Bollywood Icon Amitabh Bachchan Acquires 2.67-Acre Ayodhya Plot for Rs 35 Crore
Ayodhya Land Deal Sees Amitabh Bachchan Invest Rs 35 Crore in Local Real Estate
The House of Abhinandan Lodha (HoABL) has announced the sale of a 2.67 acre land parcel in Ayodhya to Amitabh Bachchan for Rs 35 crore. The plot is situated near HoABL's flagship Sarayu development, a temple town in Uttar Pradesh where Bachchan already owns two additional plots.
AB Corp, Bachchan's family-owned enterprise, executed the sale on behalf of the actor. This investment marks his fourth with HoABL, with a previous purchase in their Sol De Alibaug project in Maharashtra's Alibaug sea resort. HoABL has stated that the sale reflects Bachchan's confidence in land as a long-term, inter-generational asset that preserves value.
Land prices in Ayodhya have increased significantly since the construction of the Ram Janmabhoomi Temple, driven by the development of allied infrastructure and the trend of religious tourism. Local developers, including HoABL, are capitalizing on this growth, with a focus on plotted projects, hotels, and resorts to accommodate the expected influx of tourists.
HoABL's existing Sarayu project includes a hotel operated by The Leela Palaces, Hotels, and Resorts, a Brookfield-owned chain. The company is expanding its portfolio with plotted development and villa projects in cities such as Dapoli, Nagpur, Vrindavan, and Mumbai. Additionally, HoABL has entered the vertical development business with an affordable housing project in Naigaon and secured plots for premium residential projects in south Mumbai.
Investor Takeaway
Investors may consider real estate opportunities in areas with growing religious tourism.
More in General
Correcting Credit Score Errors: A Guide to Ensuring Accurate CIBIL Reports and Optimal Loan Eligibility
Missing a Single EMI Payment Can Adversely Impact Credit Profile
EPF Withdrawal Comes with Tax Implications: A Guide to Understanding the Consequences
