Ramlala’s temple decorated with lamps after consecration
Do you also want to be a neighbor of Lord Ram? Do you also want to have your house near the Ram temple in Ayodhya? So don’t think. If you delay too much, you may have to pay 20 times more than the current prices. Yes, if today the prices are Rs 2 thousand to Rs 20 thousand per square feet, then in the next 10 years you may have to pay Rs 40 thousand to Rs 4 lakh per square feet. This means that property prices in Ayodhya are going to break all records in the next year. Let us also tell you what the experts have to say about this.
Property prices may increase 20 times
Experts say that lakhs of devotees will come to the newly constructed temple. Thus, there is a possibility of 12-20 times increase in property rates in Ayodhya. Experts say that since the construction of Ram temple, prices have already increased 5-10 times. Ravi Nirwal, Sales Director and Principal Partner at Square Yards, said in a media report that property prices in Ayodhya have increased 5-10 times since the construction of Ram Temple. There is an increase in the prices of land and property depending on the property type and proximity to the temple. Rates within 5-10 km of the temple site are fluctuating between Rs 2000 per sqft to around Rs 20000 per sqft. Lakhs of people are expected to visit the temple city after the inauguration. It is estimated that prices may increase by 12-20 times in the next decade.
Investment in infra is also a big factor
According to Ravi Nirwal, due to the inauguration of Ram Temple, it is estimated that there will be more than 10 billion dollars in infrastructure. Due to this investment, there has been a tremendous boom in the real estate sector of the city, due to which property prices are increasing. Nirwal further said that both domestic and international investors are actively looking for valuable land near the temple site. Recently an airport has arrived in the city. Besides, the railway station has also been renovated. Whose capacity has been increased. Due to all these things the real estate market has become even more heated. However, due to limited land availability and increasing demand, property prices in some zones have reached unaffordable levels.
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Are these zones of Ayodhya on the radar?
Chaudah Kosi Parikrama, Ring Road, Devkali and Nayaghat are the major places for investment in Ayodhya, which are located within a radius of 5-15 kilometers of the temple. According to Nirwal, apart from this, there has been an increase in investment activities on Gorakhpur Faizabad Highway. Taking his point further, Nirwal said that rental prices are already reaching the sky.
If the property is within a few kilometers of the temple campus then there are chances of getting good returns. Apart from this, if one wants to invest in property then the possibility of returns will remain constant and one can also sell the property once the price of the property increases.
He suggested those investors to assess the availability of basic utilities including water supply, power and sewage system before investing in the real estate market in Ayodhya. Apart from all this, it is also important to assess the connectivity and proximity of the property to major roads, railways, bus routes and airports.
These factors are also increasing the prices
Experts also believe that there is a lot of development potential in Ayodhya in the coming years. Many townships and hotels are already under construction or likely to be built in the future in Ayodhya. Vimal Nadar, senior director of research at Colliers India, said in a media report that a lot of development work is going on in and around Ayodhya. The recently opened international airport will make an important contribution in making Ayodhya a favorite religious tourist destination. Apart from this, employment in the city will also increase due to the growth of hotel and travel industry in the city.