Infra, real estate boom ahead of opening of Ram Temple in Ayodhya
Ayodhya, 12 Dec (HS): With the inauguration of the long-awaited Ram Mandir just weeks away, Ayodhya is undergoing significant infrastructure upgrades, leading to a surge in real estate activity. The city, once considered quiet, is now experiencing a real estate boom with property values witnessing a remarkable increase. Investors, hotels, and business owners are rushing to the area, causing property values to soar up to three times their original price.
Local real estate agents note that there is currently no available land in Ayodhya. “There is no land available in Ayodhya right now,” stated property trader Kakku Singh. He continued, “Outer locations, where tariffs should have been approximately ?3,000… The charges have risen to between ?6,000 and ?7,000. There is no land around the Ram Mandir… if there is, no one is willing to sell… Anyone can get whatever they want.”
According to data from Ayodhya’s Stamp and Registration Department, the number of homes sold in 2018-19 till November was around 9,000. This figure has more than doubled this year, with 20,067 homes sold till November. Prices have been steadily rising as the inauguration date approaches. The department’s income has seen a substantial increase, reaching ?15,631.33 lakh as of November this year, up from approximately 10,000 lakh in 2018-19. The Department’s revenue receipts witnessed a 109% increase in November, making it the highest in the state.
Yogendra Pratap, Assistant Commissioner of the Stamp & Registration Department, mentioned, “I get calls from people who want to acquire land to build hotels and resorts… As a result, the Stamp Department’s revenue has grown.” Locals anticipate that this investment influx will attract tourists, providing a significant source of income for many in the region.
Impact on MSMEs and Businesses: The real estate boom in Ayodhya signifies potential opportunities for MSMEs and businesses, especially those in the hospitality and tourism sectors. Entrepreneurs looking to invest in hotels, resorts, or related services in Ayodhya might find a favorable market environment. Additionally, businesses involved in construction, real estate development, and allied services could explore partnerships or expansions in response to the increased demand in the region.
