Bhogapuram Airport Corridor Sees 30% Land Price Surge Post-Validation Flight

Visakhapatnam: The successful validation flight that touched down at the upcoming Greenfield Bhogapuram International Airport has sparked a significant uptick in land prices across the Visakhapatnam-Vizianagaram growth corridor. Market and real estate sources estimate that prices have surged between 20% and 30% in key areas surrounding the project site.

Real estate dealers and developers operating in the corridor say the flight validation has bolstered market sentiment and reignited investor interest. This has led to quicker transaction closures and a notable 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 regions experiencing increased demand, along with select stretches closer to the Visakhapatnam expansion corridor. Market intermediaries report that buyers are predominantly favoring land located along the approach roads, existing highways, and proposed infrastructure corridors.

“Earlier, investors were being 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 previously 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 note that 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 reach 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% to 22% until 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, a realtor noted.

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