Ayodhya real estate Market Boom Before Ram Mandir Opening

By Bricksnwall | 2024-01-06

The erection of the temple has had good effects on the entire city of Ayodhya, resulting in a fourfold increase in real estate prices. 

New Delhi: After the Supreme Court ruled in favour of the Ram Temple's construction, Ayodhya attracted a lot of attention. On January 24, the temple is scheduled to open, attracting followers from different locations.

The erection of the temple has had good effects on the entire city of Ayodhya, resulting in a fourfold increase in real estate prices. The real estate market in Ayodhya is rising at a faster rate than in other major Uttar Pradesh cities.

The specialists in the property market predict that the current boom in the real estate industry will continue indefinitely. Real estate investments are being actively pursued by both foreign and local investors. Prominent hotel companies such as Radisson and Taj have expressed strong interest in purchasing land in this region.

Land prices have significantly increased, not just in the vicinity of Ayodhya's Ram temple but also in the surrounding neighbourhoods. By October 2023, land prices in the Faizabad Road area will have risen from Rs 400?700 per square foot in 2019 to Rs 1,500?3,000 per square foot. According to a Moneycontrol report citing ANAROCK data, average land prices in Ayodhya City have increased from Rs 1,000?2,000 per square foot in 2019 to Rs 4,000?6,000 per square foot today.

In January, Abhinandan Lodha House intends to start building a 25-acre residential development in Ayodhya. Prominent hotel groups, like Taj and Radisson, are also considering real estate investments in the area.

Improved facilities and government efforts to establish Ayodhya as a major worldwide religious centre, particularly following the Ram Temple's construction, have drawn international notice. Owing to its religious importance, investors now see Ayodhya as a very profitable place to make real estate investments.