Amitabh Bachchan buys plot in Ayodhya ahead of Ram Temple consecration event | More details here

Legendary Bollywood actor Amitabh Bachchan has acquired a piece of land within The Sarayu, an exclusive 7-star mixed-use development located in Ayodhya, developed by Mumbai-based company The House of Abhinandan Lodha (HoABL). While HoABL declined to disclose specific details regarding the size and cost of the transaction, insiders from the real estate sector suggest that the plot, where Bachchan plans to construct his residence, spans approximately 10,000 square feet and holds an estimated value of ₹14.5 crore.

Scheduled for an official launch on January 22, coinciding with Prime Minister Narendra Modi's inauguration of the Shri Ram Janmabhoomi Temple in Ayodhya, The Sarayu spans across 51 acres. Regarding his investment in this venture, Amitabh Bachchan said, ‘I am eagerly anticipating commencing this venture alongside The House of Abhinandan Lodha for The Sarayu in Ayodhya, a city that holds a special place in my heart. Ayodhya's timeless spirituality and cultural richness have fostered an emotional connection that transcends physical boundaries. This marks the beginning of a heartfelt journey into the essence of Ayodhya, where the blend of tradition and modernity creates a harmonious tapestry that resonates deeply with me. I am enthusiastic about constructing my residence in the global spiritual capital.’

Amitabh Bachchan’s birthplace Allahabad (now Prayagraj) is a four-hour drive from Ayodhya through National Highway 330.

Describing it as a significant achievement for his company, Abhinandan Lodha, Chairman of HoABL, expressed his excitement at having Amitabh Bachchan join as the inaugural resident of The Sarayu. The Sarayu is situated approximately 15 minutes away from the Ram Temple and about 30 minutes from the Ayodhya International Airport.

‘His investment in our Ayodhya project reflects confidence in the city’s economic potential and deep appreciation for its spiritual heritage,’ he said, adding that Bachchan’s association would turn the project into ‘a symbol of Ayodhya’s global spiritual significance’.

Amitabh Bachchan's investment is focused on the development of plots within the enclave, which is set to include a five-star palace hotel in partnership with Leela Palaces, Hotels and Resorts, owned by the Brookfield Group. The entire project is slated for completion by March 2028.

Ayodhya has witnessed substantial infrastructure development since 2019, following the Supreme Court's decision to award the site previously occupied by the Babri Masjid to the Hindu community. This ruling led to a notable increase in land prices both within the city and on its outskirts towards Lucknow and Gorakhpur.

In an assessment conducted in October 2023, Anuj Puri, Chairman of the Anarock Group, reported that property prices in Ayodhya experienced a surge of approximately 25-30% immediately after the verdict. Land prices on the city's outskirts have risen to approximately ₹1,500 per square foot to ₹3,000 per square foot, while prices within the city limits have reached around ₹4,000 per square foot to ₹6,000 per square foot. Consequently, there has been a substantial uptick in average property prices between 2019 and 2023.

Founded in 2021, HoABL has earned recognition for revolutionizing the land purchasing process by introducing transparency and leveraging technology, enabling individuals to acquire land from anywhere in the world. Abhinandan Lodha, the company's Chairman and the younger son of Maharashtra Tourism Minister Mangal Prabhat Lodha, mentioned that their previous project attracted customers from 19 different countries.

Additionally, HoABL has ambitious plans for four luxury hotels in locations such as Benares, Vrindavan, Shimla, and Amritsar, with a combined investment totaling ₹2,000 crore.

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