The Vrindavan- Mathura- Braj region holds an exalted stature in India as a religious destination, Mr. Ankit Kansal, MD, Axon Developers expresses in this article. It is home to numerous popular Krishna temples including Banke Bihari, ISKCON, and Birla temple. There are over 2500 big and small temples in the region.
The region which also includes other popular destinations such as Gowardhan, Barsana, and Nandgaon receives close to ~ 100 million tourists each year, making it a true powerhouse when it comes to religious and spiritual tourism, especially in North India.
The region is also acclaimed for quant old-style bazaars and neighborhoods with hundreds of popular food stores, eateries, and handicraft stores. There are dozens of popular ashrams and yoga centers, further making it a doyen of spirituality and well-being in the country.
Meanwhile, Vrindavan holds a much larger potential and it won’t be wrong to assume that only a small portion of the market has yet been explored.
Large-scale developments are underway
To further develop Vrindavan’s real estate and hospitality sector, recently the government has initiated some large-scale development. The Banke Bihari corridor will be given a facelift, following an investment of INR 250 crores. The 500,000 Sq ft remodeling project will start from the banks of the Yamuna River and go to the main entrance area. Post development, the capacity will increase to 5,000 from the present 800.
A new greenfield expressway will be built starting from the Vrindavan exit of the Yamuna expressway and it will go all the way to the main premise of the Banke Bihari temple (~ 1.5 km). In the vicinity of the new expressway, a heritage city has been proposed with townships, hotels, motels, entertainment centers, and much more. YEIDA is the nodal agency to oversee the development of the township.
Can become the next hub of serviced living in North India
Vrindavan is situated in the midst of the golden triangle comprising Delhi- Agra- Jaipur. It is at a distance of just 90 mins from the Delhi NCR and easily accessible via the Yamuna expressway, which further makes it a suitable weekend getaway in North India. With the advent of the Jewar International Airport in 2024, Vrindavan’s overall connectivity will further improve.
Enhanced accessibility, popular image as a religious tourist destination, and increased infrastructure investments can make Vrindavan a sought-after serviced living destination.
Real estate in Vrindavan is small, unorganized, and in its nascent stages. Yet if the supply lines improve and there are ample opportunities to invest, homebuyers from all over India can flock to the region. Serviced apartments, 1 BHK, and studios can be a sweet spot, as for frequent visitors, it makes sense to own a home. Besides, self-use owning a home in a high tourist location such as Vrindavan can be instrumental in creating streams of rental income.
For high-value investors and buyers, vacation villas and row houses can be a great option too to park their money. Nothing can beat the idea of owning a compounded property in the tranquil and spiritually charged environs of Vrindavan.
The hospitality Industry will Thrive
It can be safely assumed that owning a hospitality venture in an evergreen tourist market such as Vrindavan will always give great returns. There are presently ~300 hotels and resorts in Vrindavan. However, there is a headspace for much more growth. The market is fertile for more hotels, resorts, lodges, banquet halls, etc. Already Japan-based HMI Group, Tee Resorts, and Taj Vivanta are coming up with high-end properties in the region.
Similarly, the market is conducive to the take-off of other complimentary verticals such as high street retails, apparel showrooms, F&Bs, cafes, fine dining restaurants, etc. Its proximity to Agra (~ 55kms) is also an added advantage as it is a perfect recipe to develop a larger tourism corridor in western UP.
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