The prices in real estate in Bhubaneswar, in the Orissa region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Bhubaneswar has had a strong decrease during the last 6 months. In August, the average price per sq.feet was ₹ 2,757. In the following month the price per sq.feet decreased to ₹ 2,367. The price for the following two months in (October, November) had a considerable decrease of 83 with regard to the prior two months. The price per sq.feet has barely changed in the last two months compared to the average price of the previous four months going from an average price of ₹ 2,338.75 to ₹ 2,315 during December y January
Based upon to the price in Bhubaneswar (cities), this has gone downing the last 6 months. The average price for August is ₹ 38.17 lakhs. During September the price had a slight fall till ₹ 32.6 lakhs. During the following two months (October, November) the average price fell 91 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of ₹ 33.86 lakhs and ₹ 35.39 lakhs between December and January.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 38.88 lakhs they are 47 % more affordable than the average price for Bhubaneswar. The properties with the highest average price have 4 BHK, Their price is 92 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 49.7 lakhs.
With regard to the average price per sq.feet , those properties with 1 BHK are the cheapest ones at a cost of ₹ 2,595 / sq.feet, with an average ₹ 2,703 / sq.feet price in Bhubaneswar. The properties with the highest average prices have 4 BHK. They are 35 % more expensive than the average followed by properties with 3 BHK with a price at ₹ 3,113 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 38.88 lakhs it is 51 % cheaper than the average price in Bhubaneswar. "Office" is seen as the second most affordable property type. The dearest property type is "Commercial Property" followed by "House". At a price of ₹ 50.35 lakhs it is 222 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of ₹ 800 / sq.feet followed by "House" priced at ₹ 2,711 / sq.feet. "Commercial Property" is the most costly type of property with a ₹ 10,132 / sq.feet cost followed by "Apartment" with an average price of ₹ 3,000 / sq.feet.