Global Middas Capital Fund Backs Mega Religious Tourism Project in Uttar Pradesh

New Delhi : Global Middas Capital Fund (GMCF) announced plans on Monday to fund its first religious tourism real estate venture in Uttar Pradesh, targeting the growing influx of pilgrims to the sacred town of Shukratal. Dubbed the GYAN Wellness Project, the 25-acre development along the banks of the Ganga River will feature farmhouses, plots, and flats, aiming to cater to devotees flocking to the area, particularly during the annual Kartika Purnima festival in October-November.

The announcement, made during a press briefing in New Delhi earlier today, underscores GMCF’s push into a niche yet burgeoning segment of India’s real estate market. Sardar Inder Preet Singh, Chairman of GMCF, emphasized the need for affordable housing options near religious hubs. “Places like Shukratal draw millions of devotees annually,” Singh said. “This project is about creating accessible investment opportunities while tapping into the rising tide of religious tourism.” He noted that the initiative aligns with Uttar Pradesh Chief Minister Yogi Adityanath’s vision to develop Shukratal alongside other spiritual centers like Kashi and Mathura, with administrative efforts already underway.

Spanning the Shukarteerth area, the project is being positioned as more than just a real estate venture. Adding a spiritual dimension, the Satkarmic Mission will establish an ashram on the site, featuring a Maa Baglamukhi temple, a Radha Krishna Mandir, and a Gurudwara Sahib for devotees.

Aman Bandvi, a director at GMCF and a key strategist, described it as a step toward sustainable development. “We’re building a self-contained green ecosystem that prioritizes accessibility and environmental conservation, in line with global sustainability goals,” Bandvi said. The focus on eco-friendly design could set a precedent for similar projects in India’s religious tourism belt.

The technological backbone of the project will come from the India Blockchain Alliance (IBA), which plans to integrate advanced systems to enhance transparency. IBA founder Raj Kapoor outlined ambitions for real estate fractionalization—allowing smaller investors to own stakes—and real-time dashboards to track progress. “This is about trust and measurable impact,” Kapoor said, hinting at a model that could redefine how such projects are managed and marketed.

Harmeet Singh, a director at Global Middas Project Management Consultancy (GMPC)—the project’s developer—spoke of broader goals beyond construction. “We’re committed to compliance, investor confidence, and the all-round development of the region,” Singh said, expressing optimism about Uttar Pradesh’s leadership in fostering growth. While financial specifics remain under wraps, the involvement of GMCF signals significant backing for the initiative.

Bibi Harleen Kaur, framed the project as a bridge between faith and wellness. “This will bring people closer to nature and enhance their spiritual journey,” she said, highlighting the ashram’s role in complementing the development.

With Shukratal already a priority for state-led development, the GYAN Wellness Project could mark a turning point for religious tourism in Uttar Pradesh. As plans take shape, the initiative will likely draw attention from investors and policymakers alike, balancing economic potential with cultural significance.