Land Prices In Ayodhya More Than Triple Since Supreme Court's Ram Mandir Verdict

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.