Introduction
Ayodhya, a city steeped in history and culture, is experiencing a significant transformation in recent years. With the construction of the grand Ram temple nearing completion and the consecration ceremony scheduled, the real estate market in Ayodhya is witnessing a boom like never before. Investors and buyers are flocking to the city, seeking to capitalize on the economic opportunities arising from this historic development. In this article, we will explore how the real estate sector in Ayodhya is thriving, the factors driving this growth, and the potential investment opportunities in the region.
The Changing Landscape of Ayodhya
The Supreme Court's landmark judgment in November 2019 paved the way for the construction of the Ram temple in Ayodhya. This decision has had a profound impact on the city's real estate landscape. Previously, the price of land in Ayodhya was a fraction of what it is today. However, with the temple nearing completion, land prices have surged, particularly in the Sadar area and its surroundings.
According to Yogendra Pratap Singh, assistant commissioner of the Stamp and Registration department in Ayodhya, the revenue receipt for November 2023 in Ayodhya witnessed a staggering 109.19% increase compared to the previous year. The major contributor to this surge is land registration, primarily in the Sadar region. The once-sleepy Sadar area, within a 3-kilometer radius of the temple, has become the most sought-after location, with land prices reaching as high as ₹25,000 per square foot.
The Impact on Land Transactions
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20 Dec 2022
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