The prices in real estate in Bangalore, in the Karnataka region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per sq.foot in Bangalore has fallen in the last 6 months. In September, the average price per sq.foot was ₹ 5,782. In October this price pretty much remained the same at a value of ₹ 5,768 per sq.foot. The price for the following two months in (November, December) had a considerable decrease of 79 with regard to the prior two months. The price per sq.foot has increased 107 % 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 ₹ 5,159 to ₹ 5,525 during January, and February.
Based upon to the price in Bangalore (cities), this has fallen considerably in the last 6 months. The price in September is ₹ 85.98 lakhs, rising in October till ₹ 96.16 lakhs. During the following two months (November, December) the average price had a considerable reduction of 64 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 93 %, going from ₹ 74.81 lakhs to ₹ 69.21 lakhs in January and February.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 64.73 lakhs they are 10 % more affordable than the average price for Bangalore. The properties with the highest average price have 4 BHK, Their price is 291 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 1.05 crores.
With regard to the average price per sq.foot , those properties with 2 BHK are the cheapest ones at a cost of ₹ 5,715 / sq.foot, with an average ₹ 5,932 / sq.foot price in Bangalore. The properties with the highest average prices have 4 BHK. They are 49 % more expensive than the average followed by properties with 3 BHK with a price at ₹ 6,638 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 64.73 lakhs it is 11 % cheaper than the average price in Bangalore. "Flat" is seen as the second most affordable property type. The dearest property type is "Office" followed by "Villa". At a price of ₹ 2.24 crores it is 408 % 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 ₹ 3,876 / sq.foot followed by "Flat" priced at ₹ 6,028 / sq.foot. "Office" is the most costly type of property with a ₹ 11,817 / sq.foot cost followed by "Commercial" with an average price of ₹ 10,851 / sq.foot.