Property in Ayodhya: The real estate market in Ayodhya is gradually cooling down. People may have to wait a little longer for property prices to increase here. A data from Magicbricks has revealed that after the inauguration of the grand Ram temple in January last year, there was a huge jump in both demand and value of property in Ayodhya, but it started declining gradually after June. . Compared to the quarter from October to December last year, the demand for residential property has declined by about 63 percent at the same time this year.
The condition of real estate in Ayodhya is like this
Talking to Moneycontrol, real estate experts said, the decline in demand for property is a sign of change in the interest of investors. Local brokers say that after Ram Mandir, work has not started on any big project in the city. Land prices also remain almost the same.
According to Magicbricks data, searches for residential property in Ayodhya increased by 58.03 percent quarter-on-quarter in October-December 2023 and will reach its high level with an increase of 186.54 percent between January and March in 2024. Had gone. However, in the fourth quarter of this year it also saw a decline of up to 63 percent.
Due to this also the price of property has fallen
Experts say that after the inauguration of the temple, the supply in the premium segment increased, due to which the prices also increased. Speaking to Moneycontrol, Prasoon Kumar, Chief Marketing Officer, Magicbricks, said, “Most of the residential units available have been sold. The new development is being done keeping in mind the premium segment, due to which local buyers are being disappointed. Apart from this, due to delay in temple construction work and reduction in flights to Ayodhya, people are being forced to think before investing.
Experts have expressed the possibility of demand for property increasing again after the completion of the temple in March 2025.
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