Where to earn high rental yield in Lucknow

Lucknow is one of those fewer cities where not just residents but investors from outside city premises purchase properties in the hope to earn higher return on investments. Gomti Nagar and Gomti Nagar Extension Road are such areas.

Most of the young population of the city has migrated to other parts of the country and working in metropolitans. However, when it comes to investment, they prefer the city for various purposes.

Some buy for their parents, some feel assured to invest in a city where they know people who can keep a tab on it. While others plan to return to their native hometowns after working for a specified time period. Whatever maybe the reason, Lucknow has many investors with the intention to earn money in future.

According to Magicbricks data, the top localities which can fetch you higher rental yields include Gomti Nagar and Gomti Nagar Extension Road. One of the crucial factors for any locality to be enable to provide higher rental income is their infrastructure.

The residents or the people who work in the areas are the best people to provide untarnished ranking and ratings. Magicbricks readers belonging to these localities compared it with a total of 280 localities and ranked them subsequently. Gomti Nagar has a developed social and physical infrastructure, while the latter is undergoing transformation.

How much can you earn?

Gomti Nagar and Gomti Nagar Extension Road are two localities with a stable rental yield graph. Rental yield rep resents annual return from renting your house in that locality. Among the localities in Lucknow that have shown a high growth in rental yield in the past nine months, Gomti Nagar tops the list with 3.1 percent growth, followed by Gomti Nagar Extension Road with 1.9 percent growth.

Businessmen, people working in the local offices, and investors are buying properties or renting in these areas.

Rajat Awasthi, a resident of the locality says, “I have had a nice experience living in Gomti Nagar. This is one of the best localities in Lucknow. It is well-connected with prominent places in Lucknow. It is peaceful and green also. Janeshwar Misra Park and Lohia Park is exiting advantage for residents.”

Apart from consumer comments and higher rental yields, the locality has sound infrastructure which is why consumers prefer these areas. Gomti Nagar is now home to the Lucknow High Court.

This development has boosted its property prices. An upcoming international stadium will also prove to be of a great advantage. Investors looking to invest should do so now as property prices are already escalating.

Its connectivity, road network, social infra structure (markets, schools, hospitals, banks, etc) are also well-developed. Shaheed Path and Faizabad Road are easily accessible.

Gomti Nagar Extension is in a development phase. Roads and physical infrastructure are also being constructed.

The metro rail project will also boost its connectivity majorly.

So, where are you investing?