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Omaxe, one of India's leading real estate companies, has launched hotel suites and retail spaces Omaxe Hi Street in Lucknow.Such 'fulfilment-of-aspirational-needs' products are gradually catching up amongst investors in Uttar Pradesh. The project's location, on the soon-to-be-operational Outer Ring Road (ORR) - a 104 KM road that encircles the city, will help bring people, businesses and goods from various parts of Uttar Pradesh.Lucknow 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 USD 1 trillion economy hinges upon how well Lucknow fares in attracting investment and rejuvenating its urban infrastructure by creating opportunities for a 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 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 the 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 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 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 lease back model wherein he/she can get lease rental from the hotel operator.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.Visiting Lucknow serves 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 owing a return-generating asset in the State Capital are big pluses.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 ancestral home 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.This story is provided by NewsVoir.will not be responsible in any way for the content of this article. (ANI/NewsVoir)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Omaxe, one of India's leading real estate companies, has launched hotel suites and retail spaces Omaxe Hi Street in Lucknow. ...