Property registrations shoot up in the district as well has in neighbouring Vizianagaram. The hurry to register properties was catapulted by the speeding up of works for Bhogapuram airport.
The situation is such that the eight sub-registrar offices in Vizag city raked in Rs 654 crore in the 2020–21 fiscal, a significant increase from Rs 595 crore in 2019–20. The offices achieved 81% of their total yearly target of Rs 801 crore.
The Madhurawada sub-registrar office raked in the highest revenue, Rs 141 crore, followed by Super Bazaar office which brought in over Rs 133 crore. Interestingly, the Bheemili sub-registrar office generated 107% of its target, Rs 61.95 crore.
Visakhapatnam district registrar K Manmadha Rao said that there is growing buzz around shifting of the capital to Vizag. The majority of land transactions took place in the city outskirts: Bheemili, Madhurawada and Gopalapatnam and Pendurthi.
Developments surrounding the Bhogapuram airport in Vizianagaram district have also created property demand at Anandapur. Vizianagaram district achieved 99% of its property revenue target in the 2020–21 fiscal, bringing in Rs 240 crore out of its target of Rs 241.8 crore. Of the 13 sub-registrar offices, Bhogapuram brought in the highest, Rs 37 crore, in revenue.
Vizianagaram district registrar M Srujana said, “We expect Vizianagaram to continue the same trend in terms of property registrations and revenue generation this fiscal as more and more people are coming to buy land and houses in the area between Vizag and Vizianagaram cities.”