Religious tourism is spurring real estate growth in India's pilgrim towns

Record tourist influx and government investments drive property prices up in temple cities

The pilgrim towns of India have caught the attention of developers. The real estate boom extends beyond Ayodhya, where the Ram temple was inaugurated in January. Religious hubs like Tirupati, Shirdi, Amritsar, Varanasi, Vrindavan, Dharamshala, and Haridwar are also attracting realtors.

According to the tourism ministry, India’s religious tourism sector saw 1,439 million tourists in 2022 and is expected to grow at a 16 per cent compound annual growth rate (CAGR) by 2030. The sector is projected to generate $59 billion in revenue by 2028 and create 140 million temporary and permanent jobs by 2030.

Real estate consultant Anarock noted