The prices in real estate in Alwar, in the Rajasthan 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 Alwar has had a strong decrease during the last 6 months. In December, the average price per sq.foot was ₹ 2,944. In January this price pretty much remained the same at a value of ₹ 2,940 per sq.foot. The price for the following two months in (February, March) decreased 87 % with regard to the prior two months. The price per sq.foot has had a considerable deflation of 53 % 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 ₹ 2,750.5 to ₹ 1,449 during April, and May.
Based upon to the price in Alwar (cities), this has fallen considerably in the last 6 months. In our first sample month during December, the average price is ₹ 32.74 lakhs. In January This price remains at ₹ 31.91 lakhs. During the following two months (February, March) the average price had a considerable reduction of 83 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from ₹ 29.58 lakhs to ₹ 18.76 lakhs, which means a 63 % fall.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 21.4 lakhs they are 43 % more affordable than the average price for Alwar. The properties with the highest average price have 4 BHK, Their price is 118 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 45.16 lakhs.
With regard to the average price per sq.foot , those properties with 2 BHK are the most costly ones at a cost of ₹ 2,081 / sq.foot, with an average ₹ 1,639 / sq.foot price in Alwar. The properties with the highest average prices have 3 BHK. They are 94 % more expensive than the average followed by properties with 4 BHK with a price at ₹ 2,981 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 21.4 lakhs it is 23 % cheaper than the average price in Alwar. "Flat" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Villa". At a price of ₹ 44.61 lakhs it is 1862 % 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 ₹ 1,088 / sq.foot followed by "Commercial" priced at ₹ 1,407 / sq.foot. "Villa" is the most costly type of property with a ₹ 3,380 / sq.foot cost followed by "House" with an average price of ₹ 2,898 / sq.foot.