Bhogapuram Airport To Boost Property, Commercial Development in North Andhra
Visakhapatnam: The Bhogapuram International Airport would have a substantial impact on real estate sector in the North Andhra region. It will significantly improve travel logistics and hotel services, enhance access to global markets and stimulate industrial growth in these districts.
The improved air connectivity will support business operations and travel opportunities.
The 40km road to Bhogapuram airport from Visakhapatnam is dotted with layouts on either side, which would soon have villas, apartments and commercial centres. The prices have shot up after the MOU was signed between the AP government and the GMR group.
“The rate was Rs 50 lakh per acre before the MoU. It is now being quoted at Rs 2 crore per acre,’’ said CREDAI city president B Srinivas.
“The seven star Oberoi group hotel is just two km away from the airport. The Taj group is planning a project close by. There would be a flurry of developmental activities of international standards in the vicinity. For the first time we might have round-the-clock business activity due to the presence of the airport,’’ Srinivas said.
He said, “Combined with Bhogapuram, Visakhapatnam might emerge as one of the biggest cities in India.”
Another realtor said that after completion of the third phase, the airport would carry 18 million passengers per annum.
Vizag-based real estate agent S Sitaram said, “Vizag will develop on its own. It does not require support from any quarter. Vizag is the first option for Andhraites to build a home as it is already endowed with all the facilities for a comfortable living.”
The airport's presence is also anticipated to drive business development in Vizianagaram, a recognized hub for textiles and essential commodities. This, in turn, will foster social and civic infrastructure development, increasing the region's appeal to businesses and residents alike.
