Hiranandani, Founder MD, Hiranandani Group sees Increase in demand for residential and commercial properties in Ayodhya
Hiranandani, Founder MD, Hiranandani Group sees
Increase in demand for residential and commercial properties in Ayodhya
Niranjan Hiranandani, Founder MD, Hiranandani Group, in his
LinkedIn post mentioned that
following the inauguration of the Ram Temple on January 22 by PM Modi, Ayodhya has the potential to attract more tourists and will lead to an increase in the demand for residential and commercial properties.
Hiranandani was also among the industrialists and industry leaders present in Ayodhya amidst the Ram Temple consecration ceremony.
He further wrote in his post that Ayodhya’s historical significance and tourist potential make it an attractive investment. The operational Ram temple will attract more visitors, increasing the demand for residential and commercial properties.
He also said that entrepreneurs and businesses have ample opportunities to meet the growing demand for goods and services. The Hiranandani Group founder and MD also noted that Uttar Pradesh’s GDP will report bolstering growth, given Ayodhya’s cultural and emotional significance combined with the economic investment.
Although, Hiranandani is optimistic over the economic potential of Ayodhya, Gulam Zia, Senior Executive Director at Knight Frank India, expounded on the investment opportunities in an interview with a business channel.uu6
According to Gulam Zia, Senior Executive Director, Knight Frank India, religious tourism as a concept is something which will see a sea change. This is one of the top destinations emerging globally and obviously will give lots of opportunities to investors of all kinds.
He further added that
Rs 70,000 crore have been allocated for the redevelopment of Ayodhya and that tourism industry will grow apart from retail shops and gold souks.
Zia,further adds that guest houses should be looking at a rental return between 6 per cent to 9 per cent. He noted that in the next month or so, we are expecting about three million tourists arriving in the city and these numbers are mindboggling.
However, he also flagged some cons of investing in the city at present, given reports of land values going up drastically in Ayodhya.
There are once again a lot of these estimates because most of these estimates are not supported by solid numbers or solid registration documents to assess it but then he is t5old about 8-10 times increase has already happened in the values of land in and around Ayodhya,” the Senior Executive Director at Knight Frank India said on reprots that land values have gone up massively in Ayodhya.
He also added that he is not bullish on commercial/office estate growing in the area, due to which Zia suggested that investors should wait and watch until Ayodhya’s masterplan is formed and the 1,200-acre Greenfield township worth
Rs 2,180 crore as promised by the Uttar Pradesh government comes into place.
News Edit K.V.Raman
