Land prices in Ayodhya have shot up sharply after Prime Minister Narendra Modi performed the ‘bhoomipoojan’ of Ram Temple there on 5 August, reports Times of India.
More importantly, the recent spike in rates does not take into consideration the 30-40 per cent appreciation that already took place post the Supreme Court’s verdict on the long-standing issue in November 2019.
Uttar Pradesh Chief Minister Yogi Adityanath has declared a slew of infrastructure projects post the grand shilanyas event last month.
These initiatives include the setting up of an international airport nearby and also several 3-star hotels to enhance connectivity and amenities in the holy city.
Property consultant Rishi Tandon stated to the TOI, “Property rates even in Ayodhya’s hinterland have shot up to Rs 1,000-1,500 per sq ft. In the heart of the town, the rates are currently in the range of Rs 2,000-3,000 per sq ft. Before the Supreme Court verdict, one could easily buy land in Ayodhya town for less than Rs 900 a sq ft.”
Large portions of land are being acquired by the state government for aforementioned enterprises. On the other hand, local administration has also activated the land registry strictures.
The report states that several disputed ownership properties along with plots under the ambit of the National Green Tribunal (NGT) have been tagged for sale for various purposes. Needless to say, Ayodhya looks set to embark on a new, prosperous era after settling the title dispute over Lord Ram’s abode.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.