Bhogapuram Airport Boosts Land Prices by 30% in Visakhapatnam-Vizianagaram Corridor

Visakhapatnam: The successful test flight that landed at the upcoming Greenfield Bhogapuram International Airport has sparked a sharp increase in land prices across the Visakhapatnam-Vizianagaram growth corridor.

Market and real estate sources estimate that prices have risen between 20 per cent and 30 per cent in key pockets around the project site. Real estate dealers and developers operating in the corridor say the flight validation at the international airport has strengthened market sentiment and renewed investor interest. This has resulted in quick transaction closures and a marked rise in inquiries for land parcels, particularly in areas with direct connectivity to Bhogapuram.

Bhogapuram, Nellimarla, Kothavalasa, Tagarapuvalasa, Anandapuram, and parts of the Bheemili belt are among the areas witnessing increased demand, apart from select stretches closer to the Visakhapatnam expansion corridor. Market intermediaries noted that buyers are largely favoring land located along the approach roads, existing highways, and proposed infrastructure corridors.

“Earlier, investors had been cautious. After the validation flight, inquiries have increased substantially and deals are closing faster,” said CREDAI Visakhapatnam chapter president E. Ashok Kumar. According to him, the demand had earlier been driven mainly by long-term investors. Now, prices are being fueled by developers of layouts, housing, and commercial complexes, subject to zoning norms and statutory approvals.

Property consultants said buyers are increasingly insisting on properties with clear titles in approved layouts. Prices in some stretches have climbed sharply over the past few weeks. Industry observers pointed out that major infrastructure projects often lead to market re-evaluation once they cross key milestones. In the case of Bhogapuram, Ashok Kumar said the validation flight is seen as a sign of progress and operational readiness, encouraging both speculative and strategic buying in surrounding areas.

With the construction of the airport and related infrastructure progressing, Kumar said market participants expect demand to remain steady in the corridor, especially along the key routes between Bhogapuram and Visakhapatnam. The real estate market within the Bhogapuram region is projected to grow at a compound annual growth rate (CAGR) of 18 per cent to 22 per cent till 2028, driven by airport-led economic activities and an affordable land base. This positions Bhogapuram as one of the fastest-growing micro-markets in coastal Andhra Pradesh, said a realtor.

As per him, Bhogapuram is outpacing pricing in Vizag suburbs and Vizianagaram, making early investment critical for maximizing returns.