Real estate in Ayodhya soars fourfold ahead of the opening of Ram Mandir

By Bricksnwall | 2023-12-30

Real estate in Ayodhya soars fourfold ahead of the opening of Ram Mandir

Ayodhya's real estate market is growing as building and facelifts for the impending major event, which will see the who's who of Indian politics and business participating, are underway. Ayodhya's land and property values have tripled, matching those of Uttar Pradesh's larger cities.

Both local land buyers and investors are attracted to this surge. Industry observers predict that prices will continue to rise due to the spotlight and large-scale projects like the Ram Temple and an international airport.

Following the historic 2019 ruling, prices began to rise and are still doing so today. Following a protracted legal struggle, the Supreme Court's decision to support the construction of the Ram Temple in Ayodhya resulted in an unparalleled rise in demand for real estate in the city. The Supreme Court's decision caused real estate values to jump by a startling 25?30% right after the verdict.

An extensive increase in land prices has been seen by ANAROCK, not only in the vicinity of the Ram Temple but also in the outskirts of Ayodhya. For instance, prices in the Faizabad Road region soared from ? 400?700 per square foot in 2019 to an astounding ? 1,500?3,000 per square foot by October 2023. Comparably, average land prices inside city limits have increased dramatically, from ?1,000?2,000 per square foot in 2019 to an astounding ?4,000?6,000 per square foot at this time.

The persistent interest and confidence that investors and purchasers have in Ayodhya's real estate market is shown in the recent spike in property values. The city's attraction has drawn attention to its prospective investment opportunities in addition to its historical and cultural value. Hotel chains and large developers are capitalizing on this trend. 

In January, the House of Abhinandan Lodha intends to begin construction on a 25-acre home site in the Ayodhya district. The new Ram Temple is fifteen minutes away from this project.

Major hotel groups, like Radisson and Taj, also want to open locations in the region. All of this is done to prepare for the anticipated surge of both domestic and foreign visitors in the upcoming months. The city has seen urban development initiatives and infrastructure improvements, which have increased its appeal as a vibrant hub for both residential and commercial

Experts in real estate predict that Ayodhya's real estate market will continue to be strong, providing a wealth of options for investors and stakeholders looking for long-term opportunities in the city.

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