Unity GameObjects flickers at point of intersection

Hello Guys, I am working on a flight simulation game. I am facing objects flickering problem with my environment.
Attached is the image where iv highlighted the problematic area with red. There is a terrain and water (a plane having water texture) they flicker at the point of intersection when camera is moved.
Flickering becomes fast with the movement of camera. Please advise what could be done to avoid this flickering issue.

Thanks in advance

[20878-screen+shot+2014-01-20+at+9.24.13+pm.png|20878]

Try anti-aliasing first and see if it changes anything. My guess on what causes the flickering is that two objects are trying to occupy the same position causing what is known as “z-fighting”.