The prices in real estate in Bhubaneswar, in the Orissa 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 Bhubaneswar has fallen in the last 6 months. In September, the average price per sq.foot was ₹ 2,367. In the following month the price per sq.foot decreased to ₹ 2,140. The price for the following two months in (November, December) decreased 89 % with regard to the prior two months. The price per sq.foot has increased 114 % 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 ₹ 2,131.25 to ₹ 2,438 during January, and February.
Based upon to the price in Bhubaneswar (cities), these have remained the same in the last 6 months. In our first sample month during September, the average price is ₹ 32.6 lakhs. In October This price remains at ₹ 32.57 lakhs. In the following two months the average price has remained the same with regard to the previous two months from ₹ 32.59 lakhs to ₹ 32.01 lakhs. Based on an analysis of the first four prices and the last two months the average price has gone up 109 % during the last two months.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 31.67 lakhs they are 39 % more affordable than the average price for Bhubaneswar. The properties with the highest average price have 4 BHK, Their price is 173 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 50.89 lakhs.
With regard to the average price per sq.foot , those properties with 1 BHK are the most costly ones at a cost of ₹ 2,746 / sq.foot, with an average ₹ 2,173 / sq.foot price in Bhubaneswar. The properties with the highest average prices have 4 BHK. They are 72 % more expensive than the average followed by properties with 3 BHK with a price at ₹ 3,231 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 31.67 lakhs it is 47 % cheaper than the average price in Bhubaneswar. "Apartment" is seen as the second most affordable property type. The dearest property type is "Office" followed by "House". At a price of ₹ 50.3 lakhs it is 86 % 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 ₹ 768 / sq.foot followed by "Office" priced at ₹ 2,455 / sq.foot. "Apartment" is the most costly type of property with a ₹ 3,020 / sq.foot cost followed by "Villa" with an average price of ₹ 2,781 / sq.foot.