The prices in real estate in Bareilly, in the Uttar Pradesh 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 Bareilly has had a strong decrease during the last 6 months. In July, the average price per sq.foot was ₹ 5.14 lakhs. In the following month the price per sq.foot decreased considerably to ₹ 3,831. The price for the following two months in (September, October) had a considerable decrease of 2 with regard to the prior two months. The price per sq.foot has had a considerable deflation of 6 % 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 ₹ 1.32 lakhs to ₹ 7,286 during November, and December.
Based upon to the price in Bareilly (cities), this has fallen considerably in the last 6 months. The average price for July is ₹ 60.62 lakhs. During August the price had a considerable reduction till ₹ 49 lakhs. During the following two months (September, October) the average price fell 91 % 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 ₹ 52.25 lakhs to ₹ 26.95 lakhs, which means a 52 % fall.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 27.24 lakhs they are 34 % more affordable than the average price for Bareilly. The properties with the highest average price have 4 BHK, Their price is 439 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 48.7 lakhs.
With regard to the average price per sq.foot , those properties with 1 BHK are the most costly ones at a cost of ₹ 3,094 / sq.foot, with an average ₹ 2,328 / sq.foot price in Bareilly. The properties with the highest average prices have 4 BHK. They are 177 % more expensive than the average followed by properties with 3 BHK with a price at ₹ 3,660 / sq.foot.
The graph displaying the average prices displays the property type "House" as the most costly one. At an cost of ₹ 27.24 lakhs it is 44 % more expensive than the average price in Bareilly. "Farm" is seen as the second dearest property type. The dearest property type is "Villa" followed by "Flat". At a price of ₹ 42.42 lakhs it is 62 % more expensive than the average price.
According to the average cost per sq.foot, the most expensive property type would be "Farm" at an average cost of ₹ 3,345 / sq.foot followed by "Flat" priced at ₹ 3,670 / sq.foot. "House" is the most costly type of property with a ₹ 1.19 lakhs / sq.foot cost followed by "Villa" with an average price of ₹ 3,793 / sq.foot.