Owing to the extensive redevelopment projects being carried out in Ayodhya alongside the constrcution of the historic Ram Mandir, the holy town is rapidly emerging as a magnet for domestic as well as global investors. Investors from a variety of sectors are eyeing investments in the holy city and as spiritual tourism is expected to soar in the holy city following the Ram Mandir’s grand inauguration, several investors from the hospitality sector are making large investments in the temple town of Ayodhya. Several well-known hotel chains are opening branches in Ayodhya.
Uttar Pradesh Chief Minister Yogi Adityanath, while speaking at an event organised by a local media outlet, confirmed that a proposal to build a seven-star hotel serving only vegetarian food had been received.
“We have received 25 proposals to set up hotels in Ayodhya….one of the proposals is to build a pure vegetarian seven-star hotel,” he added.
Additionally, a number of five-star hotels will be built along the Sarayu River’s banks. Up to 110 small and large hoteliers are purchasing land in Ayodhya to set up their businesses there. According to reports, as many as 50 major hotel construction projects are currently underway in the city.
Notably, Indian Hotels Company Limited (IHCL), Marriott International, Sarovar Hotels & Resorts, and Wyndham Hotels & Resorts have already signed deals to build hotels in Ayodhya. These hotels are expected to be operational by 2024.
Besides investors from the hospitality sector lining up to invest in the holy city, Ayodhya has emerged as a major destination for real-estate investors. In this line, Mumbai-based real estate company The House of Abhinandan Lodha has invested nearly Rs 300 crore in acquiring a 25-acre land parcel in Ayodhya and has laid out a plan to launch a plotted development project in January 2024.
The project is situated approximately 12 to 15 minutes from the Shri Ram Temple. According to Samujjwal Ghosh, Chief Executive Officer (CEO), HOABL, the company expects to invest roughly 1200 crore over three to four years that is by December 2026.
According to latest news, Bollywood megastar Amitabh Bachchan has invested in this ambitious upcoming project, The Sarayu, which is being developed by Mumbai-based real estate company The House of Abhinandan Lodha.
According to reports, (HoABL) who is building the seven star enclave has refused to comment on the size and value of the deal citing client confidentiality, however, the real estate industry sources said the plot where Bachchan intends to build a home measured around 10,000 square feet and was valued at Rs 14.5 crores.
