Ayodhya RE booms as Ram Mandir inauguration nears, prices soar 4 times
Real Estate

Ayodhya RE booms as Ram Mandir inauguration nears, prices soar 4 times

As the inauguration date of the Ram Mandir in Ayodhya approaches, real estate prices in the town are experiencing a significant surge. According to a report, the ongoing infrastructure development in Ayodhya is driving up property values, with an anticipation of numerous hotels and residential projects flourishing in the town post the Ram Mandir inauguration. The report reveals instances where prices have inflated by 4 to 10 times compared to the period five years ago.

Ayodhya is set to become Uttar Pradesh's 5th international airport, following Lucknow, Varanasi, Noida (under construction), and Kushinagar. This airport is expected to establish global connectivity for the town, adding to its appeal for developers who recognise the immense potential linked to its religious significance.

The town is poised for the establishment of various townships and privately owned hotels, with the government having approved the allocated land. Satyendra Singh, the secretary of Ayodhya Development Authority, mentioned that almost 95% of the land has been acquired, and the development will be situated along the Lucknow-Gorakhpur highway, according to Hindustan Times Digital.

The real estate boom in Ayodhya gained momentum after Prime Minister Narendra Modi laid the foundation stone for the Ram Mandir in August 2020. Subsequent to the commencement of the Ram Mandir construction, Uttar Pradesh initiated substantial infrastructure development in Ayodhya, transforming it into an appealing destination for investors. Some reports indicate that Ayodhya achieved the highest revenue collection in Uttar Pradesh in November, particularly concerning income generated from land registration.

A broker named Parasuram Mishra, quoted in the report, reveals that property prices within a 5-10 km radius of the Ram Mandir have surged dramatically, ranging from Rs 2,000 per sq ft to as high as Rs 18,000 per sq ft. Mishra illustrates the drastic increase by citing an example of one biswa of land, approximately 1,350 sq ft, which was previously available for a few lakh rupees but now commands a price of Rs 60 lakh.

As the inauguration date of the Ram Mandir in Ayodhya approaches, real estate prices in the town are experiencing a significant surge. According to a report, the ongoing infrastructure development in Ayodhya is driving up property values, with an anticipation of numerous hotels and residential projects flourishing in the town post the Ram Mandir inauguration. The report reveals instances where prices have inflated by 4 to 10 times compared to the period five years ago. Ayodhya is set to become Uttar Pradesh's 5th international airport, following Lucknow, Varanasi, Noida (under construction), and Kushinagar. This airport is expected to establish global connectivity for the town, adding to its appeal for developers who recognise the immense potential linked to its religious significance. The town is poised for the establishment of various townships and privately owned hotels, with the government having approved the allocated land. Satyendra Singh, the secretary of Ayodhya Development Authority, mentioned that almost 95% of the land has been acquired, and the development will be situated along the Lucknow-Gorakhpur highway, according to Hindustan Times Digital. The real estate boom in Ayodhya gained momentum after Prime Minister Narendra Modi laid the foundation stone for the Ram Mandir in August 2020. Subsequent to the commencement of the Ram Mandir construction, Uttar Pradesh initiated substantial infrastructure development in Ayodhya, transforming it into an appealing destination for investors. Some reports indicate that Ayodhya achieved the highest revenue collection in Uttar Pradesh in November, particularly concerning income generated from land registration. A broker named Parasuram Mishra, quoted in the report, reveals that property prices within a 5-10 km radius of the Ram Mandir have surged dramatically, ranging from Rs 2,000 per sq ft to as high as Rs 18,000 per sq ft. Mishra illustrates the drastic increase by citing an example of one biswa of land, approximately 1,350 sq ft, which was previously available for a few lakh rupees but now commands a price of Rs 60 lakh.

Next Story
Infrastructure Urban

Patel Engineering Secures Two Projects Worth Rs 20.37 Billion

Patel Engineering Ltd has secured two important infrastructure projects valued at Rs 20.37 billion. The company received an order from the City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) for dam construction and associated works in Maharashtra. The project will be executed over a period of 42 months. Another project, awarded by the North Eastern Electric Power Corporation Ltd (NEEPCO), involves the development of a 240 MW hydropower project in Arunachal Pradesh. The project scope includes civil construction, testing, commissioning, and installation of hydro-mechanical e..

Next Story
Infrastructure Urban

M B Patil Seeks Centre’s Support For Karnataka’s Industrial Growth

Karnataka’s Minister for Large and Medium Industries M B Patil has urged the central government to support the state in strengthening freight corridors and logistic infrastructure. He was speaking at a round table on ‘Focussing on the Steel Sector in the State of Karnataka’ during the 6th edition of India Steel-25, an International Conference-cum-Exhibition organised by the Ministry of Steel. Patil highlighted Karnataka’s contribution of 15 per cent to India’s steel production and the efforts by the state government to promote cluster-based development, integrated industrial corrido..

Next Story
Infrastructure Energy

EdgePoint Towers Launches First Solar Hybrid Telecommunications Site

EdgePoint Towers Sdn Bhd, part of EdgePoint Infrastructure, has launched its first solar hybrid site in Malaysia, advancing renewable energy integration in the telecommunications sector. The deployment marks a major step towards sustainable energy solutions, providing up to 100 per cent of the energy required to operate telecommunications equipment. The site, with a 5.9-kilowatt peak (kWp) capacity, operates autonomously using photovoltaic energy supported by battery storage. This hybrid system significantly reduces dependence on diesel fuel, aiming to cut annual carbon emissions by around 78..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?