Highlights

  • Ayodhya real estate prices surge ahead of Ram Mandir inauguration.
  • Legal verification crucial; infrastructure and future plans pivotal factors.

Latest news

Russia’s Putin warns West against risk of nuclear war: ‘We also have weapons’

Russia’s Putin warns West against risk of nuclear war: ‘We also have weapons’

Videographer shot dead in Bihar after battery runs out during birthday celebration

Videographer shot dead in Bihar after battery runs out during birthday celebration

Hours after Stephen Baldwin seeks prayers for Justin-Hailey, couple spotted at Church

Hours after Stephen Baldwin seeks prayers for Justin-Hailey, couple spotted at Church

Wordle 986 Hints and Answer for March 1, 2024: Clues to decipher today’s puzzle with ease

Wordle 986 Hints and Answer for March 1, 2024: Clues to decipher today’s puzzle with ease

Gold, Silver Price Today March 01, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

Gold, Silver Price Today March 01, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

Paytm agrees to discontinue various inter-company agreements with Paytm Payments Bank

Paytm agrees to discontinue various inter-company agreements with Paytm Payments Bank

Quordle 767 Hints and Answers for March 1, 2024: Guide to improving concentration via word games

Quordle 767 Hints and Answers for March 1, 2024: Guide to improving concentration via word games

Woman paraded nude in Karnataka's Belagavi district

Woman paraded nude in Karnataka's Belagavi district

Ram Mandir inauguration: Amid surge in prices experts ask buyers to remain cautious while buying property

Property prices in Ayodhya have witnessed a substantial surge since 2019. Initially estimated at ₹400-700 per sq. ft. on the outskirts and ₹1,000 – 2,000 per sq. ft. within the city limits, prices have soared to ₹1,500-3,000 per sq. ft.

Ram Mandir inauguration: Amid surge in prices experts ask buyers to remain cautious while buying property

As the much-awaited inauguration of the Ram Mandir in Ayodhya approaches, the town is witnessing a surge in interest among real estate investors, hoteliers, and individuals eyeing property investments in this religiously significant destination.

With the consecration ceremony set for January 22, 2024, real estate agents note a substantial increase in demand for land parcels, resulting in escalated prices. The interest spans across the nation and even attracts non-resident Indians, along with senior citizens seeking investment opportunities in second homes.

Anuj Puri, Chairman of ANAROCK Group, highlighted the escalating real estate demand, stating that the Supreme Court's 2019 verdict had triggered a significant surge in interest, not just among locals but also from external investors, including businesspersons.

Property prices in Ayodhya have witnessed a substantial surge since 2019. Initially estimated at ₹400-700 per sq. ft. on the outskirts and ₹1,000 – 2,000 per sq. ft. within the city limits, prices have soared to ₹1,500-3,000 per sq. ft. outside and ₹4,000-6,000 per sq. ft. within the city as of October 2023.

Legal experts caution prospective buyers to rigorously verify property title and ownership documents to evade potential disputes or legal entanglements.

For those considering property investments in Ayodhya, several crucial factors require attention. First, checking local zoning laws and regulations to confirm permissible land use is vital, considering possible restrictions due to historical and religious importance. Mona Dewan from ZEUS Law Associates emphasizes thorough due diligence regarding property-related regulations, usage, and development norms.

Assessing existing infrastructure and future development plans is equally crucial. Evaluating water supply, electricity, sewage systems, connectivity to major roads, and public transportation hubs is imperative for understanding a property's value and growth potential.

Pankaj Kapoor of Liases Foras anticipates immediate commercial real estate opportunities with hotel developments. However, housing projects might take time, contingent on the floating population of religious tourists seeking second homes.

Ayodhya's future also holds promise for townships and private hotels along Chaudah Kosi Parikrama, Ring Road, and Lucknow-Gorakhpur Highway. The Ayodhya Development Authority plans an 80-acre plotted housing scheme, while developers like HOABL aim to launch projects post-temple inauguration.

Moreover, real estate bodies such as NAREDCO foresee Ayodhya's potential for hotels, resorts, and apartments, preparing to organize builders' conferences to explore the city's commercial and residential prospects as it anticipates a surge in tourist footfall post-temple inauguration.

As the excitement mounts for the Ram Mandir inauguration, Ayodhya's real estate landscape braces for transformative growth, urging potential investors to navigate these opportunities with informed decisions and thorough due diligence.

Also Watch: Top 12 business tycoons invited for Ram mandir inauguration


Up Next

Ram Mandir inauguration: Amid surge in prices experts ask buyers to remain cautious while buying property

Ram Mandir inauguration: Amid surge in prices experts ask buyers to remain cautious while buying property

Gold, Silver Price Today March 01, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

Gold, Silver Price Today March 01, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

Gold, Silver Price Today February 29, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

Gold, Silver Price Today February 29, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

Paytm agrees to discontinue various inter-company agreements with Paytm Payments Bank

Paytm agrees to discontinue various inter-company agreements with Paytm Payments Bank

LPG Price Hike: Commercial LPG cylinder price increased by Rs 25.5; check latest prices in your city

LPG Price Hike: Commercial LPG cylinder price increased by Rs 25.5; check latest prices in your city

Zepto launches subscription service, fuels competition in quick commerce market

Zepto launches subscription service, fuels competition in quick commerce market

More videos

Cabinet approves ₹75,021 cr subsidy scheme for rooftop solar installation

Cabinet approves ₹75,021 cr subsidy scheme for rooftop solar installation

Air India slapped with Rs 30 lakh penalty after 80 year old passenger's death

Air India slapped with Rs 30 lakh penalty after 80 year old passenger's death

Three semiconductor plants in India to attract Rs 1.26 lakh crore investment

Three semiconductor plants in India to attract Rs 1.26 lakh crore investment

Number of ultra rich in India to grow at 50% by 2028: Knight Frank

Number of ultra rich in India to grow at 50% by 2028: Knight Frank

SoftBank trims further 2.17% stake in Paytm; from 17.5% stake in 2022, now holds just 2.83%

SoftBank trims further 2.17% stake in Paytm; from 17.5% stake in 2022, now holds just 2.83%

ETF interest rate hike and upcoming halving drive Bitcoin rally

ETF interest rate hike and upcoming halving drive Bitcoin rally

Reliance Industries and Walt Disney announce joint venture, RIL to invest Rs 11,500 crore

Reliance Industries and Walt Disney announce joint venture, RIL to invest Rs 11,500 crore

After announcement of deal with Disney, Reliance hits new-lifetime highs, m-cap tops Rs 20 trillion

After announcement of deal with Disney, Reliance hits new-lifetime highs, m-cap tops Rs 20 trillion

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.