Gradually even the lesser modernized cities in India also
felt the impact of globalization and industrial surge. This was quite a welcome
approach. All said and done but the prominent cities of the country already had
the scarcity of open spaces therefore urbanization underwent breakthrough
progress in the lesser ones. There were many PSUs and corporate offices in
Lucknow growing rampantly. Immovable properties were sold like hot
cakes in the city. Builders, contractors and development authority of the city
were just after vacant lands. People came into the affair of selling and
purchasing of lands and buildings and thus there was a thrust in the real
estate industry of Lucknow.
Although this is one such sector that stands next to
agriculture in revenue generation but in the last two years it experienced a
steep downfall. Parts of the reasons that can be cited are protests from the
farmers, delayed government clearances and deviation of fresh graduates to
other job opportunities. However, with the intense commercialization taking
place around the city the top
Indian real estate organization could not keep itself isolated. It
entered with the mission and vision of availing not only commercial houses but
also with the intention of providing residential apartments and flats. Upon
seeing the surging modernization people came forth to make investments on
properties either for resale or to put them at rent.
There was much retail
development taking place in this industry. Properties were drawing the
attention of the people even from the overseas possibly for their comebacks or
into the business. Eventually the working people could find shelters under the
roofs of the flats and apartments. This endeavor finally culminated into the
affairs of offering odd jobs to the people dwelling in the slums. They could be
hired for the post of maids, servants and other housekeeping staffs. Perhaps
this was the secondary advantage of the prospering real estate industry.
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