Noida-based real estate firm Aurika Residences Pvt Ltd is set to invest ₹100 crore in developing a hospitality project in Ayodhya, Uttar Pradesh. The project will feature 150 serviced suites, managed by Best Western Hotels, and 16,500 square feet of retail space.
“We are launching a hospitality project in Ayodhya, with 150 serviced suites designed to cater to the growing demand from religious tourism,” said Prasoon Chauhan, Founder and CEO of Aurika Group.
Located on the revered 14 Koshi Parikrama Marg, the project is expected to be completed in three years. Chauhan added that the investment includes land costs and will be funded through internal accruals and bank loans.
The company plans to sell around 100 suites while retaining the rest. Additionally, the retail space will be leased to various retailers, creating a mixed-use property aimed at meeting the city’s diverse needs.
Chauhan also highlighted Aurika Group’s expansion strategy, which focuses on tier-II cities in North India. The company is actively seeking land in these regions, either through outright purchases or joint ventures with landowners, citing high demand for housing in smaller cities.
