The prices in real estate in Bhopal, in the Madhya Pradesh 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 Bhopal has increased strongly during the last 6 months. In November, the average price per sq.foot was ₹ 4,010. In the following month the price per sq.foot increased considerably to ₹ 5,748. The price for the following two months in (January, February) had a considerable increment of 256 %. The price per sq.foot has had a considerable increase of 162 % 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 ₹ 8,693.75 to ₹ 14,040.5 during March, and April.
Based upon to the price in Bhopal (cities), this has gone downing the last 6 months. In our first sample month during November, the average price is ₹ 54.52 lakhs. In December This price remains at ₹ 56.7 lakhs. During the following two months (January, February) the average price fell 91 % 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 94 %, going from ₹ 53.15 lakhs to ₹ 50.13 lakhs in March and April.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 51.88 lakhs they are 68 % more affordable than the average price for Bhopal. The properties with the highest average price have 4 BHK, Their price is 37 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 44.99 lakhs.
With regard to the average price per sq.foot , those properties with 1 BHK are the cheapest ones at a cost of ₹ 3,066 / sq.foot, with an average ₹ 15,437 / sq.foot price in Bhopal. The properties with the lowest average prices have 3 BHK. They are 38 % cheaper than the average followed by properties with 2 BHK with a price at ₹ 7,776 / sq.foot.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of ₹ 51.88 lakhs it is 48 % cheaper than the average price in Bhopal. "Land" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of ₹ 55.12 lakhs it is 349 % 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 ₹ 1,654 / sq.foot followed by "Flat" priced at ₹ 2,706 / sq.foot. "Commercial" is the most costly type of property with a ₹ 72,470 / sq.foot cost followed by "House" with an average price of ₹ 8,988 / sq.foot.