LAKKUNDI (GADAG): Once a quiet heritage village, Lakkundi is now witnessing a land rush few could have imagined.
Barely two years ago, in 2023, agricultural land near Lakkundi and along the national highway was priced at around Rs 50 lakh per acre. Within two years, the prices have nearly doubled, touching an all-time high for the region.
Real estate agents and experts attribute the sharp rise to the village’s growing heritage value and improved connectivity through the national highway.
The Tourism Department’s decision to launch a major excavation series in and around Lakkundi has significantly altered the village’s prospects.
Villagers hope that the excavation will unearth historical artefacts and treasures, paving the way for better rehabilitation and housing. Some residents with large ancestral houses expect the government to provide alternative homes proportionate to their existing site areas. A septuagenarian resident said his family owns a two-storey ancestral house and hopes the government will provide a ‘good house’ in return, as they are leaving behind homes built by their forefathers.
Several villagers present at the excavation sites said they should not be given houses under schemes like Awas Yojana, but proper replacement homes, considering the heritage value of their existing properties.
But, farmers expressed concern that agricultural land may be converted into residential sites, fuelling speculative price spikes. With the national highway offering seamless connectivity and growing talk of a ‘New Lakkundi’ heritage zone, investor interest has risen sharply.
Coinciding with this, reports of gold found in one of the residential areas here have once again brought the village into public discussion.
Renovation of temple
Real estate agents are waiting to see if the government orders a large-scale evacuation of the village, while some villagers hope for such a move as they will get better housing.
Footfall to the village increased significantly after the Lakkundi temple tableau was selected for the Republic Day parade in New Delhi, bringing the village into national focus. With that, the interest in purchasing land too surged, pushing prices near the heritage village close to Rs 1 crore per acre.
Realtors stepped up efforts to attract investors after excavation of historic monuments began towards the 2024-end. The temple renovation work started in 2025, raising hopes that Lakkundi could emerge as a major heritage destination.
Tourism Minister HK Patil has also spoken about efforts to secure a UNESCO tag. Many believe Lakkundi is an attractive long-term investment because of its historical significance and fertile soil. Professionals from Gadag have begun enquiring about agricultural land. Sustained demand over the past year has been a key factor behind the rise. Basavaraj Garajappanavar, a resident, said, “The national highway has always been close to Lakkundi, but there was no price hike earlier. Now, with plans for a new heritage village, outsiders are coming to buy land, and middlemen are pushing up prices,” he said.
Veeresh Hiremath, a real estate company owner from Gadag, said, “We are searching for land near Lakkundi mainly because of the national highway and the possibility that the village will soon gain major historical importance after the excavation. Converting land into residential plots will fetch good returns,” he said. Lakkundi Panchayat development officer Ameer Nayak said farmland prices have increased mainly due to tourism-related works which is a good news for farmers.