The ionosphere around the northern crest of the equatorial ionization anomaly (EIA) and beyond exhibits rapid temporal as well as spatial development of ionization density irregularities during postsunset hours. A GPS campaign was conducted during September 2012 and April 2013 from the Institute of Radio Physics and Electronics, Calcutta (22.58°N, 88.38°E geographic; magnetic dip: 32°N), and North Bengal University (NBU), Siliguri (26.72°N, 88.39°E geographic, magnetic dip: 39.49°N) in India in order to assess and quantify differences, if any, in the nature of carrier to noise ratio (C/N0) fluctuations observed on the same satellite link around the same time interval from these stations. Significant decorrelation of the received signals was found when tracking the same satellite vehicle (SV) link from these stations during periods of scintillations. Low values of correlation coefficient of C/N0 at L1 frequency recorded on the same SV link at these two stations were found to correspond with high irregularity characteristic velocities. North‐south spatial displacement rates of the impact of ionospheric irregularities were calculated based on coordinated GPS observations which followed an increasing trend with irregularity characteristic velocities measured at VHF. Values of characteristic velocities in excess of 36 m/s were also found to result in large receiver position deviations ~3.5–4.0 m during periods of scintillations. Information related to time lag associated with occurrence of scintillations on the same SV link observed from two stations could be useful for improving performance of transionospheric satellite‐based position determination techniques.