Real estate developer, The House of Abhinandan Lodha (HOABL), has invested close to ₹300 crore to acquire a 25-acre land parcel in Ayodhya. The company plans to launch a plotted development project in January 2024, approximately 15 minutes away from the upcoming Ram Temple.
“The total investment for Ayodhya is close to ₹1200 crore. We have looked at an initial investment of ₹300 crore for the first phase,” said Samujjwal Ghosh, CEO of HOABL. The project, in development for three to four years, includes 200-250 plots priced at ₹1.8 crore and above, with amenities like a clubhouse.
The company is exploring other real estate segments, such as retail and hospitality, in Ayodhya. While senior living isn’t currently considered, consumer interest may influence future decisions.
Inquiries have poured in from non-resident Indians and various regions in India, emphasizing the project’s strategic location along the Lucknow-Gorakhpur highway, 12-15 minutes from the Ram Temple and 20 minutes from the upcoming airport.
Ayodhya, chosen as a thematic location by HOABL, aligns with the company’s strategy of identifying high-quality land parcels. The company plans to invest close to ₹3000 crore in Uttar Pradesh, actively exploring opportunities in other spiritual towns.
