The prices in real estate in Varanasi, in the Uttar Pradesh region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per sq.foot in Varanasi has fallen in the last 6 months. In October, the average price per sq.foot was ₹ 4,405. In the following month the price per sq.foot decreased to ₹ 4,103. The price for the following two months in (December, January) had a considerable decrease of 83 with regard to the prior two months. The price per sq.foot has had a considerable increase of 119 % 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 ₹ 3,884 to ₹ 4,625 during February, and March.
Based upon to the price in Varanasi (cities), these have remained the same in the last 6 months. In our first sample month during October, the average price is ₹ 53.76 lakhs. In November This price remains at ₹ 53.68 lakhs. During the following two months (December, January) the average price fell 87 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 116 % 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 ₹ 60.42 lakhs they are 64 % more affordable than the average price for Varanasi. The properties with the highest average price have 4 BHK, Their price is 50 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 65.91 lakhs.
With regard to the average price per sq.foot , those properties with 1 BHK are the cheapest ones at a cost of ₹ 4,039 / sq.foot, with an average ₹ 4,454 / sq.foot price in Varanasi. The properties with the highest average prices have 4 BHK. They are 19 % more expensive than the average followed by properties with 2 BHK with a price at ₹ 4,618 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 60.42 lakhs it is 48 % cheaper than the average price in Varanasi. "Flat" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of ₹ 65.07 lakhs it is 247 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "Land" at an average cost of ₹ 1,950 / sq.foot followed by "Flat" priced at ₹ 4,458 / sq.foot. "Commercial" is the most costly type of property with a ₹ 16,074 / sq.foot cost followed by "House" with an average price of ₹ 4,791 / sq.foot.