‘New Ayodhya’: UP plans India’s first Vastu-based 1,000-acre township in the temple town; Details here
,new ayodhya‘Basti: The Government of Uttar Pradesh has revealed its plans to develop 1,000 acre township In Ayodhya, a mix of contemporary and traditional architectural elements. State Housing and Urban Development Additional Chief Secretary Nitin Gokarn shared this information.
This new township has been named ‘New’ Ayodhya‘, will be India’s first architectural township, Gokarna told ET. The state government has already secured the required land for this project. as the inauguration of Ayodhya Ram Temple Scheduled for January 22, developers are showing interest in acquiring land in the area for commercial and residential purposes.
Gokarna said the new Ayodhya city will be a river-centric city with a focus on sustainability, aiming to become one of the best cities in the country. The government recently auctioned a plot for a hotel, with a reserve price of Rs 88,000 per square metre. The successful bid for this plot was Rs 108,000 per square metre. Gokarna noted that there is high demand for clean properties, and the government is committed to assisting developers in acquiring such land. Registration for the state guest house has been started and after this, commercial development plots will be auctioned, he said. Since the ground breaking ceremony for the grand Ram Mandir In August 2020, land prices and property-related transactions in Ayodhya have increased by 50%. It has attracted developers from across the country, as Ayodhya is expected to receive a large number of tourists. Amit Agarwal, founder and MD of real estate firm 2A Company, noted that government land is considered a safe option for developers, and a planned township will attract significant investment.
Local investors are currently increasing sales in Ayodhya due to uncertainty over land acquisition rules. The sector has seen an increase in the average number of deals per day, from 15-20 before the bhoomi-pujan ceremony to 25-30 now.
This new township has been named ‘New’ Ayodhya‘, will be India’s first architectural township, Gokarna told ET. The state government has already secured the required land for this project. as the inauguration of Ayodhya Ram Temple Scheduled for January 22, developers are showing interest in acquiring land in the area for commercial and residential purposes.
Gokarna said the new Ayodhya city will be a river-centric city with a focus on sustainability, aiming to become one of the best cities in the country. The government recently auctioned a plot for a hotel, with a reserve price of Rs 88,000 per square metre. The successful bid for this plot was Rs 108,000 per square metre. Gokarna noted that there is high demand for clean properties, and the government is committed to assisting developers in acquiring such land. Registration for the state guest house has been started and after this, commercial development plots will be auctioned, he said. Since the ground breaking ceremony for the grand Ram Mandir In August 2020, land prices and property-related transactions in Ayodhya have increased by 50%. It has attracted developers from across the country, as Ayodhya is expected to receive a large number of tourists. Amit Agarwal, founder and MD of real estate firm 2A Company, noted that government land is considered a safe option for developers, and a planned township will attract significant investment.
Local investors are currently increasing sales in Ayodhya due to uncertainty over land acquisition rules. The sector has seen an increase in the average number of deals per day, from 15-20 before the bhoomi-pujan ceremony to 25-30 now.
Once the Ram Mandir is completed, estimates by the Ram Mandir Trust suggest that it could attract 80,000–100,000 visitors per day. In 2019, when the Supreme Court handed over the disputed religious site to Hindus, property prices in Ayodhya had already increased by 25-30%.
The administration has assured investors of facilities under the existing policies of subsidies and incentives.
