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Rental Property in Lucknow

Lucknow is an excellent place that provides world-class facility even in terms of rental property in Lucknow. A city that has several traditional aspect attached to it, is a popular place to live in. It also has a matured real estate market that combines traditional homes with modern amenities and facilities. Having a strong garment and trading industry, Lucknow has pestered many to look forward to make a stay. The financial institutions and also the educational market have increased the number of people who avail rental accommodations in Lucknow city and fringe areas. 


Rental market in Lucknow

The economy of Lucknow provides a glimpse into how and why the residential and commercial rental properties in Lucknow are experiencing a surge. According to observation, immigration of people into Lucknow in the last 10-years has added a great number to the already existing population. This is one reason why the demand for housing rose drastically. Real estate investments soared even as there were less people who opted for the luxury accommodations. The old ‘Nawabi’ houses soon began converting into hotels and residential plazas that were part of heritage living in Luknow. Foreigners rented houses in Lucknow to experience the British architecture and even the Nawabi Rule in India that lasted for decades.
Because of popularity alone, the heritage rental homes in Lucknow became expensive with time. Whereas, other rental homes in Lucknow were moderately priced. Those relocating to Lucknow with their families for the sake of trade and business, found it difficult to afford ownership homes and instead turned to rental property in Lucknow for a budget living. 
Withy the rising cost of properties in Lucknow, the rental value has also increased steadily. Though it was not a big jump at a time, yet the rental rates in Lucknow underwent tremendous change. 
According to market rates, in 2008-09 the rents in Lucknow at Sahara Ganj on Shah Najaf Road and Gomti Nagar  Rs 110 to Rs 160 per square feet. In Alambagh, Aminabad, and Kaiser Bagh, the rental commercial properties are available at anything between Rs. 70 and Rs. 100 per square feet per month. However, properties in Gol Market, Mahanagar and Charbagh are available at a lower rental value of Rs 30 to Rs 50 per square feet per month both for commercial and residential rental property in Lucknow. These areas were particularly demarcated as place where rental property in Lucknow is easily available as well. If you are new to the city and unaware of the rental zones in Lucknow, look into these places first. 

Rental values in Lucknow

Take a look at the chart below to have an idea of the rental rates throughout Lucknow city. The prices stated here are rental estimates for the particular area.
Places Prices of rooms
East Rs 4,000- Rs 11,000
West Rs 5,000- Rs 10,000
North Rs 5,000 onwards for 2 BHK flats
South Rs 4,500 onwards