Bhogapuram Airport to Catalyze Real Estate Boom in Visakhapatnam

The greenfield Bhogapuram International Airport, located 45 km northeast of Visakhapatnam, is set to revolutionize the real estate sector and position the region as a key economic and logistics hub. This strategic development is anticipated to drive substantial growth and investment in the area.

Expressing optimism, sources in the construction sector are upbeat about the prospects. The airport, which is expected to be commissioned around June next year, is poised to attract significant interest from real estate developers and investors. Commuters currently have to take the National Highway and take a diversion near Vizianagaram, but this is set to change with the development of modern road infrastructure.

The Visakhapatnam Metropolitan Region Development Authority (VMRDA) has finalized plans to facilitate a modern 6-lane express road network between Visakhapatnam city and Bhogapuram in Vizianagaram district. This new road network will cut down the distance by 15 km, making travel more efficient and convenient. Additionally, VMRDA is proposing to lay 15 new roads, including several greenfield routes, to connect the airport and enhance regional connectivity.

The VMRDA, the Greater Visakhapatnam Municipal Corporation, and the roads and buildings department are collaborating to develop these roads at an estimated cost of Rs 390 crore. “The roads were proposed as the metro and flyover projects are being delayed, while the airport is likely to be commissioned around June next year,” a VMRDA official said. These roads are expected to accelerate the real estate sector significantly.

The strategic location of the airport, serving north Andhra and south Odisha, necessitates robust road connectivity projects to ensure seamless access from Visakhapatnam and other key cities. “These roads will accelerate the realty sector in a big way. Inquiries have started pouring in since the last three months with people asking about the value and location. Some of them have come from Hyderabad, Vijayawada, and Bangalore,” said AP chapter Credai chairman B Srinivas.

Srinivas told Deccan Chronicle that realtors have created 100 approved layouts between Bheemili and Bhogapuram on either side of the proposed six-lane express highway. Over the next six months, an additional 100 layouts will be added and put up for sale. However, the construction of apartments between Bhogapuram and Bheemili will take some time due to the vast space available between Madhuravada and Anandapuram.

Bheemili MLA Ganta Srinivasa Rao recently proposed that VMRDA construct 5,000 houses between Bheemili and Bhogapuram, either in the form of apartments or individual houses. This initiative is expected to further stimulate the real estate market and provide affordable housing options for the growing population.

The airport is also expected to attract more IT companies and the development of high-end hotels and resorts, such as the Oberoi, Mayfair, and Taj, which are planned to be built close to the airport and along the beach. These developments will further boost the real estate sector and enhance the region's appeal as a prime location for business and tourism.

However, the authorities are being cautious about the construction of high-rise buildings close to the airport, particularly in light of the recent Ahmedabad air crash. They will strictly enforce the airport funnel zone limits to ensure safety and compliance with aviation regulations.

Overall, the Bhogapuram International Airport is poised to be a game-changer for the region, driving economic growth, and transforming the real estate landscape in Visakhapatnam and its surrounding areas.