The Uttar Pradesh government is reportedly planning a 1,000 acre township in Ayodhya.
The township, 'New Ayodhya', will combine contemporary and traditional architectural elements, according to Nitin Gokarn, the state's additional chief secretary for housing and urban development, Economic Times reported.
The state government has already secured the land for 'New Ayodhya' and it will be will be India's first vastu-based township.
As the inauguration of the Ram Mandir approaches on 22 January, there's a surge in interest from developers for land purchases in the region for both commercial and residential projects.
The "New Ayodhya" will be a river-centric city with a focus on sustainability, Gokarn said, adding that It is going to be in one of the best cities in the county.
Since the groundbreaking ceremony for the Ram temple in August 2020, land prices and property transactions in Ayodhya have increased by 50 per cent.
At present, due to uncertainties in land acquisition rules, local investors are the primary drivers of property sales in Ayodhya.
The average number of deals per day in the region has increased to between 25 and 30 from 15-20 before the ground-breaking ceremony.
The Ram Temple Trust estimates that the temple could attract 80,000-100,000 visitors daily once it's completed.
Following the 2019 Supreme Court verdict that allocated the Ramjanmabhoomi site in Ayodhya to Hindus, the property prices in the city surged by 25-30 per cent.
The local administration has pledged to facilitate investments under the current subsidy and incentive policies.
Kuldeep is Senior Editor (Newsroom) at Swarajya. He tweets at @kaydnegi.
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