Ayodhya Real Estate Booms Ahead Of Ram Mandir Inauguration

New Delhi: Ayodhya gained significant attention following the Supreme Court's decision favoring the construction of the Ram Temple. The temple is set to be inaugurated on January 24, drawing devotees from various places.

The entire city of Ayodhya has experienced positive impacts due to the temple construction, leading to a fourfold increase in real estate prices. Ayodhya's real estate market is witnessing a more substantial rise compared to other major cities in Uttar Pradesh.

The current surge in the real estate sector is expected to persist without any indications of a slowdown, according to the property market experts. Both local buyers and external investors are actively participating in real estate investments. Noteworthy hotel chains like Taj and Radisson have shown keen interest in acquiring land in this area. (Also Read: NPCI Directs Members To Increase UPI Transfer Limit By January 10)

There has been a substantial surge in land prices not only in the locality of the Ram temple in Ayodhya but also in the outskirts areas. In the Faizabad Road region land costs increased from Rs 400–700 per square foot in 2019 to Rs 1,500–3,000 per square foot by October 2023. Similarly, average land prices in Ayodhya City rose from Rs 1,000–2,000 per square foot in 2019 to Rs 4,000–6,000 per square foot presently, according to a Moneycontrol report referencing ANAROCK research.

Abhinandan Lodha House plans to commence construction on a 25-acre residential project in Ayodhya during January. Leading hotel chains such as Radisson and Taj are also looking to invest in real estate in the region.

The enhanced infrastructure and government initiatives to position Ayodhya as a prominent global religious hub, especially after the construction of the Ram Temple has captured widespread attention. Given Ayodhya's religious significance, investors now view the city as a highly lucrative destination for real estate investments.