The rent prices in real estate in Chennai, in the Tamil Nadu 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 Chennai has risen strongly during the last 6 months. In November, the average price per sq.foot was ₹ 20.86. In the following month the price per sq.foot fell to ₹ 18.51. In the following two months the price per sq.foot has risen 112 %, going from ₹ 19.68 to ₹ 22.14 per sq.foot. The price per sq.foot has had a considerable rise of 140 % 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 ₹ 20.91 to ₹ 29.38 during March, and April.
When referring to the price in Chennai (cities), this has risen in the last 6 months. The average price for November is ₹ 27,031. During December the price had a considerable fall till ₹ 20,686. During the following two months (January, February) the average price fell 91 % 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 had a strong increase of 186 % during the last two months.
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 ₹ 57,983 they are 86 % more affordable than the average price for Chennai . The properties with the highest average price have 4 BHK, Their price is 15 % more expensive than the average. After that we have properties with 3 BHK priced at ₹ 16,982.
With regard to the average price per sq.foot, those properties with 3 BHK are the most affordable ones at a cost of ₹ 12.26 / sq.foot, with an average ₹ 33.24 / sq.foot price in Chennai. The properties with the most affordable average prices have 4 BHK. They are 30 % more affordable than the average followed by properties with 1 BHK with a price at ₹ 16.73 / sq.foot.
The graph displaying the average rent prices displays the property type "Land" as the most affordable one. At an cost of ₹ 57,983 it is 84 % more affordable than the average price in Chennai. "Flat" is seen as the second most affordable property type. The most expensive property type is "Commercial" followed by "House". At a price of ₹ 47,121 it is 2785 % more expensive than the average price.
According to the average cost per sq.foot, the most affordable property is "Flat" at an average price of ₹ 12.42 / sq.foot followed by "Land" priced at ₹ 13.57 / sq.foot. "Commercial" is the most expensive type of property with a ₹ 1.71 lakhs / sq.foot value followed by "House" with an average price of ₹ 417 / sq.foot.