2024-04-08 20:23:24
New Delhi: Religious cities of India are developing rapidly in terms of spiritual tourism. Property developers are moving towards religious cities. Developers from Delhi and Mumbai are buying land in cities like Ayodhya, Varanasi, Vrindavan, Haridwar and Tirupati. Along with this, residential projects are also being started. Actually, lakhs of people visit these religious places. This improves the economic condition of the area. It brings many opportunities to the local people. This increases the purchasing power of the people living in these cities as well as promotes industrial development. The Confederation of Real Estate Developers Association of India (CREDAI) recently organized an event for developers in Varanasi. Where many people have shown interest in starting projects in the spiritual city in view of the huge demand.
Government is acquiring land
The Uttar Pradesh government is acquiring land in religious cities to develop theme-based townships. The state government has planned a 1,000-acre township in Ayodhya. Land prices in Ayodhya have increased by nearly 50% since the bhoomi pujan ceremony for the grand temple of Lord Ram in August 2020. The consecration of life in the temple took place in January this year. Ayodhya district administration says that it will provide all facilities to investors under the existing policies of subsidy and incentives. Similarly, land prices in Vrindavan have more than doubled after the approval of Banke Bihari Corridor. This demand is expected to increase with the opening of Jewar Airport. Due to increase in the potential number of tourists, new hotels are opening in these cities.
increased number of buyers
Ananth Raj has recently started a project in Tirupati, Andhra Pradesh. The project will include approximately 1,900 residential units. All will be prepared as 2-BHK. It is expected to be completed by 2027. Aman Sarin, director and chief executive officer of the company, says that cities with religious significance also attract both local residents and outside buyers for personal use and investment. These cities are often chosen not only for their spiritual appeal, but also because people think that after retirement, they will live a life of peace and spiritual peace in these places.
Rohit Sabharwal, director of Sabh Infrastructure, says that ease of doing business has given impetus to the infrastructure project. Due to this the demand for real estate has also increased. With multiple projects we have a client base looking for homes in religious cities. We are looking for opportunities in Vrindavan and Ayodhya.