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Along with the construction of Ram temple in Ayodhya, the real estate business is also growing rapidly. Many real estate developers are investing in properties in Ayodhya. In this category, real estate developer The House of Abhinandan Lodha (HOABL) has invested around Rs 300 crore in Ayodhya. This investment has been made for 25 acres of land.
What are the details?
According to a top company official, HOABL plans to start the planned development project in January 2024. The company’s Chief Executive Officer (CEO) Samujjwal Ghosh said, “The project is located around 12 to 15 minutes from the Ram temple in Ayodhya. The company plans to invest around ₹1200 crore in three to four years (by December 2026). To invest.”
This stock has been earning continuously for 6 days, IPO came in at ₹32, experts said – now the price will go to ₹120
1200 crore investment
According to Samujwal Ghosh, the total investment for Ayodhya is around Rs 1200 crore. He further said – We have considered an initial investment of ₹ 300 crore for the first phase. ₹1200 crore is the amount we intend to invest over a period of three to four years.
Samujjwal Ghosh said the company has acquired 25 acres of land and is in the process of getting necessary regulatory approvals. The company is planning to sell 200-250 plots in Ayodhya after the inauguration of the Ram temple next year.
The company will issue 2 bonus shares for every 1 share, after this announcement the stock jumped sharply, the price touching ₹27.
Price of the plot
The price of the plot is expected to be more than ₹1.8 crore. Samujwal Ghosh told HT Digital that the cost of a 1250 sq ft plot could exceed ₹1.8 crore plus taxes. Along with this, the company wants to enter businesses like retail and hospitality.
where is the location
This project of HOABL is located on Lucknow-Gorakhpur highway and is about 12-15 minutes away from Ram Mandir. It is about 20 minutes away from Ayodhya airport. Let us tell you that the company announced at the Uttar Pradesh Global Investors Summit 2023 that it is planning to invest around ₹ 3000 crore in the state.