Property prices for sale in Madurai (Tamil Nadu)
The prices in real estate in Madurai, in the Tamil Nadu region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.foot in Madurai has increased strongly during the last 6 months. In October, the average price per sq.foot was ₹ 1,669. In the following month the price per sq.foot increased considerably to ₹ 3,886. In the following two months the price per sq.foot has barely changed, going from ₹ 2,777.5 to ₹ 2,870.5 per sq.foot. The price per sq.foot has had a considerable increase of 129 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.foot of ₹ 2,824 to ₹ 3,640 during February, and March.
Based upon to the price in Madurai (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is ₹ 20.93 lakhs. During November the price went through a considerable rise reaching ₹ 58.61 lakhs. In the following two months the average price has remained the same with regard to the previous two months from ₹ 39.77 lakhs to ₹ 38.67 lakhs. Based on an analysis of the first four prices and the last two months the average price has risen strongly 127 % during the last two months.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 54.89 lakhs they are 39 % more affordable than the average price for Madurai. The properties with the highest average price have 4 BHK, Their price is 51 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 60.28 lakhs.
With regard to the average price per sq.foot , those properties with 1 BHK are the cheapest ones at a cost of ₹ 3,440 / sq.foot, with an average ₹ 3,850 / sq.foot price in Madurai. The properties with the highest average prices have 2 BHK. They are 8 % more expensive than the average followed by properties with 3 BHK with a price at ₹ 4,127 / sq.foot.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of ₹ 54.89 lakhs it is 38 % cheaper than the average price in Madurai. "Villa" is seen as the second most affordable property type. The dearest property type is "Flat" followed by "Commercial". At a price of ₹ 1.17 crores it is 112 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "Commercial" at an average cost of ₹ 675 / sq.foot followed by "Villa" priced at ₹ 3,946 / sq.foot. "House" is the most costly type of property with a ₹ 7,079 / sq.foot cost followed by "Flat" with an average price of ₹ 4,711 / sq.foot.
