July 12, 2023: Real estate developer The House of Abhinandan Lodha (HoABL) has announced an investment of Rs 1,200 crore solely dedicated to the development of Ayodhya. The decision comes in line with the vision of the government to establish Ayodhya as the global spiritual capital, as highlighted during the UP Global Investors Summit held in February 2023. HoABL has already been engaged in extensive fieldwork for over a year and is set to launch its inaugural project soon.
Samujjwal Ghosh, CEO, The House of Abhinandan Lodha, said, “Our commitment of Rs 1,200 crore investment in Ayodhya marks a significant milestone in our dedication to the region’s growth and development. The opening of our office here stands as a testament to our unwavering commitment to fostering progress and prosperity in this historic city. It will not only serve as a base for our operations but also symbolise our deep-rooted belief in Ayodhya’s immense potential. We aim to catalyse economic opportunities, empower local communities, and contribute to the historic transformation of this city.”
Sanjeev S Ralhan, CSO, The House of Abhinandan Lodha, said, “With Ayodhya’s rich cultural heritage and the government’s visionary efforts, the city is set to attract a significant influx of tourists and visitors. Our investment of Rs 1,200 crore in Ayodhya is a strategic move to capitalise on this growth and contribute to the city’s development. Ayodhya’s transformation into a global spiritual capital opens doors to new avenues for success, and we are eager to be at the forefront of this exciting journey.”
The House of Abhinandan Lodha has recently established a new office in Ayodhya, which will serve as a base for their operations in the region. The inauguration of the new office in Ayodhya was attended by esteemed guests and dignitaries including Champat Rai, general secretary of Shri Ramjanmbhoomi Teerth Kshetra Ayodhya, Girishpati Tripathi, mayor of Ayodhya, Gaurav Dayal, divisional commissioner and chairman of Ayodhya Development Authority, and Vishal Singh, vice-chairman of Ayodhya Development Authority and Commissioner of Nagar Nigam Ayodhya.
Champat Rai, general secretary of Shri Ramjanmbhoomi Teerth Kshetra Ayodhya, said, “We are delighted to witness such a substantial commitment by The House of Abhinandan Lodha towards the development of Ayodhya. Their acknowledgement and dedication is a testament to the immense potential of our city as a global spiritual capital. This investment will undoubtedly contribute to Ayodhya’s growth and transformation, further solidifying its significance on the world stage.”
Gaurav Dayal, divisional commissioner and chairman of Ayodhya Development Authority, said, “The House of Abhinandan Lodha’s commitment to investing Rs 1,200 crore in Ayodhya is a significant milestone for the city’s development. This partnership reflects the confidence and belief in Ayodhya’s potential as a global spiritual capital. With their expertise and investment, we are confident that Ayodhya will flourish and become a world-class destination.”
Vishal Singh, vice-chairman of Ayodhya Development Authority and commissioner of Nagar Nigam Ayodhya, added, “The House of Abhinandan Lodha’s investment aligns perfectly with the ongoing infrastructure projects and the government’s vision for Ayodhya. Together, we can create a vibrant and inclusive city that offers a world-class experience to residents and tourists alike. This investment will undoubtedly catalyse Ayodhya’s growth and elevate its global standing.”
The timing of The House of Abhinandan Lodha’s investment coincides with the anticipation of a significant increase in tourist footfall following the inauguration of the Ram Temple by January 2024. Recognising this potential, the Uttar Pradesh Cabinet has recently approved projects worth Rs 465 crore for the development of infrastructure in Ayodhya. These projects include the expansion and beautification of the 2-km “Dharma Path” road, the development of tourist amenities and resting places, as well as the expansion of the Pancha Kosi Parikrama Marg and the 14 Kosi Parikrama Marg. Additionally, the ongoing construction of the Ayodhya airport is expected to be completed by September 2023, further enhancing the accessibility and connectivity of the region.
Samujjwal Ghosh,stated,”The government’s vision for Ayodhya aligns perfectly with our investment plans. With the upcoming infrastructure developments and the inauguration of the Ram Temple, Ayodhya is set to become a global destination.”
In addition to Ayodhya, HoABL has also pledged Rs 3,000 crore investment in Uttar Pradesh.
