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Ayodhya Development Authority Releases Lists of Approved Realty Projects to Protect Investors

The Ayodhya Development Authority has recently released a list of approved real estate projects and layouts to protect investors from fraudulent land deals. This move comes as a safeguard for those investing in Ayodhya's booming real estate market, especially non-resident investors who may be unaware of local land ownership complexities.

Following the inauguration of the Ram temple, the Ayodhya region has seen heightened activity from real estate brokers and agents. Unfortunately, many investors from outside Ayodhya have fallen victim to unscrupulous land deals due to a lack of proper verification processes. The Ayodhya Development Authority's initiative aims to address this issue by making a public list of ten approved real estate projects, ranging from 2,400 to 78,000 square meters, available to potential buyers.

The list Ayodhya Development Authority approved residential and commercial plots:

  • AFDA/LD/23-24/0978: "The Sarayu" Phase 2A through HOABL Realtech Private Limited covers plot numbers 4KHA/6, 76/1, 76/2, 76/3, 77, 78, 79, 80, 81, 82, 83, 84, and 85, with a total area of 28,379.8 sq.m.
  • AFDA/LD/23-24/0363: Rameshwaram State encompasses plot numbers 1336KA, 1337KA, and 1337 KHA, with a total area of 2,644.59 sq.m.
  • AFDA/LD/23-24/0696: "The Sarayu II" through HOABL Realtech Private Limited covers plot numbers 4Aa/10, 4Aa/13, 4Aa/18, 4Aa/4, 4Aa/7, 4E/5, and 4A/18, with a total area of 77,901.8 sq.m.
  • AFDA/LD/23-24/0431: "The Sarayu" covers plot numbers 4A/4, 4E/5, 4A/7, 4KHA/6, 4A/13, and 4AE/18, with a total area of 58,722.8 sq.m.
  • AFDA/LD/23-24/0201: Awadh Enclave Phase - 4 through Mrs. Manju, wife of Mr. Rishi Kant, covers plot number 283 with an area of 2,646.33 sq.m.
  • AFDA/LD/23-24/0200: Awadh Enclave Phase - 3 through Mr. Deepak Kumar, son of Mr. Sharda Prasad, covers plot number 283 with an area of 2,406.55 sq.m.
  • AFDA/LD/23-24/0198: Awadh Enclave Phase - 2 through Mr. Pawan Kumar, son of Mr. Sharda Prasad, covers plot number 283 with an area of 2,413.12 sq.m.
  • AFDA/LD/23-24/0199: Awadh Enclave Phase - 1 through Mr. Ravi Shankar, son of Mr. Sharda Prasad, covers plot number 283 with an area of 2,776.26 sq.m.
  • AFDA/LD/22-23/0406: Kalpvriksha Real Estate & Construction, owned by Sri Rajesh Arora, Sri Harsh Manucha, Smt. Nilima Arora, Sri Gopal Krishna Manucha, Sri Dilip Manucha, Sri Amit Manucha, and Smt. Pratima Manucha, covers plot numbers 502 and 504 with a total area of 3,140.83 sq.m.
  • AFDA/LD/22-23/0147: Deepak Ramani covers plot numbers 450, 458, 477, 479, 480, 485, 492, 511, 512, 494, and 510, with a total area of 29,186.1 sq.m.
Currently, the Ayodhya Development Authority regulates an area covering approximately 134 square kilometers, including 343 revenue villages. However, plans are in place to expand the authority's jurisdiction to 873 square kilometers in the future to accommodate further growth and development.

The real estate sector in Ayodhya has been buoyed by positive sentiments and speculative investments since the announcement of the Ram temple project. In response, real estate aggregators have aggressively marketed various plotting schemes over the past two years. However, not all these schemes have the necessary approvals and sanctions from competent authorities, leading to an increase in fraudulent transactions. For instance, a prominent trust was defrauded of ₹10 crore by a fraudulent real estate broker in an area near the Saryu river and its tributaries, prompting local authorities to issue a cautionary notice to investors in May of the previous year.

To combat these fraudulent activities, the Ayodhya Development Authority has been closely regulating private plotting schemes and their promoters. Ashwini Kumar Pandey, the Vice-Chairman of the authority, emphasized that the details of approved schemes are prominently displayed on the authority's website. This transparency is intended to guide investors towards legitimate projects and prevent them from falling prey to deceptive practices.

In the past, the Ayodhya Development Authority has floated its own 17 residential schemes and 10 commercial schemes. Recently, two schemes aimed at affordable housing for economically backward sections were closed. For the time being, the authority has no immediate plans to launch new schemes, as land acquisition for future projects is still in progress and is expected to take some time.

The recent publication of approved real estate projects by the Ayodhya Development Authority represents a proactive step towards fostering a safer investment environment. By promoting transparency and due diligence, the authority aims to build trust among investors and ensure the integrity of the real estate market in Ayodhya. This initiative also highlights the importance of regulatory oversight in preventing fraudulent activities and protecting the interests of legitimate investors.

The Ayodhya Development Authority's efforts to list approved real estate projects and enhance regulatory oversight are crucial measures to safeguard investors and maintain the credibility of the real estate market in Ayodhya. 

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