Introduction
Real estate in Visakhapatnam is changing quickly. The area between Bhogapuram and Vizag is now a favourite for people who want to buy land or invest. With the new airport coming up and better roads, more people are looking for plots for sale in Visakhapatnam and Vizianagaram. This growth is not just for locals, but also for people from other cities who want to settle in Vizag. In this article, we will see how the short distance between Bhogapuram and Vizag is making real estate in Visakhapatnam more popular.
Why Bhogapuram–Vizag Corridor is Special
The Bhogapuram–Vizag corridor is only about 40 to 45 kilometres long. But this small stretch is making a big difference. The government is building new highways and roads, so it is easier to travel between Bhogapuram and Vizag. Because of this, many people are now interested in buying plots for sale in Vizianagaram. These plots are not only affordable but also close to the city.
In the last few years, almost two-thirds of new real estate projects in Vizag are for plots. Most of these are near the new airport. The average price for property in Visakhapatnam is now around ₹5,200 per square foot, and it keeps going up every year.
Bhogapuram International Airport: A Game Changer
The biggest reason for the real estate boom is the new Bhogapuram International Airport. This airport will be able to handle millions of passengers every year. It is expected to open soon, and most of the work is already finished.
Some important facts
- The airport project and new roads cost more than ₹4,500 crore.
- Seven new roads are being built to connect the airport, costing ₹175 crore.
- Land prices near the airport have gone up by about 30% in just two years.
- Many new jobs will be created, so more people will need homes.
- Because of all this, there is a high demand for VMRDA plots for sale in Vizianagaram and Visakhapatnam.
Plots for Sale in Visakhapatnam and Vizianagaram: Why People Choose Them
People like to buy plots for sale in Visakhapatnam and Vizianagaram because they expect good returns. Areas like Bhogapuram, Tagarapuvalasa, and Anandapuram are very popular. Prices for plots here range from ₹12,000 to ₹26,000 per square yard.
If you look for VMRDA plots for sale in Vizianagaram, you will find many new layouts with good roads, parks, and other facilities. These plots are approved by the government, so buyers feel safe. This is why Vizag real estate is getting more attention from both families and investors.
Why VMRDA Approved Layouts Are Better
VMRDA stands for Visakhapatnam Metropolitan Region Development Authority. The approved VMRDA plots are extremely well planned out, and they are within the law. Have roads, drinking water, and a power supply. Trust of the people over these plots is even more while their selling price later is usually higher. A number of these plots are near or in gated communities, which are beneficial for families.
Visakhapatnam Real Estate in the Future
The professionals predict that the real estate market in Visakhapatnam will develop continuously. The new airport and better roads will contribute to the growth of companies and also the tourist industry. Accordingly, the number of people moving to Vizag will increase and they must necessarily have their own houses.
Facts
In the last five years, the prices of land in posh areas have surged by 30-40%. Rents are also rising as more people come to work in Vizag.
The government is making sure there are enough plots for sale in Visakhapatnam to meet the demand.
A recent study says that most new buyers in Vizag real estate want plots, not apartments. This shows that people prefer to build their own homes.
What We Can Learn from Other Cities
Cities like Bangalore and Hyderabad saw the same thing happen. When a new airport was built, land prices nearby went up a lot. For example, after the Bangalore airport opened, land prices in Devanahalli went up by almost 400% in ten years. Vizag could see the same kind of growth, especially in areas with VMRDA plots for sale in Vizianagaram and Visakhapatnam.
Conclusion
Real estate in Visakhapatnam is growing because of the Bhogapuram–Vizag corridor. The new airport, better roads, and planned layouts are making this area a top choice for buyers and investors. It is a very good time to buy land or invest in a VMRDA-approved layout in Vizag. The real estate sector of Vizag is highly promising and likely to open up a lot of market shares and a big ROI.
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