The prices in real estate in Amritsar, in the Punjab region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.foot in Amritsar has increased strongly during the last 6 months. In September, the average price per sq.foot was ₹ 1,754. In the following month the price per sq.foot increased considerably to ₹ 14,368. The price for the following two months in (November, December) had a considerable increment of 306 %. The price per sq.foot has increased 110 % 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 ₹ 16,380 to ₹ 18,061.5 during January, and February.
Based upon to the price in Amritsar (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during September, is ₹ 18.33 lakhs. During October the price went through a considerable rise reaching ₹ 1.67 crores. During the following two months (November, December) the average price had a considerable increase of 128 % 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 ₹ 1.05 crores to ₹ 58.57 lakhs, which means a 56 % fall.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 43.75 lakhs they are 38 % more affordable than the average price for Amritsar. The properties with the highest average price have 4 BHK, Their price is 58 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 38.32 lakhs.
With regard to the average price per sq.foot , those properties with 3 BHK are the cheapest ones at a cost of ₹ 4,153 / sq.foot, with an average ₹ 7,911 / sq.foot price in Amritsar. The properties with the highest average prices have 1 BHK. They are 3 % more expensive than the average followed by properties with 4 BHK with a price at ₹ 7,641 / sq.foot.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of ₹ 43.75 lakhs it is 42 % cheaper than the average price in Amritsar. "House" is seen as the second most affordable property type. The dearest property type is "Office" followed by "Villa". At a price of ₹ 1.71 crores it is 2353 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "Flat" at an average cost of ₹ 2,371 / sq.foot followed by "Farm" priced at ₹ 4,819 / sq.foot. "Office" is the most costly type of property with a ₹ 2.62 lakhs / sq.foot cost followed by "Villa" with an average price of ₹ 64,479 / sq.foot.