Mumbai Style Chowpatty Beach to Boost Ayodhya’s Property Market

Vinod Behl
Ever since the run-up to the construction of Ayodhya’s  Ram Mandir and its subsequent opening, Ayodhya has seen great transformation as a spiritual tourism destination with several real estate, infrastructure and hospitality projects enhancing its global appeal for property investors.

Now, this Diwali, Ayodhya will have another jewel in its crown- a Mumbai-like Chowpatty beach on the banks of Saryu river, further spurring the hot property market of Ayodhya.

Already about Rs 5 crore has been allocated for this project where work is going on at a rapid pace. Ayodhya’s Chowpatty has been designed as a vibrant public space with seating platforms on the banks of the Saryu River being beautified as a beach area. It will feature a grand food court with shops and restaurants where local visitors and tourists can marvel at the beauty of the picturesque  Saryu River while relishing the local cuisine and dishes from other states. For the convenience of visitors, a dedicated parking lot is also coming up.

The visitors to Ayodhya will be able to enjoy this unique  Chowpatty experience this Diwali when the grand Deepotsav takes place. This will further brighten the property prospects in Ayodhya where an investment of about 1.80 lakh crore is being poured in for development. This includes Rs 1.15 lakh crore of investment by the Uttar Pradesh government with Rs 85000 crore investment under Ayodhya Master Plan 2031. The central government is also pitching in with an investment of Rs 11k crore.

The real estate development in Ayodhya is in top gear. Uttar Pradesh Avas Vikas Parishad is developing a new greenfield township in an area of over 1400 acres, at a cost of over 2100 crore. The private sector is not far behind. The House of Abhinandan Lodha(HoAL) is already in the spotlight with a seven-star branded plotted development,’ The Saryu’ where celebrities like film icon Amitabh Bachchan has his property. HoAL is also developing a 5-star hotel along with Leela. Upcoming hotels by other big hospitality chains like IHCL, Radisson, and Wyndham will ramp up realty in Ayodhya.

Amidst all this, with the Ayodhya administration deciding to hike land circle rates by a whopping  50 percent to 200 percent, after a gap of seven years, property scene in Ayodhya is set to sizzle further in the coming months.