As Ram Mandir is all set for its grand opening on January 22, the economic growth that comes with it for Ayodhya is already experiencing a boom. Along with the real estate and hospitality sector, even the manufacturing industry is also experiencing a high in the area.
Real Estate Sector In Ayodhya Ahead Of Ram Temple Consecration
As per the latest report, British conglomerate Trafalgar Square Capital is investing a massive Rs 75,000 crore to establish cutting-edge defence manufacturing units in the area. This investment by Trafalgar Square Capital marks the largest-ever investment in a single district in India by a company, reported Moneycontrol.
When it comes to real estate in the area, since the announcement of the construction of the Ram Mandir, the prices of land and property in Ayodhya have quadrupled and are catching up with more prominent cities in Uttar Pradesh. Experts suggest that the continuous development of the area regarding Ram Mandir construction, airport construction, revamped train stations and more are likely to contribute further to the soaring prices of real estate in the area.
This increase in real estate costs and demand started right after the Supreme Court’s verdict in favour of Ram Mandir in 2019. The property prices reportedly increased by a whopping 25 to 30 per cent.
A research conducted by the real estate service firm ANAROCK shows a significant hike in land prices not just around the Ram Mandir but on the outskirts of Ayodhya as well.
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Hospitality Industry Grows In Ayodhya
Similarly, after the announcement of the Ram Mandir construction, the travel and tourism industry has also braced themselves for the expected overflow of tourists in the area.
Ayodhya is going to be one of the biggest tourist attractions in the future, and it has also created more than 20,000 jobs in the travel industry as the firms are preparing themselves for the new business knocking on their door.
New job creation is not specific to one industry. The recent expansion in several sectors amid the construction of Ram Mandir means more job opportunities in every industry looking to expand in the ‘Ram Nagri’.
The Maharishi Valmiki International Airport in Ayodhya is a testament to what to expect from the city. The airport is constructed on 821 acres in just two years showing the capacity that Ayodhya holds for the future.
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