I am sure you all have heard about the famous Ayodhya Ram Mandir. It is a temple that is being built in Ayodhya, Uttar Pradesh, India. Ayodhya is the birthplace of Rama, a principal deity of Hinduism. The first phase of construction of Ram Temple began in March 2020 by The Shri Ram Janmabhoomi Teerth Kshetra trust.
The COVID-19 pandemic and the 2020 China-India problems caused a temporary suspension of construction. On 25th March 2020 Ram idols were shifted to a temporary location in the presence of Chief Minister Yogi Adityanath. The construction of Ram Mandir began on 5th August 2020, after the foundation stone laying ceremony by Prime Minister Narendra Modi.
Shri Ram Janmabhoomi Teerth Kshetra (SRJBTK) is the authority in charge of Ram Mandir’s operations and the temple’s construction. The main contractor for the construction of the Ram Mandir is Larsen & Toubro and the Tata Consulting Engineers is the project management consultant. The budget for the construction cost between 900 and 1,100 crores.
The temple will become a major tourist spot since the project includes a museum, a research centre, and an archival centre. The first-floor construction will be completed by December 2023.
Ayodhya is facing a boom in real estate. It is emerging as a hub of economic growth and global tourism. Land prices ascended, land deals multiplied, and reported an increase in the construction of the number of hotels, restaurants, and other infrastructure facilities in Ayodhya.
The property landscape of the town has changed over the last three years. The past one-and-a-half years, especially religious days, have noted a tremendous increase in the number of tourists. It will become a favorable pilgrimage centre eventually. The temple town will attract a heavy flow of pilgrims, once the construction of Ayodhya Ram Mandir is completed.
The Ayodhya Ram Mandir and the announcement of the International airport, have ignited the property market of Ayodhya. Developers from Noida are launching multistoried apartments in the city. Residential properties around the temple have seen an immense cost as the Ram Janmabhoomi Temple received clearance from the Supreme Court of India.
The Uttar Pradesh government has already made 1,100 acres available for constructing residential, commercial, and retail properties. Many private developers have shown interest in Ayodhya city and planned to initiate their projects. Especially the area surrounding the temple within a distance of 15kms is receiving attention and marked a rise in the land price.
The most preferred location is the land around Ram Katha Park and the Bypass Road which connects the town’s major cities like Lucknow, Varanasi, Basti, and Azamgarh.
The Ayodhya Ram Mandir will be open to the devotees and the public by December 2023. The construction is progressing under SRJBTK. Devotees traveling from various parts of the country to visit the temple will increase the modes of transportation in Ayodhya like the train, taxi, bus, etc. This will automatically reflect positively on the real estate sector.