Ayodhya, believed to be the birthplace of Lord Ram, has been in the headlines since the Supreme Court’s decision in favour of Ram Temple. The temple will finally be inaugurated on January 24 with devotees from far and wide attending the consecration. Every portion and nook of Ayodhya has benefited from the building of the Ram temple. This has also had an impact on Ayodhya’s real estate market. In Ayodhya, the cost of real estate has soared four times. In Ayodhya, real estate prices are rising more than compared to other big cities of Uttar Pradesh.
Property market experts predict that this boom will continue for a while with no signs of slowing down. Local purchasers are investing in real estate in addition to outside investors. Large hotel groups interested in purchasing land here include Taj and Radisson.
A Moneycontrol report, citing research by ANAROCK, says that there has been a huge increase in the prices of land not only around the Ram temple in Ayodhya but also in the outskirts of Ayodhya. In the Faizabad Road region, for instance, the cost of land in 2019 was between Rs 400 and Rs 700 per square foot; by October 2023, it had risen from Rs 1,500 to Rs 3,000 per square foot. In a similar vein, Ayodhya City’s average land costs have risen from Rs 1,000–2,000 per square foot in 2019 to Rs 4,000–6,000 per square foot at present.
In January, Abhinandan Lodha House intends to begin construction on a 25-acre residential plot development project in Ayodhya. Major hotel companies, like Radisson and Taj, also intend to purchase real estate in this area. Everyone’s attention has also been drawn to Ayodhya by the city’s improved infrastructure and the government’s efforts to establish the site as a significant global religious hub, more so after the Ram Temple. Considering the religious importance of Ayodhya, investors are now considering the city as the most profitable place for real estate investment.
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