Ayodhya Temple Town becomes a Real Estate Hotspot!
Within a 10- to 15-kilometer radius of the temple website, prices for residential properties have increased dramatically. Ayodhya, which is located along the banks of the Sarayu River, is quickly becoming a hub for international trade and economic growth. The city’s belongings landscape has seen a profound alteration during the past three years. Ayodhya, which is envisioned as a religious center and a global tourism destination, is also luring high-end financial corridors. Consequently, there have been investments from all around the nation and the world. Additionally, the real estate and infrastructure industries get the most from this money.
Following the Indian Supreme Court’s clearance of the Ram Janmabhoomi Temple, residential real estate costs within a 10- to 15-kilometer radius of the temple have risen.
Once the temple is completed, Ayodhya may anticipate receiving a massive influx of pilgrims. Builders should fight for the first-mover advantage, according to. Builders have been more interested in property parcels with mixed-use characteristics as a result of the need for additional space to accommodate growing numbers of tourists.
Before 2019, working inside the Ayodhya real estate market was no longer financially feasible. The majority of the transactions took on plan characteristics and often went directly between the buyers and sellers. The construction of the international airport and the Ayodhya Mandir has stimulated growth in the city’s real estate market. Large Noida builders are now introducing multi-story apartments in Ayodhya.
Additionally, the government of Uttar Pradesh has made 1,100 acres of land available for residential, commercial, and retail development. Individual builders are interested in purchasing these parcels and launching their projects there.
Within 15 miles of the temple site, the surrounding areas are doing rather well in terms of appreciation, and property prices are growing. The demand for land parcels around the Ram Katha Park and the nearby Bypass Road, which connects the city to important towns like Lucknow, Varanasi, Basti, and Azamgarh, is quite high.
Houses in Theri Bazar and Naya Ghat are also doing incredibly well. Due to the construction of a bus terminal, an international airport, and cruise ship docks, Ayodhya and the surrounding areas are set to become popular tourist destinations.
Analysts are no longer very startled by the above-average increase in Ayodhya home prices over the past three years. They claim that true growth is still to come. Property values in this area are anticipated to be the highest among Indian pilgrimage locations once construction on the Ram Temple is essentially complete. Ayodhya is anticipated to lead real estate expansion for at least ten years, along with Varanasi.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
