Ayodhya is UP’s new real estate boom town as Ram Mandir brings investors, land prices soar

Since the Supreme Court verdict, that cleared the construction of Ram Mandir, Ayodhya is riding the wave of a real estate boom. Land prices have soared, land deals have multiplied, hotels, guest houses & infrastructure facilities are being built at breakneck speed. 

While reviewing the development plan for Ayodhya, PM Narendra Modi said the temple town should manifest “the finest of our traditions and the best of our development”. 

According to an official statement Ayodhya’s is to be developed as a spiritual centre, a sustainable smart city, and a global tourism hub. 

Visitors entering the town via National Highway 28 today are greeted by rows of recently planted palm trees. The river fronts are being redeveloped and the roads are being treated.  

Under the influence of Modi government, there has been a big infrastructure push to develop Ayodhya into a “world famous pilgrimage site”. 

In the past 1 ½ years tourist footfall to the temple town has already gone up, especially near major festivities like Ram Navami. Despite COVID restrictions, the temple has drawn staggering a crowd of tourists and pilgrims. 

This progress has brought in a never-seen-before real estate boom to Ayodhya. Property within a 10-km radius of the Ram temple would have price hikes by five to seven per cent annually, but since Supreme Court’s verdict in November 2019, price hike has occurred six times.  

With rising property prices, land transactions have increased by over 200% between 2017-18 and 2020-21.