Real estate prices in Ayodhya have reportedly skyrocketed following the consecration of the Ram temple in the city. According to reports, home prices have increased by 179% in just three months. Magicbricks’ analysis confirms that Ayodhya has emerged as a popular destination for investment, with well-known individuals taking interest. Recently there was news that Bollywood star Amitabh Bachchan has bought a plot in Ayodhya. According to research by online real estate company Magicbricks, the price of the same location in Ayodhya in October last year was Rs 3,174 per square foot; But by January 2024 it will reach Rs 8,877 per square foot. Accordingly, a property worth Rs 10 lakh is now worth around Rs 28 lakh.

Magicbricks claimed that searches for residential properties in Ayodhya have increased by 6.25 times. Amit Singh, a local real estate broker in Ayodhya, said there has been no change in circle rates in the city in the last 5-6 years, but market rates are much higher, leading to a price gap. “Prices in some areas of the city are now out of reach, especially for locals,” he said. “Property prices have increased the most in the last six months due to the inauguration of Ram temple and infrastructure development in the city,” Singh said. To capitalize on this opportunity, many buyers from other districts and regions across the country have purchased properties here at higher prices, which has transformed the real estate market.

Apart from homes in cities, most real estate investments are made in land. Examples of these places are Faizabad Road, Devkali, Chaudah Kosi Parikrama, Ring Road, Nayaghat and Lucknow-Gorakhpur Highway. Due to this place being 6 to 20 km away from Ram Temple, the interest of investors is increasing in it.

According to data from the Stamp and Registration Department of Ayodhya district, there has been a 120 per cent increase in property registrations between 2017 and 2022. In 2017 (much before the Supreme Court judgment in 2019), 13,542 properties were registered in Ayodhya. According to government data, now it has increased to 29,889 in 2022. According to real estate consultancy ANAROCK Group, land rates which ranged from Rs 1,000 to Rs 2,000 per sq ft in 2019, are now Rs 4,000 to Rs 6,000 per sq ft.