Land Prices Surge Up to ₹10 Crore an Acre Near Bhogapuram Airport Following Launch
Former sarpanch Kondapu Srinivasu Reddy said a cent (48 square yards) in Gudepuvalasa, the village closest to the airport, was currently being quoted at around Rs 14 lakh. He said land prices began rising after the Telugu Desam government proposed the airport project in 2015. The momentum increased after the YSR Congress government reduced the proposed acquisition to 2,203 acres and began acquiring land during 2022-23 at Rs 35 lakh per acre
Visakhapatnam: Land prices in villages surrounding the ASR (Bhogapuram) International Airport have surged following the airport’s launch by Prime Minister Narendra Modi last week, with investors stepping up enquiries for land along the airport corridor.
Real estate sources estimate that prices in the area have risen by 20 to 30 per cent since the successful validation flight in January 2026, with prime locations recording sharper appreciation.
The government acquired 2,203.26 acres in seven villages — Kancheru, Gudepuvalasa, Kavulavada, Ravada, A. Ravivalasa, Savaravalli and Munjeru — in Bhogapuram mandal of Vizianagaram district. Land left out of the acquisition has now become a focus of investor interest.
Former sarpanch Kondapu Srinivasu Reddy said a cent (48 square yards) in Gudepuvalasa, the village closest to the airport, was currently being quoted at around Rs 14 lakh. He said land prices began rising after the Telugu Desam government proposed the airport project in 2015. The momentum increased after the YSR Congress government reduced the proposed acquisition to 2,203 acres and began acquiring land during 2022-23 at Rs 35 lakh per acre.
According to Srinivasu Reddy, land prices in the seven villages subsequently rose to around Rs 2 crore an acre and are now being quoted at up to ₹10 crore an acre near National Highway 16 and around Rs 5 crore an acre in interior areas.
Bhaskar Rao Althi, a private clerk who served four panchayats in Bhogapuram mandal, said around 70 per cent of the land had been sold over the past decade. Farmers had been willing to sell as most of the land was rain-fed and lacked irrigation facilities, he said.
“Now the cost is around Rs 3 crore an acre in villages without proper roads and Rs 5 crore in areas with road connectivity,” Rao said.
Farmer Verrayya said investor enquiries had increased following the airport’s inauguration, particularly for commercial plots along the approach road between Gudepuvalasa and the airport.
The demand was also reflected in a recent auction of odd bits of land at Raghamanda in Denkada mandal, around seven kilometres from the airport. VMRDA chairman M.V. Pranav Gopal said the upset price was fixed at Rs 6,000 per square yard, but the highest bid crossed Rs 12,000.
District registrar K. Mohan Rao said land registration activity had been subdued five years ago but had picked up significantly in recent years.
Real estate developers expect prices to rise further as aerotropolis development, cargo facilities, maintenance, repair and overhaul (MRO) units, IT parks and data centres come up around the airport.
CREDAI Visakhapatnam city president E. Ashok Kumar said land prices were expected to see a further sharp increase once the airport became fully operational and associated industries developed in the surrounding area.