Hi Friends

Does anyone have any information on the location of Phase 3 Areas/Sectors. Where can we get to see the location/plan of Phase 3 ? Also the rates in Phase 3.
I have land areas next to Phase 2 and am concerned that my farmland can be taken away for Pennies...Can anyone shed some light on the acquisition process at Ansal ?
Does anyone have any idea on rates and Location for Phase 3 ?

Thanks

Sam
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  • I visited Lucknow in last May 2013 and what I saw not even iota of development work was done in any sectors other side of railway track i.e. any sector beyond sector L. Progress in sector G and J was also very slow. Sector M,N,O etc... are just barren land... with one big sign board indicating the sector name. These sectors were launched approx 2 - 3 years back. I guess it will take approx 5 years for phase 2 to become habitable. Phase 3 is after phase 2 and it's not on any highway, so only way to reach there is via phase 2. I guess phase 3 will take at least 10 -15 years before it become habitable. Also last price at which Ansal sold in phase 2 was 21000/- psyd but current resale rate in phase 2 is approx 16000/- psyd and in phase 1 it's between 20,000/- to 25,000/- (souce - RE agents from lucknow). I not sure about condition of the folks booked in phase 2 at 21000/- psyd. So tale account of these facts before investing in phase 3 especially if rate in close to 25000/- psyd.

    I guess before going into hype one need to realize that Lucknow is not commercial hub, It's city of Babus (I mean bureaucrats) who have deep pockets, and they are limited in numbers. Earlier real estate rates in Lucknow were dirt cheap so there was sudden surge, manipulated by developers. But I couldn't sustain for long...

    Jitendra
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  • Originally Posted by jitendraksingh
    I visited Lucknow in last May 2013 and what I saw not even iota of development work was done in any sectors other side of railway track i.e. any sector beyond sector L. Progress in sector G and J was also very slow. Sector M,N,O etc... are just barren land... with one big sign board indicating the sector name. These sectors were launched approx 2 - 3 years back. I guess it will take approx 5 years for phase 2 to become habitable. Phase 3 is after phase 2 and it's not on any highway, so only way to reach there is via phase 2. I guess phase 3 will take at least 10 -15 years before it become habitable. Also last price at which Ansal sold in phase 2 was 21000/- psyd but current resale rate in phase 2 is approx 16000/- psyd and in phase 1 it's between 20,000/- to 25,000/- (souce - RE agents from lucknow). I not sure about condition of the folks booked in phase 2 at 21000/- psyd. So tale account of these facts before investing in phase 3 especially if rate in close to 25000/- psyd.

    I guess before going into hype one need to realize that Lucknow is not commercial hub, It's city of Babus (I mean bureaucrats) who have deep pockets, and they are limited in numbers. Earlier real estate rates in Lucknow were dirt cheap so there was sudden surge, manipulated by developers. But I couldn't sustain for long...

    Jitendra


    Thanks for the update. I think Lucknow RE will crash and burn in the next few year. Your report is testament to the fact that people do not want these areas to be developed, they have just bought these plots for the sake of reselling it at a future time, which probably will never come. Bad times for India, but I would say "I like it", nothing makes me more happy then see a greedy dog lick its wounds.
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