Land prices rises in Ayodhya after Ram temple bhoomi Pujan

Land prices in Ayodhya have doubled in just a month since the Ram temple ‘Bhoomi pujan’ in August. The land prices had increased 30-40% after the Supreme Court's historic 2019 judgment as well.

Ayodhya: Land prices in Ayodhya almost doubled, within a month of the ground-breaking ceremony of Ram Temple, the iconic place of worship revered by millions of Hindus.

The current rates show that slowdown induced by the coronavirus pandemic has had no effect in Ayodhya, but the slew of infrastructure projects announced definitely did.

The land prices had increased 30-40% after the Supreme Court's historic 2019 judgment as well.

The demand for land rose manifold after the announcement of large-scale infrastructural projects, 3-star hotels and an international airport by Uttar Pradesh Chief Minister Yogi Adityanath, who promised to turn the pilgrimage town into India's Vatican.

The price of the land within the radius of 3 km adjacent to the Ram Janmabhoomi temple complex was Rs 1500-2500 - per sq ft before the decision but after the SC decision, it is between Rs 4000-6000 - per sq ft. Before the verdict, the land was easily available at Rs 900 per square feet.

In the eastern region of Ayodhya, along with the Saryu riverbank, the sale of land has been banned in view of all the beautification projects of the Central and State Government. Whereas, the land is being sold illegally in Shahnawazpur Gram Sabha and Shahnawazpur Majha between Rs. 1500 - per sq ft to 2000 per sq ft.

Ayodhya Municipal Corporation Mayor Rishikesh Upadhyay said, "Since the Bhoomi Pujan of Ram temple in Ayodhya, many big businessmen from outside want to build hotels dharmshalas, etc. for which he is contacting property dealers and real estate companies at the local level after which the demand for land has increased."

The city’s realty prices remained depressed for decades owing to an ongoing highly-volatile political controversy which ran for decades. The nearest hotel to the city was on Faizabad.

While most buyers want the land for religious purposes such as setting up Dharamsala and community kitchens, there are some who see it as a solid investment for the future.