Ram Mandir Ayodhya: Is It The Right Time To Buy Land In Ayodhya?

Want to buy a piece of land in the divine city of Ayodhya - Ram Janmabhumi but can't make up your mind? Experts say that this may be the right time and occasion to invest in real estate in Ayodhya while Ram Lala comes home after years.

With Ram temple being inaugurated by Prime Minister Narendra Modi, land prices have already jumped 10 folds from before, according to several real estate players and it is expected to remain red hot as Ayodhya becomes one of the greatest hubs for religious tourism.

The construction of the Ram Mandir and associated infrastructure development have attracted investors and contributed to revenue collection in Ayodhya.

This boom in real estate properties in Ayodhya is also wooing investors and industry specialists say that the international airport along with the Ram temple will boost property prices substantially.

A significant hike in land prices not only around the Ram Temple but also on the outskirts is indicated, according to research conducted by ANAROCK.

The average land prices in Ayodhya have jumped to an overwhelming Rs 4,000-6,000 per square foot compared with Rs 1,000-2,000 per square foot in 2019, as per a report by CNBC-TV18.

Once Ram Mandir is open, there is going to be a sharp rise in the number of tourists coming to the holy city which will boost hotel and homestay prices too.

Ayodhya is expected to experience an economic transformation with not only a tourism and business boom but also an expansion of commercial and retail sectors.

The optimism among real estate investors also got a boost about Ayodhya's real estate after Bollywood star Amitabh Bachchan bought a piece of land - 10,000 square feet at a cost of Rs 14.50 crore under the scheme of The House of Abhinandan Lodha (HoABL) Mumbai and the area is a mere 15 minutes distance from the Ram temple. That reflects certainty in the city's economic potential and appreciation for the heritage.

Mumbai-based HOABL has acquired 25 acres of land in Ayodhya and will invest Rs 12 billion to develop a 7-star mixed-use enclave which would host deluxe facilities for buyers with a swimming pool, gym and banquet halls, among other amenities.

Uttar Pradesh Tourism Department data shows that only 3.25 lakh tourists visited Ayodhya in 2021 and the number of pilgrims and tourists increased 85 times to 2.39 crores in 2022, just after the COVID pandemic was over. The numbers are reportedly expected to cross 3.5 crore in 2023. The UP Government predicts that at least 1 lakh pilgrims will visit the holy city every day after the January 22 consecration ceremony, as per reports.

The property prices are on fire in Ayodhya and with upcoming projects from Taj and Lodha groups, the real estate sector is only expected to soar.

Large projects can create employment opportunities, attracting people to the area for work and, consequently, increasing the demand for housing. The focus on infrastructure development can bring about improvements in transportation, utilities, and other essential services. This can make the area more attractive for both residents and businesses.