Shakti Singh, an IT professional on an assignment to his company’s Lucknow office, exclaims how Omaxe Hi Street can be a very profitable product for corporates. Owning hotel suite(s) can not only help them to reduce their workforce hospitality costs but also become an asset class in their investment portfolio generating monthly returns and appreciation.
Omaxe Hi Street, Lucknow
Visiting Lucknow served the dual purpose for Shakti Singh. His family, comprising mother and father, from Sultanpur visit the State Capital (2.5 hr drive) for their monthly check-up at a multi-speciality hospital. For such appointment visits, staying at hotels is a drain on their peace of mind and money. Singh acknowledges that owning a hotel suite can allow him or his family to visit the city at their convenience. He foresees the future where his younger brother could also stay at the hotel suite for his higher studies or job in Lucknow.
Shakti’s savings over the years and with some financial support from his parents will help accumulate the amount necessary for investment in Omaxe Hi Street. A monthly return will supplement his family’s income. With investment starting at Rs. 33.74 lakh, he can enjoy a monthly return of Rs. 33,740/- per month (Less TDS) for five years (terms & conditions apply).
Besides fulfilling his need of staying in a hotel suite on his visits to Lucknow, the monthly return and the pride of owning a return-generating asset in the State Capital are big pluses.
Such ‘fulfilment-of-aspirational-needs’ products are gradually catching up in Lucknow. The city is playing a key role in driving the service sector industry of Uttar Pradesh. The city’s contribution to the State’s GDP is close to 4%, and Uttar Pradesh’s march to $1 trillion economy hinges upon how well Lucknow fares in attracting investment and rejuvenating its urban infrastructure by creating opportunities for planned development. Lucknow’s ability can be gauged from the fact that annual passenger traffic at Chaudhary Charan Singh International airport has risen to 5.5 million (before COVID). The proposed new terminal and expansion of the runway are an indication of how significant Lucknow’s role will be in the years ahead. Several highways, expressways, Outer Ring Road, are also aiding in smooth connectivity and movement.
Omaxe Hi Street on Outer Ring Road and 15-min drive from International Airport is Omaxe’s contribution to the city’s efforts in facilitating a favourable investment climate through real estate spaces that not only suit the business’ interests but also in the ease of living and doing business.
The project is being developed as the new Commercial Business District (CBD) of Lucknow. Spread across 7 acres, the project’s architectural brilliance has ensured that it standouts in the landscape of Lucknow. Its meticulous design will cater to every aspect of trade and business activity in the region like retail – small shops & large anchor stores – hotel suites and co-living spaces, commercial plots, and rejuvenating indulgences. The project has the option for the customer to earn a monthly rental now or keep the hotel suite for self-use or go for the leaseback model wherein he/she can get lease rental from the hotel operator.
The success of real estate development and increasing habitation along Shaheed Path Road, an inner semi-circular ring road in Lucknow connecting Kanpur, Raebareli, Sultanpur, and Faizabad highways, is an example that is worth emulating in Outer Ring Road.
And Raebareli Road, owing to its closeness with International Airport (15 min drive), Railway Station (25 min drive) and Bus Terminal (20 min drive), has caught the attention of investors and developers.
Omaxe Hi Street is a part of the Hi-tech Township Omaxe Metro City on Raebareli Road. Through this township passes Lucknow’s most ambitious road and soon-to-be-operational Outer Ring Road. The ORR encircles the city and crosses five national and six state highways thereby providing connectivity to city outskirts, villages, adjoining cities like Raebareli, Kanpur, Sultanpur, Faizabad, Agra, Hardoi, Sitapur, religious cities like Prayagraj, Varanasi, Ayodhya, and even Delhi.
For Shakti Singh, a drive from his home in Sultanpur will be a cakewalk as he can drive on Sultanpur Road, embark on Outer Ring Road, and within minutes reach his hotel suite in Omaxe Hi Street.
Not just for Shakti Singh but for countless like him, who either live in cities adjoining Lucknow or work in remote locations with an ancestral homes in UP, such ‘fulfilment-of-aspirational-needs’ products in the Capital of Uttar Pradesh is not only a matter of pride but also a new source of regular monthly income.