Ayodhya's Real Estate Boom: A Divine Investment Opportunity
Ayodhya, the revered birthplace of Lord Ram, is experiencing an unprecedented transformation. With the highly anticipated Ram Mandir nearing completion, the city is witnessing a surge in infrastructure development and a corresponding real estate boom. Property values have skyrocketed, increasing up to three times their original value due to the influx of investors, hoteliers, and entrepreneurs.
Scarcity Drives Demand
The scarcity of available land in Ayodhya has further fueled this real estate frenzy. "Ayodhya does not have any new land available," reveals real estate broker Kakku Singh. Even in the city's periphery, land prices have doubled, ranging from Rs 6,000 to Rs 7,000, compared to the previous average of Rs 3,000. Land near the Ram Mandir itself commands exorbitant prices, with Singh stating, "There is no land around the Ram Mandir. If there is, it has no rate. One can obtain anything they desire."
Sales Figures Soar
Property sales in Ayodhya have witnessed an astounding increase. Over 9,000 houses were sold as of November last year, and this number has more than doubled this year, with over 20,067 properties sold to date. As the inauguration date approaches, prices continue to climb. This has generated significant revenue for the government. The Stamp & Registration Department's revenue has increased from approximately Rs 10,000 lakh in 2018-19 to Rs 15,631.33 lakh as of November, representing a remarkable 109% increase, the highest in the state.
Assistant Commissioner Yogendra Pratap attributes this revenue surge to the increased demand, stating, "I get calls from people looking to purchase land to open resorts and hotels. Therefore, this has increased the revenue of the Stamp Department.”
Hope and Opportunity for Locals
Local residents are optimistic that this investment will attract tourists and provide employment opportunities. Rajjan Lal, who lives 40 km from Ayodhya, exemplifies this optimism. He sold his village property and purchased a 1,000-square-foot plot near Ayodhya to open a cement shop. "There is a possibility of earning a decent living because of the temple construction. Though the rates are also high, I will do business here," he explained.
Government Initiatives Boost Infrastructure
The government is actively contributing to the development with plans for a 4.40-acre tourism facilitation center, budgeted at Rs 130 crore. This project will feature various commercial establishments, including a tourist office, accommodation facilities, a food court, a shopping center, an art and craft center, and ample parking space. Furthermore, Union Aviation Minister Jyotiraditya Scindia has indicated that the Ayodhya International Airport is expected to be operational by the end of this month.
These developments signal a promising future for Ayodhya, transforming it into a thriving hub for tourism, commerce, and real estate investment.