Property prices for rent in Chennai (Tamil Nadu)
The rent prices in real estate in Chennai, in the Tamil Nadu region have slightly risen in the last couple of months. There has been a rise in the rent prices in this city.
The price per sq.foot in Chennai has risen during the last 6 months. In October, the average price per sq.foot was ₹ 23.58. In the following month the price per sq.foot rose to ₹ 24.99. In the following two months the price per sq.foot has practically remained the same, going from ₹ 24.28 to ₹ 24.19 per sq.foot. The price per sq.foot has had a considerable rise of 118 % 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 ₹ 24.24 to ₹ 28.55 during February, and March.
When referring to the price in Chennai (cities), there have hardly been any changes in the last 6 months. In our first sample month during October, the average price is ₹ 34,813. In November This price remains at ₹ 34,460. In the following two months the average price has hardly changed with regard to the previous two months from ₹ 34,636.5 to ₹ 32,930.5. Based on an analysis of the first four prices and the last two months the average price has increased 111 % 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 ₹ 34,990 they are 79 % more affordable than the average price for Chennai . The properties with the highest average price have 4 BHK, Their price is 190 % more expensive than the average. After that we have properties with 3 BHK priced at ₹ 35,088.
With regard to the average price per sq.foot, those properties with 1 BHK are the most affordable ones at a cost of ₹ 15.56 / sq.foot, with an average ₹ 27.5 / sq.foot price in Chennai. 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 ₹ 22.94 / sq.foot.
The graph displaying the average rent prices displays the property type "Flat" as the most affordable one. At an cost of ₹ 34,990 it is 69 % more affordable than the average price in Chennai. "Land" is seen as the second most affordable property type. The most expensive property type is "Duplex" followed by "Villa". At a price of ₹ 92,676 it is 287 % 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 ₹ 14.83 / sq.foot followed by "Land" priced at ₹ 19.86 / sq.foot. "Villa" is the most expensive type of property with a ₹ 73.61 / sq.foot value followed by "House" with an average price of ₹ 32.96 / sq.foot.
