House of Abhinandan Lodha invests Rs 300 crore for a 25-acre land parcel in Ayodhya ahead of Ram Mandir inauguration

Source: Hindustan Times

The project is located about15 minutes from the upcoming Ram Mandir. The company plans to invest an amount of ₹1200 crore spread across three to four years Real estate developer, The House of Abhinandan Lodha (HOABL), has invested close to ₹300 crore for acquiring a 25-acre land parcel in Ayodhya and plans to launch a plotted development project in January 2024, a top official of the company told HT Digital.

"The project is located around 12 to 15 minutes away from the upcoming Ram Temple. The company plans to invest a total amount of around ₹1200 crore spread across three to four years (by December 2026)," said Samujjwal Ghosh, Chief Executive Officer (CEO), HOABL. 

“The total investment for Ayodhya is close to ₹1200 crore. We have looked at an initial investment of ₹300 crore for the first phase. Having said that, ₹1200 crore is what we intend investing for over a period of three to four years,” he said.

The company has acquired 25 acres of land and is in the process of getting necessary regulatory approvals. “The acquisition phase has reached a certain crescendo and parallel to that we are getting the regulatory piece in place as well. This will be plotted development. The 25-acre development will comprise plots along with amenities such as a clubhouse and other services,” he told HT Digital.