Amitab Bachchan became Sarayu’s first citizen, and the chairman of HoABL expressed his excitement, calling it a historic day for his company. Bollywood actor Amitabh Bachchan has bought a plot in Mumbai-based developer The House of Abhinanadan Lodha’s (HoABL) seven-star mixed-use Ayodhya development, the Sarayu. Due to the client’s confidence, HoABL declined to comment on the deal’s size or value; however, real estate industry insiders stated that the 10,000-square-foot plot Bcahchan plans to move into I am excited to travel with the House of Abhinandan Lodha for the Sarayu in Ayodhya. A city has a special place in my heart, said Bachchan. The eternal spirituality and cultural diversity of Ayodhya have created an emotional bond that cuts across distances. This is the beginning of an emotional journey into the heart of Ayodhya, where modernity and tradition coexist harmoniously to create a rich emotional tapestry that really speaks to me. Building a house in the world’s spiritual capital is something I am looking forward to.
It takes four hours to get to the actor’s birthplace of Allahabad (now Prayagraj) from Ayodhya via National Highway 330. Abhinandan Lodha, chairman of HoABL, described it as a historic occasion for his company and expressed his joy at welcoming Bachchan as the first citizen of Sarayu, which is roughly 15 minutes from the Ram Temple and 30 minutes from the Ayodhya International Airport. His investment in our Ayodhya project, he added, shows his belief in the city’s economic potential and profound respect for its spiritual legacy. With Bachchan’s connection, the project will become a symbol of Ayodhya’s spiritual significance on a global scale.
Bachchan has invested in the planned development of the enclave, which will also feature a five-star palace hotel operated in collaboration with Leela Palace Hotels and Resorts, a company owned by the Brookfield Group. The goal is to have the project finished by March 2028. Since the Supreme Court granted the Hindus ownership of the site that once housed the Babri Majid in 2019, Ayodhya has seen massive infrastructure development. This has coincided with an increase in land prices both within the city and on its outskirts towards Lucknow and Gorakhpur. According to an evaluation conducted in October 2023 by Anuj Puri, chairman of Anarock Group, the city’s real estate market saw a nearly 25%–30% increase in price right after the decision.
Average prices for land on the outer edges of Ayodhya have risen anywhere from Rs 1500 per square foot to Rs 3000 per square foot, while prices within the city’s boundaries have increased from Rs 4000 per square foot to Rs 6000 per square foot. Accordingly, the average price has increased significantly between 2019 and 2023, he claimed. 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 world through the use of technology. The younger son of Maharashtra’s tourism minister, Mangal Prabhat Lodha, Lodha said,We had customers from 10 countries for our last project, with a total expenditure of Rs 2000 crore.