Uttar Pradesh Unveils Plans For New Ayodhya City on 1000 Acres

The Uttar Pradesh government has announced its ambitious plan to develop a 1,000-acre township in Ayodhya, blending traditional and contemporary architectural designs. Nitin Gokarn, the state's Additional Chief Secretary for Housing and Urban Development, revealed that the government has already acquired land for this pioneering project, known as 'New Ayodhya'.

This township is set to be India's first Vastu-based development, aligning with ancient architectural principles.

Sustainability and River-Centric Design at the Core

Gokarn emphasized that 'New Ayodhya City' would be a river-centric development with a strong focus on sustainability. The project aims to set a new standard for urban development in India. Recently, the state auctioned a plot for hotel development, with the successful bid reaching Rs 108,000 per sqm, significantly higher than the reserve price of Rs 88,000 per sqm. This auction result is a testament to the growing demand in the region.

Rising Demand and Commercial Development

The UP government is experiencing a surge in demand for property in the region. Initiatives like registrations for a state guest house and upcoming auctions for commercial development plots are underway. Gokarn mentioned the government's commitment to assisting developers in acquiring clean properties for development. Since the groundbreaking ceremony of the Ram Mandir in August 2020, land prices and property transactions in Ayodhya have increased by 50%.

Nationwide Developer Interest and Local Investment

Amit Agarwal, founder and MD of 2A Company, a real estate firm, noted that developers from across India are keen to invest in Ayodhya, anticipating an influx of tourists. Government land is particularly attractive to developers due to its safety and potential for huge investments. Despite uncertainties over land acquisition rules, local investors are driving sales in Ayodhya. The number of daily property deals in the area has significantly increased since the groundbreaking ceremony of the Ram Mandir.

A Surge in Property Prices and Government Support

Following the Supreme Court's decision in 2019 to award the disputed religious site to Hindus, property prices in Ayodhya have risen by 25-30%. The local administration is offering facilitation to investors under current policies, including subsidies and incentives. With the Ram Temple expected to attract 80,000-100,000 visitors daily upon completion, Ayodhya's property market is poised for substantial growth.