House of Abhinandan Lodha Plans to Launch a 25-Acre Project in Ayodhya by January 2024

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    The House of Abhinandan Lodha (HOABL), a prominent real estate developer specializing in plotted development, has announced its ambitious plans to launch a residential plotted development project in Ayodhya district, Uttar Pradesh, by January 2024. Spanning across 25 acres of land, this upcoming project is strategically situated approximately 15 minutes away from the highly anticipated Ram Temple and just a 20-minute drive from the future international airport in Ayodhya.

    According to Mr. Samujjwal Ghosh, the Chief Executive Officer (CEO) of HOABL, this endeavor will involve an estimated investment of around Rs 300 crore. Plotted development, the cornerstone of this venture, involves selling or leasing individual plots to homeowners for property construction. These plots typically share a uniform size and are interconnected by a network of roads or boundary walls.

    The gated plotted development project primarily caters to residential needs, with a portion reserved for retail and other purposes. Mr. Ghosh revealed that HOABL has committed a substantial Rs 1,200 crore investment in Ayodhya, with an initial investment of approximately Rs 300-400 crore planned for the first phase. The company aims to complete this project by the end of the fiscal year 2026-27.

    In terms of pricing and location, HOABL plans to offer around 200 to 220 units, with prices starting at Rs 1.50 crore for a 1,250 sq ft plot. Mr. Ghosh noted that the size of the plots could be adjusted based on demand, indicating a willingness to sell larger parcels if required. The project aims to feature upscale amenities such as a club-house, gym, and more, aiming for a seven-star hotel experience.

    Mr. Ghosh emphasized the strategic location of the project, being within a 12 to 15-minute drive from the upcoming Ram Temple and just 20 minutes from the future international airport. With Ayodhya poised to become a spiritual capital and a significant tourist destination, the project holds substantial potential.

    The government’s plan to inaugurate the Ram Temple in January 2024, with Prime Minister Narendra Modi laying the foundation stone two years ago, adds to the project’s appeal and expected demand.

    HOABL anticipates interest in the project not only from across India but also from Non-Resident Indians (NRIs) worldwide. With customers already spanning 11 countries, the company aims to expand its global reach further.

    Looking ahead, HOABL has ambitious plans for a pan-India presence. Currently active in seven to eight locations, the company aims to expand to 12-15 locations next year and eventually be active in 40 to 45 locations within three to four years. With existing projects in places like Goa, Alibag, the Mumbai Metropolitan Region, and Uttar Pradesh, HOABL intends to further expand its presence in western, northern, and southern India.

    In January 2023, the company announced a substantial investment of over Rs 11,000 crore to acquire and develop 3,000-3,500 acres of land across the country over the next four years. They have already identified 55 locations for this purpose. Furthermore, during the Uttar Pradesh Global Investors Summit 2023 in February, HOABL expressed its intention to invest Rs 1,800 crore in over 600 acres of land for the development of integrated housing townships in the state.

    The company has already commenced land acquisition in Ayodhya and is planning to venture into markets in Varanasi, Gorakhpur, Mathura, and Vrindavan, as stated during discussions with Moneycontrol in February 2023.

    Also read: Abhinandan Lodha’s House and HDFC Capital Join Forces for Rs. 1,500 Crore Low-Rise Project Investments in India

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