucknow check its age, how long has it stood strong. It is advisable not to buy a house with a greater age of 50 years as it will need timely renovation, extensive repairs, and may have structural problems.

Existing mortgage- Check before if there is an existing mortgage on the resale house in Lucknow that you have finalized. Insist on the original documents rather than relying on photocopies. And, in case you are applying for a home loan check the documents carefully with your lender.

Transfer and registration fee- Well this one is expensive. Surely, a resale property is cost-effective but the transfer and registration fee to pay for it can be quite hefty at times.

Brokerage- That is a must. Paying charges to the house broker who introduced you to the house you are purchasing now has to be given accurately. So choose such brokers who have affordable consultancy fees.

Repair and renovation- Well, if you are buying a newly built resale house in Lucknow then you can save on repair charges. But an old house calls for some renovation.
Amenities- Before buying a resale house in Lucknow or any other place it is incumbent to check if there are enough amenities around. Water supply, electricity, proper parking space are just to name some.

STEPS TO BUY A RESALE HOUSE IN LUCKNOW

While the above tips can make your purchase easy and cheap, there are certain steps that you must know before buying a resale house in Lucknow. These include:

Experts’ consultation

Title of a resale house

Documents of a resale house

Appropriate loans

Down payment

To conclude, a resale house in Lucknow is a prospective choice from the perspective of money, area, and comfortable living.

HOW TO BUY FLATS FOR SALE IN LUCKNOW

   

 

                         
Apartments/ flats have become the customer’s preferred choice today. Rather than investing time and effort in constructing a house, people choose a move-in- flat. A flat, often called apartment is a rental unit of a multi-story building. It can be used for the workplace as well as for living purposes.
In this context, Lucknow is a profitable option to invest in. It is situated on the banks of river Gomti and is developing at a rapid rate. From Gomti Nagar, Indira Nagar, BBD, Barabanki extension, Shaheed Path, Sitapur road to butler colony, there are numerous options to avail great flats for sale in Lucknow. In the blog below I have compiled some guidelines that can help you decide how to buy flats in Lucknow so here they are:


LAYOUT

Customers often rely on just the square footage of each room while neglecting how that space is used. When checking flats for sales in Lucknow picture the layout of your apartment, how and where you will like to set the furniture. It would, therefore, require you to check the space between your doors, windows, and other physical features.  Make sure the potential apartment suits your space requirements.

NOISE

When you walk through any flat for sale in Lucknow, take a moment to soak up the environment. Pause and examine if the place is too noisy. Will the nearby sounds intrude on your peace?

PORCH

A porch is a definite area of every customer’s dream house. It gives an outer space, and in some cases an extra space for extra furniture. Hence, look closely at the outdoor patio, outdoor closet, and space to keep your outdoor furniture.

AMENITIES

Useful amenities cannot be neglected. Check the provision of your daily amenities such as electricity supply, water supply, power backups, parking lot, etc.

SAFETY

Whichever flat for sale in Lucknow you finalize make sure it has all-round safety. CCTV cameras, proper security guards should be present. Some places even have a welfare association. Ground floor apartments are more prone to risk so see if the structure of the flat is secure enough.

VIEW

Aha, how can we neglect view? Top floor flats usually offer the best view. Apart from a good view, top floors also offer solitude and can save you from unnecessary disturbance.

ACCESS

Well, in all multi-story buildings there is a provision of lifts. Just make sure they are in working condition, safe and sound.

FAMILY CONSIDERATION

Of course, if you are a family person, you would prefer a family-like ambience. A neighborhood with kids, grandparents, uncles, and aunts will not be a problem. So see to it that you choose such a flat for sale in Lucknow which has a friendly neighborhood.

COMMUTE

Although Lucknow has a good commute system whereby you get transport facilities from everywhere to everywhere in addition to the newly introduced metro, still you must check the commuting facility once. Plan it beforehand that how shall you go to your workplace or how will the kids go to school.

BUDGET

Of course, budget is a significant part of the deal. Compare the prices of flats for sale in Lucknow and then choose the final one. Calculate the overall cost which shall include agent’s fee, down payment, maintenance, and shifting charges. Also, look for appropriate loans.

LEGAL STATUS

In order to cross-check everything, go through the flat’s legal documents very carefully. You may take the help of a lawyer or an expert in this case. Check for the reputation of the owner/ building.

BARGAIN AND OFFERS

Bring out your bargaining skills while buying a flat for sale in Lucknow. This buying and selling process is determined heavily by your bargaining skills so make the most of it.

When you have all of the above tips properly encoded in our mind then you can proceed to buy your dream flat. Good luck!