The prices in real estate in Vijayawada, in the Andhra Pradesh 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.foot in Vijayawada has had a strong decrease during the last 6 months. In October, the average price per sq.foot was ₹ 21,991. In the following month the price per sq.foot increased to ₹ 24,162. 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 deflation of 68 % 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 ₹ 21,086.75 to ₹ 14,366.5 during February, and March.
Based upon to the price in Vijayawada (cities), this has gone up in the last 6 months. The average price during our first sample month during October, is ₹ 59.79 lakhs. During November the price went through a considerable rise reaching ₹ 73.49 lakhs. In the following two months the average price has remained the same with regard to the previous two months from ₹ 66.64 lakhs to ₹ 69.36 lakhs. During the last two months the average price has had a strong fall compared to the previous four going from ₹ 68 lakhs to ₹ 54.82 lakhs, which means a 81 % fall.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 54.59 lakhs they are 21 % more affordable than the average price for Vijayawada. The properties with the highest average price have 4 BHK, Their price is 121 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 74.58 lakhs.
With regard to the average price per sq.foot , those properties with 1 BHK are the cheapest ones at a cost of ₹ 4,847 / sq.foot, with an average ₹ 9,525 / sq.foot price in Vijayawada. The properties with the highest average prices have 4 BHK. They are 84 % more expensive than the average followed by properties with 2 BHK with a price at ₹ 9,263 / sq.foot.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of ₹ 54.59 lakhs it is 47 % cheaper than the average price in Vijayawada. "Flat" is seen as the second most affordable property type. The dearest property type is "Office" followed by "Villa". At a price of ₹ 1.25 crores it is 252 % 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 ₹ 2,237 / sq.foot followed by "Flat" priced at ₹ 3,665 / sq.foot. "Villa" is the most costly type of property with a ₹ 24,730 / sq.foot cost followed by "Land" with an average price of ₹ 23,291 / sq.foot.