16 January 24
FOCUS ON SUSTAINABILITY Project to be India’s first Vastu-based township, says govt official.
New Delhi: The Uttar Pradesh government has planned a sprawling 1,000 acre township in Ayodhya, combining contemporary and traditional architectural elements, Nitin Gokarn, the additional chief secretary for ho using & urban development, told ET. The ‘Now Ayodhya’ will be India’s first Vastu-based township, with the state government having already secured the necessary land for its development.
As Ram Mandir is set to be inaugurated on January 22, developers are lining up to acquire land in the region for commercial and residential development.
“Now Ayodhya City is going to be a river-centric city with a focus on sustainability. It is going to be in one of the best cities in the county,” said Gokarn.
The senior government official said that they recently auctioned a plot for a hotel, where the reser ve price was 288,000 sq mt, and the successful bid was for 108,000 sq mt.
We are witnessing significant demand. We have initiated registrations for the state guest house, and subsequently, the com- mercial development plots will be put up for auction. There is a shortage of clean properties, and the government is committed to assisting developers in acqui- ring such land,” stated Gokarn.
Land prices and property-related transactions in the city have shot up by 50% since the ground- breaking ceremony for a grand temple to Ram was performed.
“Developers from all over the country are keen on acquiring land in Ayodhya as it will attract an influx of tourists. Government land is a safer bet for developers, and a planned township will attract huge investment,” said Amit Agarwal, MD of 2A Company, a real estate firm.
Due to uncertainty over the land acquisition rules, local investors are driving sales in Ayodhya.
SUCCESSFUL BID FOR PLOT
Official said govt recently auctioned a plot for a hotel, where reserve price was 88,000 sq mt, and the successful bid was for 108,000 sq mt
The average number of deals per day in the region has in- creased to between 25 and 30 from 15-20 before the ground-breaking ceremony was performed.
As per estimates from the Ram Temple Trust, the temple, once ready, could see 80,000 to 100,000 visitors daily.
Property prices in Ayodhya we- re estimated to have shot up by 25- 30% in 2019 immediately after the top court awarded the disputed religious site in the city, where a 16th-century mosque was demo- lished, to the Hindus.
The administration has said it will offer all facilitation to investors under the present policies of subsidies and incentives.
Source- The Economic Times