Monday, April 09, 2018

Political heat takes its toll on realty deals in airport area

Vizianagaram/Srikakulam: Realty transactions in and around proposed Bhogapuram international airport came down significantly with the lack of interest among the property buyers, thanks to skyrocketing prices and latest political developments.

Many realty companies have come with many ventures with attractive names to make a fast buck by projecting huge growth in the vicinity of Bhogapuram airport area. A square yard cost touched even ₹15,000 after the government took steps for the completion of land acquisition for the airport. Its strategic location between Srikakulam and Visakhapatnam national highway has also helped in creation of demand for lands at proposed airport.

Land rates have gone up between Vizianagaram-Denkada-Bhogapuram route, Vizianagaram-Dharmapuri-Bhogapuram route and Natavalasa-Vizianagaram route.
One could find more than 50 ventures in those routes. However, the euphoria has gone with the sudden political developments and resignation of Union Minister for Civil Aviation P.Ashok Gajapati Raju who represents Vizianagaram Parliamentary Constituency.
09/04/18 K. Srinivasa Rao/The Hindu