Real Estate: Real estate hopes rest on religious cities, development accelerated in these cities

Real Estate: Real estate hopes rest on religious cities, development accelerated in these cities

The effect of people's increasing inclination towards religion and spirituality is visible in various sectors of the economy. Amidst the new trends, while on one hand religious tourism has increased, there has also been a change in the real estate sector. Many big property developers are now moving from big cities to religious cities.

Projects being launched in these cities

Like Ayodhya, Varanasi, Vrindavan, Haridwar, Tirupati etc. Many big projects have been launched in religious cities in recent times. Big real estate developers are moving to these cities. Many Delhi and Mumbai based developers have acquired land and launched residential projects in these religious cities in the recent past.

Trend changing rapidly in spiritual tourism

ET In a report, such a claim has been made quoting many people associated with the real estate sector. The report shows that religious cities like Ayodhya, Varanasi, Vrindavan, Haridwar, Tirupati are in the focus of big developers. Encouraged by the boom in spiritual tourism, this change in the attitude of developers has come about. The effect of this is that new project launching activities are going on at a rapid pace in these cities.

People are getting attracted due to these reasons

People in the real estate sector believe that Cities having religious importance attract people a lot. For this reason people like to settle near religious centres. They include local people as well as outsiders, who are showing interest in buying houses in religious cities. People are interested not only for personal use but also for investment. People are liking religious cities with spiritual importance also because they can settle there after retirement.

These projects are indicating

According to the report, property Developer Ananth Raj has recently launched a project in Tirupati. It has 1,900 residential units. The project is expected to be completed by 2027. CREDAI recently organized a developers' program in Varanasi, in which many real estate companies expressed interest in buying land there. The Uttar Pradesh government has prepared a plan to build a township on 1000 acres in Ayodhya. After the inauguration of Ram Mandir, there is a huge boom in the property market in Ayodhya and the prices of land are skyrocketing.

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