Unlocking the Potential: Outer Ring Road - A Game Changer for Lucknow Real Estate
Introduction:
Lucknow, the capital city of Uttar Pradesh, is witnessing an unprecedented infrastructure boom, making it a trending topic in the real estate market. With improved governance, rapid development, and progressive reforms, Lucknow has become a hub of investment opportunities. Among the various infrastructure projects, the Outer Ring Road stands out as a catalyst for exponential growth in employment, business, and real estate. This blog explores the potential of Lucknow’s Outer Ring Road and its impact on the city’s real estate market.
Outer Ring Road, Lucknow - An Overview:
The planned Lucknow Outer Ring Road is set to improve connectivity and spur sub-cluster development, driving trade, employment, tourism, and real estate growth. This eight-lane circular road, also known as National Highway (NH) 230 or Kisan Path, will be constructed in stages, connecting hundreds of villages.
Spanning 104 km, the Outer Ring Road project is currently under construction and will link 104 villages to Lucknow. Divided into two phases, the road will pass through 43 villages in Lucknow and include Dewa and Nawabganj Tehsils in Barabanki. The project involved the acquisition of approximately 1,500 acres of land from Barabanki and Lucknow districts.
Impact on Lucknow Real Estate:
The Outer Ring Road’s construction presents a plethora of opportunities for builders, homeowners, and businesses alike. It offers an alternate route for commercial trucks, relieving congestion within the city while benefiting the surrounding districts.
The Outer Ring Road intersects six State Highways and five National Highways, indicating significant growth potential. The seamless movement of vehicles across Uttar Pradesh will enhance trade and reduce pollution. As a result, demand for residential developments near the Outer Ring Road, such as Shaheed Path, Faizabad Road, and Kisan Path, has surged by nearly 40% in recent years.
Furthermore, the project includes the construction of bridges, flyovers, and underpasses, ensuring smooth access and exit points. The road will also improve connectivity to Chaudhary Charan Singh International Airport, while an expressway linking Lucknow and Kanpur is in progress. With these developments, Lucknow is set to become a benchmark for real estate growth in the country.
Outer Ring Road - A Real Estate Hotspot in Uttar Pradesh:
Lucknow’s 104-km Outer Ring Road will play a pivotal role in the emergence of sub-cluster development models, mirroring metropolitan cities’ growth patterns.
Uttar Pradesh has witnessed tremendous infrastructure improvement and economic expansion in recent years. The state government’s focus on creating investment opportunities and fostering real estate development aims to transform the state into a 1 trillion dollar economy. As Lucknow, the capital city, expands its horizons, emphasizing self-reliance, ease of doing business, and ease of living, the Outer Ring Road will facilitate sub-cluster development, a characteristic seen in metropolitan cities.
Connectivity via the Outer Ring Road:
The Outer Ring Road will significantly enhance connectivity to various cities, including Varanasi, Prayagraj, Ayodhya, Kanpur, Raebareli, Sultanpur, Sitapur, Agra, Faizabad, and Delhi. Additionally, it will improve access to Chaudhary Charan Singh International Airport, further boosting connectivity.
Employment Opportunities around the Outer Ring Road:
The Outer Ring Road will create a wealth of employment opportunities across various sectors, including government-run businesses, manufacturing, real estate, small-scale industries, and the BFSI and IT/ITeS sectors. Upscale social infrastructure will attract a diverse range of professionals, providing employment opportunities for all income groups.
Other Services around the Outer Ring Road:
A range of essential services and amenities can be found along the Outer Ring Road, including renowned medical facilities such as Apollomedics super specialty hospital, Sahara hospital, Medanta, and esteemed educational institutions like IIM, King George Medical University, and La Martiniere.
Properties Near the Outer Ring Road:
Developers have leveraged digital technology to meet the evolving demands of residents and businesses near the Outer Ring Road. Cutting-edge residential and commercial properties, including group housing plots, floors, villas, commercial centers, food courts, and serviced apartments, are being offered to cater to the diverse needs of the market.
Conclusion:
Lucknow’s Outer Ring Road is set to revolutionize the city’s real estate landscape, offering immense potential for employment, business, and residential growth. As infrastructure projects take shape and connectivity improves, Lucknow is poised to become a thriving real estate hotspot in Uttar Pradesh. Investors, developers, and homebuyers can seize the opportunities presented by the Outer Ring Road and witness the transformation of Lucknow into a vibrant and prosperous city.