In the region of North Andhra, Bhogapuram Airport is being established as a real estate venture. With the commencement of services at this airport, experts are analyzing that the real estate sector here is experiencing significant growth. Due to this, along with the increase in population in three districts of North Andhra, there is anticipation of growth in hotel services, easy access to global markets, which is boosting the employment sector here, ultimately leading to excitement in the real estate market. With improved air connectivity, business activities and tourism opportunities are expected to increase.
Within 40 kilometers from Visakhapatnam to Bhogapuram Airport, there are already upcoming layouts of villas, apartments, and commercial centers. The Andhra Pradesh government, along with GMR Group, have entered into an agreement where land rates have increased significantly. Before the agreement, an acre of land was priced at Rs. 50 lakhs, but now it is reportedly increased to Rs. 2 crores. The airport is expected to have the Oberoi Group’s Seven Star Hotel just two kilometers away. The Taj Group is also planning to construct a hotel there. When Bhogapuram and Visakhapatnam come together, many believe it will emerge as another major city in the country. After the completion of the third phase of Bhogapuram Airport, it is estimated that it will serve 18 million passengers annually.”
