Bounce Back of a #realestate #industry in #Lucknow

LUCKNOW:Waking up from a long spell of dullness, the real estate market in Lucknow city showed clear signs of recovery with the Stamps and Registrations department recording a growth rate of 72 per cent in revenue till Jan this year against the 41 per cent growth rate for the corresponding period during last financial year (CPLY). The office of the district registrar realised Rs 223 crore in terms of registration fee and various taxes against the target of Rs 298 crore as on Jan 31 for the current fiscal.

The real estate market in Lucknow hit rock bottom during the past couple of years due to agitations against state bifurcation, followed by elections and other uncertainties in the state, leaving investors hesitant to purchase plots and flats in Lucknow and other parts of the state. However, the improvement of the political atmosphere and a stable administration now, coupled with the hype over the development of the Heritage City into a smart city helped in the revival of the market.

“The inquiries are translating into real transactions and registrations, after the focus shifted from Delhi/NCR to Lucknow after bifurcation. Thus, we have witnessed growth in the registrations at all the Five sub-registrar offices that comprise Lucknow registration district covering the city and the neighboring

areas in 2014-15,” said the officials at the District Registrar Office.

The annual target for the five registration offices constituting Lucknow registration district is Rs 335.1 crore and the revenue collection till January 31 is Rs 298 crore. Of this, the officials could realise the revenue of Rs 247 crore recording a growth rate of 72 per cent as against 41 per cent CPLY. Even when compared to the annual revenue target, the revenue realised so far forms 45 per cent of the annual target.

Realtors point out that areas like Faizabad Rd, Sultanpur Rd, Sitapur Rd and Raibareily Rd continue to attract the maximum attention of the investors. “The market is really picking up and serious buyers are purchasing properties. We are expecting a steep growth in the city and peripheral areas during the next six to eight months,” said Mayur Raj Kapoor, chairman & Director Money Bricks..

Comments

BRIKitt Stays Booking FAQ's

HOW MUCH TIME WILL I HAVE IN MY HOME EACH YEAR? Your access depends on the number of BRIKs you own. Each BRIKs includes 30 stay nights, and they are tracked on a 365-day basis. For example, if your ownership anniversary date is October 20, 2020, we’d count the total number of stayed nights between October 21, 2020, and October 20, 2021. WHAT IF I WANT TO ENJOY MORE STAYS IN MY HOME? As a benefit to owners, you are invited to enjoy stay nights that exceed your annual stay night threshold of 30 nights, pending home availability. A modest nightly operating fee is assessed to cover operating and ownership costs. The fee is used to offset costs for other owners, and there is no markup added. Owners will find rates to be dramatically less than booking a similar, non-Brikitt home. HOW DOES THE BOOKING APP WORK? The BRIK Owners app is powered by our AI based smart booking system. It’s easy to use and equitable for owners based on their number of BRIKs owned. The app displays real-time availabi...

Top 5 Reasons, Why you should buy BRIKitt Homes

Everyone loves #RealEstate but have limitations in terms of choices and budget constraints as it's an expensive affair. If we think about creating a diversify portfolio and owning multiple properties at most demanding and desired locations one has to be a millionaire first right? But that's not the case anymore with #BRIKitt. BRIKitt gives an equall opportunity to people from all the spehere from life to buy and create diversify real estate portfolio and co own most desired asset class at Most happening and growing locations all across the globe with its unique and first of its kind techdriven #BRIK model. So here are the top 5 reasons why you should buy BRIKitt Homes as a part of your investment portfolio to create long term wealth and passive income. 1 ) Low aqquisition cost - Price and affordability are the two major factor in buying any real estate asset as it's expensive and come with huge ticket size. But BRIKitt gives u an opportunity to choose from different set o...

BRIK ITT- Power of Fractional Ownership in Real Estate

Fractional ownership is the best kind of ownership if you want to invest in your future , family and financial purposes. Fractional ownership in Single Family Residences has the highest opportunity to appreciate in value. This is because in the future buyers may want to buy the home as a primary home. www.brikitt.com a subsidary of Money Bricks a decade old Real Estate player in India is changing the trends in Luxury Residential Real Estate Market in India with their unique Brik Model which allows one to co-own Luxurious skybunglows, Pent Houses , Villas and Vacational Homes at a fraction of its cost and earn high rentals on their investment through there fully manage and operated property business model. A Brik is a 1/11 fraction of the property which allows you to use the property or earn rental income for 30days/year. Few key benefits of this unique Brik Model which makes Fractional Ownership more powerful then any other in the Market are: 1) Power to Earn - By owning a Brik y...

MONEY BRICKS

Search This Blog