The city of Ayodhya, as it is known within sacred grounds, is situated on the right bank of the river Saryu. The well-known pilgrimage site of Ayodhya is only 6 miles from Faizabad. Lord Rama, the seventh manifestation of Lord Vishnu, has a strong connection to this town. It served as the seat of government for the Surya dynasty’s descendants for many years, whose most famous ruler was Lord Rama. In the past, Ayodhya was known as Kaushaldesa.

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Why is Ayodhya well-known?

Ayodhya, an old town, is treasure by Hindus as one of the seven sacre towns since it is link to the birth of Rama and Dasharatha’s rule in the great Indian epic poem Ramayana. 

The princely state where it served as the capital until 1856 had an earlier name in English that was “Oudh” or “Oude,” and that name is still use today. According to the Ramayana, the ancient Kosala kingdom’s capital was Ayodhya. As a result, it was also called “Kosala”.

Ayodhya as a real estate hotspot

Prices for residential homes within a 10- to 15-kilometer radius of the temple site have increased significantly.

Along the Sarayu River’s banks, Ayodhya is quickly becoming a centre for economic development & international travel. Over the past three years, the town’s property landscape has undergone a radical transformation. Ayodhya, which is envision as a spiritual centre and a global tourism hub, is also drawing big-ticket economic corridors. And as a result, investments from all over the nation and the world. The real estate & infrastructure sectors are also benefiting from this money.

Factors influencing Ayodhya’s increasing demand for real estate

Residential real estate prices within a 10- to 15-kilometer radius of the Ram Janmabhoomi Temple have skyrocketed since the temple’s approval by the Indian Supreme Court.

Once the temple is built, the town of Ayodhya is anticipate to experience a massive flood of pilgrims. Which has encouraged developers to compete for the first-mover advantage. The need for more room to accommodate an increasing number of tourists has sparked developers’ interest, notably in land parcels for mixed-use developments.

Working in the Ayodhya real estate market was not financially viable prior to 2019. The majority of the transactions was plan developments and took place primarily between the buyers and sellers directly. The construction of the international airport and the Ayodhya Mandir has sparked a boom in the city’s real estate sector. Now, a few sizable Noida developers are introducing multi-story apartments in Ayodhya.

Real estate hotspots in Ayodhya

In addition, the state of Uttar Pradesh has made 1,100 acres of land available for residential, commercial, and retail development, and private developers hope to buy them and begin their projects there.

Within 15 miles of the temple site, the neighbouring areas are doing quite well in terms of appreciation, with property prices rising. Land parcels around the Ram Katha Park & he neighbouring Bypass Road, which connects the town with important cities like Lucknow, Varanasi, Basti, and Azamgarh, are in extremely high demand.

Theri Bazar and Naya Ghat properties are also doing incredibly well. Ayodhya and the surrounding territories appear destined to develop into a major tourist destination due to the construction of an international airport, a bus terminal, and the government’s proposal to build cruise ships.

The above-average growth in value of Ayodhya properties over the past three years has not shocked analysts. According to them, the real boom is still to come. Property values in this area are anticipate to be the highest among Indian pilgrimage sites once the Ram Temple is nearly finish. Along with Varanasi, Ayodhya is anticipate to lead the real estate boom for at least ten years.

Real estate values in Ayodhya

Daily visitor numbers to Ayodhya are predict to be between 80,000 and 100,000. Land parcels are scarce because the area is not a megacity with defensible borders. The majority of the land parcels that the government has bought are not for real estate, but for infrastructure. Because of this, rates in some of the outlying areas. Which were formerly around Rs 500 per square foot, have suddenly skyrocketed to Rs 2,000 per square foot.

Since the Supreme Court’s decision in November 2019. The cost of homes in areas 10–15 kilometres from the Ram Janmabhoomi site has increased by 25%–30%. The government’s proposal to change the temple town has caught the interest of numerous investors, buyers of real estate, plots, second houses. And retirees looking for retirement communities, among others. Any area with religious significance has historically experienced steady growth in the real estate market, and Ayodhya is no exception.

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