The once lesser-known Bhogapuram region has suddenly been thrust into real-estate limelight. As land prices rise in the region, find out what’s making news here.
An aviation city, a Greenfield airport, an aero hub… with the government announcing a spree of ventures in Bhogapuram, the little known village has suddenly been thrust into the limelight with a flurry of real-estate activity happening there. The State government announced an international airport and surrounding that an aviation city. The Union government announced plans for an ‘aero hub’ on 10,000 acres of land in this Mandal. The result of these announcements has triggered a lot of land sales, with real estate investors purchasing lands in advance, with plans to develop it after the governments initiate work.
Bhogapuram is located on National Highway between Srikakulam and Visakhapatnam around 45 km away from Vizag city. It comes under the administrative jurisdiction of the Vizianagaram district. As many as 30 residential land-plot schemes have sprung up in and around Bhogapuram. Though high-rise buildings may not be allowed in the area due to its proximity to the airport, residential plots and group housing plots are popular preferences. People are keen on investing as land is affordable now, rather than 4-5 years later, when affordable land may not be available once the airport work initiates.
Precaution while making an investment has to be exercised, as there is still no clarity on exactly where in Bhogapuram the land will be acquired for the airport. Furthermore, VUDA approvals, adequate space for drainages and recreational facilities like parks and community halls and authenticity of the documents have to be taken into consideration. Though the Bhogapuram-Pydibhimavaram zone has become a major hub for real estate activity, it would take at least five years to a decade to reap the fruits of the hard-earned investments.