Ayodhya land prices double month after Ram temple bhoomi pujan

9/22/2020 1:05:00 PM

In what could only be described as miraculous or divine intervention, land prices in Uttar Pradesh’s Ayodhya have doubled in just a month since the Ram temple ‘bhoomi pujan’ in August. This surge was observed above 30-40% growth witnessed between the Supreme Court’s verdict in the Ram Janmabhoomi-Babri Masjid title suit nine months earlier and temple ceremony in August. Even in surrounding areas near the town, land prices have shot up to Rs 1,000-1,500 per square feet, whereas at prime locations these rates stand as high as at Rs 2,000- 3,000, as per TOI. Before the verdict, the land was easily available at Rs 900 per square feet. The report said that the demand for land shot up in the area after the announcement of three large infrastructure projects, three-star hotels and an international airport by UP Chief Minister Yogi Adityanath who promised to turn the city into India’s Vatican. The city’s realty prices remained depressed for decades owing to an ongoing highly-volatile political controversy which ran for decades. The nearest hotel to the city was on Faizabad. Lack of amenities in the outskirts kept prices around Rs 300-450 per square feet. More than private demand, the prices are surging in anticipation of state government buying vast tracts of land for infrastructure projects. Private buyers, however, remain wary of their investment getting jeopardised in case they buy at premiums and later their land gets acquired by the state. Local property agents quoted in the report say the local authorities have already put land registry strictures in place. Many properties are disputed and a majority of land parcels up for sale lie on the wetlands of Saryu river and are being watched by the National Green Tribunal. While most buyers want the land for religious purposes such as setting up dharamsala and community kitchens, there are some who see it as a solid investment for the future. Source: Timesnownews

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