Sultanpur Road becomes the new real estate hub in Lucknow

LUCKNOW: With the Sultanpur Road becoming the new growth centre due to the proposed IT city, IIIT campus and international stadium, realtors are thronging to meet the demand for housing in the area.

Proposing to invest Rs 1,400 crore in real estate development over the next six years, Paarth Infrabuild has started work on Aadyant group housing project in Gomti Nagar extension area near Sultanpur Road to cater to the needs of professionals who would be working in the vicinity.

With over 20 years of experience in urban planning and civil engineering, Paarth Infrabuild Ltd, Director Pradeep Misra said "this is the new growth centre of Lucknow and we propose to offer world class living standards to professionals who would be settling here. We have executed projects for government agencies and big real estate players across the country and also in Sri Lanka and would offer unmatched quality and living standards at Aadyant".

He said that they already have in place 27 acres of land in Gomti Nagar Extension free from all incumbrances, which besides the apartment project would also have hotels, commercial complexes and a hospital. The group is committed to development of 4 million square feet of space in Lucknow and has already tied up funds to the tune of Rs 100 crore.

Pradeep Misra said that Paarth Infrabuild Ltd is targeting a turnover of Rs 500 crore within the next five years and would also be taking up projects in Noida, Kanpur, Allahabad and Varanasi. He said that the group is also executing government redevelopment projects in Old Delhi, Bikaner and Cuttack.

Apart from Paarth Infrabuild, other real estate majors executing projects in and around Sultanpur Road are Omaxe and Ansal API.