Feasibility and Market Research Services for Starting New Projects in Ayodhya

Since the Supreme Court verdict in 2019, Ayodhya is registering a momentous shift in its economic growth. According to the Feasibility Services in Ayodhya the investments have racked up in various spheres encompassing infrastructure, urban development, hotels, real estate, and much more.

Just a day after consecration of the Ram Statue, more than 500,000 visitors came to the holy city. Devotees from all over the world will come to Ayodhya in coming days, making it a tourism powerhouse. As a spiritual center, Ayodhya will be at par with other major religious hubs in the world such as Vatican and Mecca.

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As Ayodhya transforms into a massive tourism market, its overall consumer economy also will get a shot in the arm. Similarly, its growing popularity and global repute will drive investments in the real estate industry as well.

Kick to Infrastructure

The city of Ayodhya is witnessing tremendous growth in infrastructure as per the Market Research in Ayodhya. GOI has unveiled a Masterplan 2031, under which more than Inr 80,000 crores (USD 11 billion) will be spent to develop high profile infrastructure projects. Already work is undergoing on ~ 180 projects worth more than Inr 30,000 crores (USD 4.11 billion).

A new greenfield airport has opened in Ayodhya following an investment of Inr 1450 crores. The existing railway station and bus stand has been given facelift with a cumulative cost of more than Inr 450 crores.

The NHAI is working on roadways and highways projects in and around Ayodhya, worth ~ 10,000 crores. The two lane highways have been expanded to 4 to ensure smooth and fast commute.

Two new township projects has been announced, out of which one will be mega project built at a whopping cost of Inr 16,500 crores. The mega project will spread across 1800 acres of land and will comprise residential projects, hotels, guest houses, ashrams, spiritual centers. The land acquisition of the project has begun and it is expected that in another 5 years the township will be ready.

Gold rush amongst hospitality players

The biggest beneficiary of the mega temple project is the tourism industry in Ayodhya. The city received 22.3 million tourists in 2023. In 2024, the annual tourist arrival in Ayodhya is set to reach 54 million, making it a tourist destination of global repute. This is naturally drawing attention of big hospitality players such as IHCL, Radisson, Kamat, ITC, Marriott, etc.

IHCL is working on 3 large hospitality projects under the brand name of SeleQtions, Taj Vivanta, and Lux Ginger. The projects which will `comprise around ~ 400 rooms in total will be completed by 2027.

The Feasibility Services for Hotels in Ayodhya shows that Radisson is also working on an 80 room project namely Park Inn. Other major premium brands such as Marriott and ITC are also planning big projects in the temple town. In the mid-scale segment Kamat Hotels will soon inaugurate a 50 room hotel. The hospitality player has also shown interest in developing two new projects comprising ~ 100 additional rooms.

In the budget category, OYO hotels are aggressively expanding its footprint. The hospitality player is working on ~ 65 projects with more than 1000 rooms.

Alongside signature hospitality, Ayodhya also has the potential to become a thriving ground for alternative long rental markets such as villas, eco hotels, and homestays. Already 600+ homestays are active in the city.

The government is also working on a slew of other tourism projects such as amusement parks, jetties, river front development, modern bazaars, and much more. Ayodhya in the past was a 0.5-1 day destination. Nevertheless, now it is transformed into a 3-4 day destination, with systematic investments in a host of other tourist facilities.

Big Developers are Eyeing the Ayodhya Market

Hospitality players are focusing more on the central parts of the city (3-4 kms radial distance from the temple premise). In the outer Ayodhya city and towards the highway, realty players are extending their foothold.

Due to growth of Ayodhya’s economy and Feasibility Services for Real Estate in Ayodhya dones is a proof that the job market will rise. This will fuel demand for homes and residential apartments. Meanwhile, many HNIs will vie to own a land piece in Ayodhya due to its unrivalled religious and spiritual significance. This will translate into the demand for plotted developments, second homes, retirement homes, etc.

Already The House of Abhinandan Lodha has announced a 51 acre mega project worth Inr 3000 crores. Numerous other developers are also contemplating to own land parcels in the Ayodhya region. Many however are waiting to get a better clarity on the land ownerships policies.

High demand for F&B and Retail

Presently there are plenty of good eateries in Ayodhya, but is mostly local run business. Soon the number of branded eateries such as restaurants, cafes, QSRs, ice cream parlors, bakeries, etc. will rise in Ayodhya. The Feasibility Services for Real Estate in Ayodhya has already attracted the reputed brands such as Burger Singh, CCD, and Dominoes are operational in the Ayodhya-Lucknow highway. As the number of tourists will rise, more will join the bandwagon.

Similarly, Ayodhya can also become a leading manufacturing hub in the state of UP. UK’s leading defense manufacturing company Trafalgar Square Capital has pledged an investment of Inr 75,000 Crores to set-up production units in the district of Ayodhya. There have also been numerous investments in other prominent sector such as design studio, paper, higher education, bottling plants etc.

Market research and feasibility study services in Ayodhya and nearby regions

As new businesses and developments will grow in Ayodhya and nearby region, demand for market research and Feasibility Services in Ayodhya will also thrive. It is noteworthy that Ayodhya is still a relatively unexplored market. Hence, before committing a big investment, it is advisable to carry out a market study, as this will enable in making better business decisions.

As market research and feasibility study advisory, The India Watch can be helpful. We can help business owners and investors with custom research solutions. Our range of services include the following

1. Feasibility and viability studies for new residential, commercial, and mixed-use projects.

2. Commercial viability and developmental advisories for new hotels, resorts, rental villas, etc.

3. Feasibility Services for Hotels in Ayodhya for new restaurants, cafes, QSRs, etc.

4. Market estimation and feasibility studies for businesses which are planning to establish manufacturing set-ups in Ayodhya.

5. Market Research in Ayodhya for consumer retail companies.

6. Market analysis and feasibility studies for malls, shopping complexes, arcades, etc.

For any further information, drop us a mail at info@theindiawatch.com

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