Gurugram (Haryana) [India], November 8 : Prices of real estate in Ayodhya have increased by 15 times in the last three years, said Abhinandan Lodha, Chairman, The House of Abhinandan Lodha (HoABL).
In an exclusive interview with ANI, Lodha said that they started purchasing land in Ayodhya in the year 2021.
"When we started buying from the farmers to buy their land the price of one-acre land was ranging between Rs 25 to 50 lakh per acre depending on location, but today the average price of per acre land in Ayodhya is Rs 5 crores," he said.
"We started selling the land in January this year and within 7 months all the 1400 plots were sold. The last land parcel we sold at the rate of Rs 15000 per square yard. HoABL has bought 51 acres of land with 1400 farmers. Film Star Amitabh Bachan has purchased 15000 sqft of land in its Ayodhya project," he said.
After the grand success in Ayodhya, the builder has announced to launch of projects in the religious cities of Varanasi and Vrindavan.
Abhinandan Lodha said that it has recently concluded significant land acquisitions of over 352 acres or 15,333,120 sqft across Amritsar, Vrindavan, Varanasi, Shimla, Nagpur and Khopoli near Mumbai.
These acquisitions, totalling over Rs 3,000 crores in investments, will be brought to market beginning January 2025 in the form of branded new-generation land with revenue potential over close to a billion dollars.
To cater for the demand of north India, HoABL has opened its new office in DLF Cyber City, Gurgaon as part of its rapid national expansion.
This new office will serve as a central hub for managing the company's latest acquisitions, project deliveries, and its ambitious plan to bring Grade-A land ownership opportunities to a larger audience.
Since its inception, less than four years ago, HoABL has delivered over 150 acres of new generation plotted land, much within the promised timelines and has another 700 acres under development, across 6 locations - Anjarle, Dapoli, Neral and Alibaug in Maharashtra, Goa and Ayodhya.
The House of Abhinandan Lodha is driving Ayodhya's transformation with a Rs 3,000 crore investment in Uttar Pradesh, including Rs 1,200 crore for Ayodhya alone.
Over the past two years, HoABL has acquired 75 acres from 1,400 farmers with long-term benefits for the local community.
A key project is The Sarayu, a 75-acre luxury development also featuring India's first all-vegetarian five-star hotel, managed by The Leela.
Abhinandan Lodha said that the company is also set to deliver 180 acres ie nearly 5 million sq ft of development to over 2000 customers in Anjarle and Neral in Maharashtra in December 2024. HoABL is also preparing for large-scale deliveries in Dapoli and Alibaug in Maharashtra, Ayodhya and Goa in the next 10-12 months - all ahead of schedule.
HoABL says its efficient project management and strong market foresight continue to elevate the brand's reputation for timely deliveries.
The House of Abhinandan Lodha said its commitment to sustainable development is reflected in its Bicholim project, where 6,000 trees have been planted and over 30 native species preserved and plantation of 1000 trees in the holy city of Ayodhya.
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