Ram Mandir: Property rates likely to rise by 12-20 times in Ayodhya, say experts
Track Ram Mandir live updates here “Property prices in Ayodhya have risen by 5-10 times ever since the construction of Ram Mandir broke ground. Based on the type of property and proximity from the temple, price of land and properties have escalated, with rates fluctuating between ₹2000 per sqft to almost ₹20000 per sqft within 5-10 kms of the temple site. With lakhs of visitors expected to visit the temple city post inauguration, it is expected that the prices can go up by 12-20 times in the next decade," said Ravi Nirwal, Sales Director and Principal Partner, Square Yards.
Ayodhya is undergoing an unprecedented transformation, driven by a substantial $6 billion investment in infrastructure, due to the inauguration of the Ram Mandir. This development has sparked a significant upswing in the real estate sector within the holy city, resulting in soaring property prices. Nirwal further added that the investors, both domestic and international, are actively pursuing valuable land parcels in close proximity to the temple site.
The recent establishment of an airport has further intensified the real estate market in the surrounding areas. However, due to limited land availability and escalating demand, property prices in certain zones have reached almost unaffordable levels. Also read: Ayodhya temple inauguration: Telcos beef up network infra “As a well-connected city, Ayodhya holds substantial growth potential in the upcoming years, attracting the attention of prominent developers across the country.," Nirwal said.
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