Property prices for rent in Bangalore (Karnataka)
The rent prices in real estate in Bangalore, in the Karnataka region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per sq.foot in Bangalore has risen strongly during the last 6 months. In April, the average price per sq.foot was ₹ 24.93. In the following month the price per sq.foot rose considerably to ₹ 61.6. The price for the following two months in (June, July) had a considerable rise of 143 %. The price per sq.foot has had a considerable fall of 50 % 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 ₹ 52.63 to ₹ 26.58 during August, and September.
When referring to the price in Bangalore (cities), this has risen considerably in the last 6 months. The average price during our first sample month during April, is ₹ 35,981. During May the price went through a considerable rise reaching ₹ 2.48 lakhs. During the following two months (June, July) the average price had a considerable rise of 164 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from ₹ 1.87 lakhs to ₹ 29,981, which means a 16 % fall.
The graph displaying the average rent price for BHK illustrates that those properties with 1 BHK are the most affordable ones. At a price of ₹ 36,816 they are 67 % more affordable than the average price for Bangalore . The properties with the highest average price have 4 BHK, Their price is 235 % more expensive than the average. After that we have properties with 3 BHK priced at ₹ 75,506.
With regard to the average price per sq.foot, those properties with 1 BHK are the most affordable ones at a cost of ₹ 19.68 / sq.foot, with an average ₹ 31.93 / sq.foot price in Bangalore. The properties with the most expensive average prices have 4 BHK. They are 8 % more expensive than the average followed by properties with 3 BHK with a price at ₹ 33.97 / sq.foot.
The graph displaying the average rent prices displays the property type "Land" as the most affordable one. At an cost of ₹ 36,816 it is 59 % more affordable than the average price in Bangalore. "Flat" is seen as the second most affordable property type. The most expensive property type is "Commercial" followed by "House". At a price of ₹ 1.03 lakhs it is 428 % more expensive than the average price.
According to the average cost per sq.foot, the most affordable property is "Office" at an average price of ₹ 13.47 / sq.foot followed by "Land" priced at ₹ 16.44 / sq.foot. "Villa" is the most expensive type of property with a ₹ 62.74 / sq.foot value followed by "Commercial" with an average price of ₹ 50.93 / sq.foot.
