By Rajat Shankar Lall
Sri Vijayapuram (formerly Port Blair), May 28: The capital of the Andaman and Nicobar Islands is rapidly transforming into one of India’s most closely watched real estate markets. Over the past decade, Sri Vijayapuram has evolved from a bureaucratic housing cluster into a steadily appreciating property destination, marked by rising land prices, growing private investment, and expanding urban limits.
Today, residential zones are fetching upwards of ₹2,500 per sq ft, while commercial hubs like Aberdeen Bazar boast prices over ₹13,000 per sq ft—comparable to mainland tier-2 cities. Apartments in Garacharma and Junglighat range between ₹65–₹80 lakh for 2-3 BHK units, and independent villas in city-core areas go for ₹1.5–₹2.1 crore. Commercial buildings in Aberdeen and Mohanpura command rates between ₹12,000 and ₹13,500 per sq.ft.
Key investment hotspots include Austinabad, which is witnessing rapid institutional and semi-commercial growth. Prothrapur and Shadipur remain residential favourites, while Calicut and Dollygunj attract middle-income homebuyers. Fringe areas like Chouldari and Bimblitan are now hotspots for plotted development, attracting investors looking for long-term appreciation.
Driving this boom are improved flight connectivity, digitised land records, and government-backed infrastructure projects like the Great Nicobar Island initiative. Yet, it is the rising tide of private interest and a maturing local market that are transforming the landscape into a competitive and aspirational zone.
A unique aspect of Sri Vijayapuram’s market is the influence of cooperative housing societies, which began in the 1980s with the Teachers’ Cooperative Society in Prothrapur. These member-governed communities offer affordability, transparency, and a strong social fabric. Flats in these societies are priced between ₹45 and ₹70 lakh, while plot prices fall between ₹2,200 and ₹3,200 per sq.ft. Recently, cooperatives have begun partnering with private developers to create semi-gated layouts in places like Bimblitan.
Buyers are advised to conduct thorough due diligence, verify title deeds, check land-use permissions, and ensure layouts have local authority approvals. With urban land becoming scarce, new buyers are exploring redevelopment, joint ventures, and peripheral plotted layouts. Financing is increasingly accessible through nationalised banks and NBFCs, offering favourable terms and fast processing.
Veteran consultant K. Bhaskar, who has tracked the market for over 60 years, observes:
“Land in Sri Vijayapuram is like gold. It may be limited in supply, but that’s where its strength lies. Buyers looking at 5–10 year horizons will surely benefit, especially in society-based or fringe plot investments.”
Looking ahead, Sri Vijayapuram’s real estate outlook remains promising. With its strategic location, limited land supply, and improving urban infrastructure, the city is uniquely positioned for long-term value appreciation.
For investors and families seeking stable, legally sound opportunities, the Sri Vijayapuram Real Estate Advisory Cell (SVREAC) offers vetted listings, legal assistance, and island-specific guidance. With informed choices and a long-term vision, Sri Vijayapuram continues to offer not just investment potential but also a peaceful island lifestyle.
