Land prices in Varanasi start soaring after PM’s announcement to turn it into a ‘’Smart City’’
Prime Minister Narendra Modi is all set to convert Varanasi into a ‘smart city‘. Varanasi is among one of the oldest cities in India and for many, Varanasi is about salvation. Indians believe that if they die in Kashi (Varanasi) then they will directly go to heaven. Itsghats, temples and narrow, dingy bylanes give the spiritually oriented a mystical high.
Our Prime Minister Narendra Modi landed in Osaka on Saturday and, within hours an MoU (Memorandum of Understanding) with the Japanese PM Shinzo Abe was signed. This MoU is meant to turn Varanasi into a ‘smart city’ with the help from Kyoto.
A top executive of an international realty consultant says he has been receiving frantic calls from his hotel clients in the past few days, enquiring about land prices and possible deals in the city. Among them is EIH Ltd, owner of the Oberoi hotels, which plans to build a luxury property there.
PRS Oberoi, the 80-year-old chairman of the group stated that Varanasi doesn’t have enough good hotels. Hence it makes a lot of sense for the Oberoi group to open a property there. PRS Oberoi mentioned that like Udaivilas in Udaipur and Vanyavilas in Ranthambore, they intend to open a luxurious state of the art property in Varanasi too. There is more and more interest in the city now because of the recent announcements.
Property brokers say prices of land in and around the city have already started to rise with builders and investors beginning to create land banks.
Source- The Economic Times
Land prices in Varanasi, modernisation of the cities, Modinomics, MoU, PRS Oberoi, Smart City, Varanasi
