Lucknow
The real estate market in IIM Road presents a compelling mix of established residential hubs and emerging development opportunities. Prices have fluctuated recently, moving from ₹6,550 in late 2025 to a current average of ₹6,000 per sq ft. This volatility highlights a market in transition, offering potential entry points for savvy investors looking at both ready-to-move and under-construction inventory. Rental demand remains steady across surrounding regions, with diverse property types supporting a broad tenant base.
As of June 2026, the average asking price in IIM Road is ₹6,000 per sq ft. This figure reflects a depreciation of 2.65% compared to the previous period, indicating a slight softening in the market demand for residential properties in this locality.
Property prices on IIM Road have shown a mixed trajectory over the last four quarters. As of June 2026, the location rate reached ₹6,450 per sq ft, rising from ₹6,000 per sq ft in March 2026, ₹6,150 per sq ft in December 2025, and ₹6,550 per sq ft in September 2025. This fluctuation suggests a dynamic market where pricing is sensitive to shifting buyer interest and inventory availability.
As of June 2026, villas on IIM Road command a premium with an average price of ₹8,800 per sq ft, which has appreciated significantly by 67.39% over the observed period. In contrast, apartments are more competitively priced at an average of ₹6,450 per sq ft, showing a more moderate appreciation of 7.8%.
As of June 2026, under-construction projects on IIM Road are priced at an average of ₹6,050 per sq ft, while ready-to-move projects average ₹4,950 per sq ft. Both segments have experienced depreciation, with under-construction projects seeing a 16.18% decrease and ready-to-move units seeing a 12.63% decrease compared to previous periods, reflecting a broader correction in the local market.
As of June 2026, Eldeco Twin Towers leads the listing rates on IIM Road at ₹6,600 per sq ft, having appreciated by 1.61%. Other notable projects include Eldeco City Breeze at ₹5,950 per sq ft (depreciated by 0.6%), Shalimar Garden Bay Crown at ₹5,550 per sq ft (depreciated by 21.9%), and Eldeco Latitude 27 at ₹5,450 per sq ft (depreciated by 12.85%). These rates provide a benchmark for buyers evaluating premium versus entry-level project positioning in the area.
Rental rates across major neighbourhoods near IIM Road, such as Aliganj, Faizabad Road, Hazratganj, Indira Nagar, and Butler Colony, currently hover around ₹50 per sq ft. While the rental price is consistent across these areas, the growth trends vary significantly; for instance, Faizabad Road has seen an appreciation of 6.25%, whereas Aliganj has experienced a sharp depreciation of 44% as of June 2026.
IIM Road, with its average asking price of ₹6,000 per sq ft as of June 2026, sits in the mid-range of the Lucknow market. It is more affordable than premium areas like Mahanagar (₹9,850 per sq ft, up 27.17%) and Aliganj (₹9,750 per sq ft, up 4.95%), but commands a higher price point than Faizabad Road rate of ₹3,400 per sq ft (down 25.48%) and Jankipuram Extension at ₹4,150 per sq ft (down 7.02%).
