Rising Real Estate Trends in Ayodhya
With the impending inauguration of Ram Mandir, set for January 24, Ayodhya has seen a significant surge in real estate and property prices. This increase has been particularly notable since the Supreme Court’s decision that favored the construction of the Ram Mandir, believed to be the birthplace of Lord Ram. The real estate market in Ayodhya is experiencing unprecedented growth, with property prices quadrupling, outpacing other major cities in Uttar Pradesh.
Impact of Ram Mandir Inauguration on the Local Economy
The construction of Ram Mandir has positively impacted every area of Ayodhya, leading to a booming real estate market. Experts in the property market anticipate this upward trend to continue without any signs of slowing down. The boom is attracting not only local buyers but also external investors, with major hotel chains like Taj and Radisson showing interest in acquiring land in Ayodhya.
Surge in Land Prices
A report by Moneycontrol, referencing ANAROCK’s research, highlights a significant rise in land prices not just around the Ram Mandir but also on the outskirts of Ayodhya. For example, in the Faizabad Road region, land prices have escalated from Rs 400-700 per square foot in 2019 to Rs 1,500-3,000 per square foot by October 2023. Similarly, average land costs in Ayodhya City have risen from Rs 1,000-2,000 per square foot in 2019 to a staggering Rs 4,000-6,000 per square foot currently.
Future Developments and Investments
In January, Abhinandan Lodha House is set to commence a large-scale residential project on a 25-acre plot in Ayodhya. Renowned hotel brands like Radisson and Taj are also planning to invest in the area. The improved infrastructure in Ayodhya and the government’s initiatives to establish it as a major global religious destination, especially after the construction of the Ram Mandir, are drawing widespread attention. Given Ayodhya’s religious significance, investors now view the city as one of the most profitable places for real estate investment.
