The House of Abhinandan Lodha (HoABL), a Mumbai-based developer, has acquired a plot in The Sarayu, a seven-star mixed-use community in Ayodhya, from Bollywood actor Amitabh Bachchan. Real estate sector insiders stated that the land where Bachchan plans to build a residence was about 10,000 square feet and was valued at ₹14.5 crore. HoABL declined to comment on the size and value of the sale, citing client confidentiality.
The Sarayu is planned to be officially opened on January 22, the day Prime Minister Narendra Modi dedicates the Shri Ram Janmabhoomi Temple in Ayodhya. It occupies 51 acres. Amitabh Bachchan expressed his excitement about his involvement in the project by saying, “I am looking forward to embark on this journey with The House of Abhinandan Lodha for The Sarayu in Ayodhya, a city that holds a special place in my heart. The timeless spirituality and cultural richness of Ayodhya have forged an emotional connection that transcends geographical boundaries. This is a start of a heartfelt journey into the soul of Ayodhya, where tradition and modernity seamlessly co-exist, creating an emotional tapestry that resonates with me deeply. I am looking forward to building my home in the global spiritual capital.”
Since the Supreme Court gave the Hindus ownership of the site where the Babri Masjid was located in 2019, Ayodhya has seen major infrastructural development, which has coincided with an increase in land values both inside the city and outside it in the directions of Lucknow and Gorakhpur. According to an evaluation conducted in October 2023 by Anuj Puri, head of Anarock Group, the city's real estate market saw a about 25%–30% increase in price right after the decision. The average cost of land in Ayodhya has increased dramatically, with prices ranging from ₹1,500 to ₹3,000 per square foot on the outskirts and from ₹4,000 to ₹6,000 per square foot within the city limits. As a result, the average price between 2019 and 2023 has increased significantly," he stated.
HoABL, which was established in 2021, is recognized for introducing transparency into the land purchase process and for making it feasible to purchase land anywhere in the globe via the use of technology. According to Lodha, who is the younger son of Maharashtra's tourism minister Mangal Prabhat Lodha, "we had customers from 19 countries for our last project." HoABL also has plans develop four other luxury hotels in Benares, Vrindavan, Shimla and Amritsar with total investment of ₹2,000 crore.
