Lodha Group Invests Rs. 1200 Cr to Introduce 250 plots in Ayodhya

The Mumbai-based company has primarily invested nearly Rs. 1200 crore in a 51-acre plot of land in Ayodhya, and Phase 1 of its opulent project is presently under construction. Around 250 plots will be released by real estate developer The House of Abhinandan Lodha (HOABL) in conjunction with the Ram Mandir Pran Pratishtha ceremony in Ayodhya.

For the project in Ayodhya, the company has received domestic requests for bids from Mumbai, Delhi-NCR, Lucknow, Kanpur, and Meerut in addition to inquiries from non-resident Indians (NRIs) with residences in the US, UK, and South East Asia.

Over the next three to four years, the corporation is expected to invest close to Rs. 3000 crore in Uttar Pradesh. The planned Ram Temple in Ayodhya is roughly 12 to 15 minutes away from the company's project.

Bollywood icon Amitabh Bachchan has also purchased a plot in the Sarayu, a seven-star mixed-use community that the Mumbai-based developer pegged at Rs. 14.5 crore. Through its app, users may directly acquire land from the totally digital corporation. Around 24 per cent of the Ayodhya project's entire interest is made up of NRIs from the USA and the Middle East. The regions of Lucknow, Kanpur, and Meerut account for 22% of those who have expressed interest. Furthermore, the Delhi NCR accounts for thirty-five percent of the interest, with the remaining portion being divided.

Speaking on this, Samujjwal Ghosh, Chief Executive Officer (CEO), HOABL says, “Ayodhya has the potential to become a globally renowned smart city and the spiritual capital of the world. Our investment in Ayodhya marks the inception of a lasting relationship with Uttar Pradesh, and we are committed to furthering our presence in culturally and spiritually rich areas. Of our Rs. 1200 crore investment, Phase 1 of our luxury project is also underway. We have bought a 51-acre land parcel in Ayodhya largely for residential purposes”.