The Ram Mandir project has injected a substantial amount of investment into Ayodhya, driving economic growth and creating numerous employment opportunities. This influx of funds has not only enhanced infrastructure but has also spurred demand for residential, commercial, and hospitality spaces.

The Ayodhya Development Authority is planning to come up with a housing scheme. This will be a plotted scheme spread across 80 acres of land. Almost 95 percent land has been acquired. This will be located along the Lucknow-Gorakhpur highway. As the date of consecration ceremony approaches, real estate prices have skyrocketed after massive infrastructure development in the town. Ayodhya has topped Uttar Pradesh’s revenue collection for November in terms of collection from land registration, according to some media reports.

ECONOMIC & COMMERCIAL DEVELOPMENT

The economic viability and infrastructure have led to a 10-20%-fold jump in the land price over there. Close to 15 hotel permits have been given by the government, RS. 30,000 crore worth of investment has already gone in in terms of infrastructure upgrade. This temple town is not only going to be an economic centre, but also a cultural hub.

The temple trust predicts that once the mandir opens, there will be a staggering number of visitors ranging from 80,000 to 1 lakh every single day. To put this into perspective, the Vatican City receives approximately 5 million visitors annually, whereas we are talking about an astonishing 35 crores plus visitors each year. These numbers speak volumes about the city's economic potential and highlight the immense benefits it will bring to retail investors.

The surge in pilgrim tourism has led to an uptick in commercial real estate development. Hotels, restaurants, and shops are cropping up to accommodate the influx of visitors. This has not only provided a boost to the local economy but has also positioned Ayodhya as a vibrant tourist destination beyond its religious importance.

INFRASTRUCTURE DEVELOPMENT

The Ram Mandir development has catalyzed an overhaul of Ayodhya's infrastructure. Roads, transportation networks, and public amenities have been upgraded to accommodate the growing population and tourism. This has made Ayodhya not only a spiritual hub but also a more liveable and accessible city.

An investment of Rs. 1,200 crores in Ayodhya and HoABL will be developing a top-notch private enclave called the Saryu, which will be a source of pride for Ayodhya. It will be situated on a large area of  51 acres. The project will mainly consist of residential plots, villas, and luxurious high-rise apartments.

The land prices have skyrocketed by a staggering tenfold compared to 2019. Developers have shown keen interest in purchasing these lands, but some are holding off until the necessary infrastructure is in place. It seems they will make their decision after the event's launch, once they have a better understanding of the number of visitors flocking to the temple town.

CHALLENGES AND CONSIDERATIONS

While the real estate boom in Ayodhya is a testament to the positive impact of the Ram Mandir development, there are challenges such as maintaining the delicate balance between modernization and preserving the city's historical charm. Sustainable development practices and careful urban planning are crucial to ensuring Ayodhya continues to thrive without compromising its cultural integrity.