Prices of land there increased by four times
even before the opening of Ram Mandir.
But, is it the right time to invest in Ayodhya?
Devotees are pouring in just after the opening of the Ram Mandir in Ayodhya. Realty businessmen have focused on this spiritual city as there is a possibility of further development of the area in terms of tourism. Compared to other major cities in Uttar Pradesh, the real estate market in Ayodhya is increasing significantly. It is said that the prices of land there have already increased four times. Apart from the locals, people from other parts of the country are also showing interest in buying land in Ayodhya. As a result, land prices have skyrocketed not only in the city but also in the suburbs.
In Ayodhya city in 2019, the price of a square foot of land was between Rs. 1000 and Rs. 2000. Now it is Rs. 6,000. Also, land prices in the suburbs, which were around Rs. 700, have increased to Rs. 3,000. With the opening of the Ayodhya Ram Mandir, the number of tourists coming every year is expected to increase significantly. According to UP Tourism statistics, Ayodhya received only 3.25 lakh tourists in 2021, but in 2022, their numbers increased by 85 times to 2.39 crore. Now that the temple has opened, the UP government hopes that the number of pilgrims visiting Ayodhya every day will be more than one lakh. Many townships and private hotels are already coming up in the city. The government has also granted land for this purpose. Most popular hotels like Taj, Radisson, and ITC have focused on buying land in Ayodhya. Also, experts argue that if the infrastructure is well developed there, tourists who come there will be able to stay for a few more days, which will help increase business activities in Ayodhya. It is said that it will also benefit the economy.
It is said that if new malls and other tourist attractions come, tourists will be interested in staying there for a longer period. It is explained that small housing units, managed hall homes, and senior living will increase the demand. Especially holiday homes, senior living, and wellness centres are expected to be in demand. Pilgrims who come to Ayodhya can stay for two to seven days, hence the mushrooming of holiday homes there. Some investors are said to be thinking of renting them out for income. In this regard, it is being determined that many people are likely to favour real estate investments in Ayodhya. Chauda Kosi Parikrama, Ring Road, Deokali, and Naya Ghat are the best places to invest in Ayodhya. It is explained that these are five to 15 kilometres away from the temple. Also, it is said that high investment activity is seen in the lands on the Gorakhpur-Faizabad highway.
