The prices in real estate in Bhubaneswar, in the Orissa region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per sq.foot in Bhubaneswar has increased during the last 6 months. In December, the average price per sq.foot was ₹ 1,927. In the following month the price per sq.foot increased considerably to ₹ 2,703. The price for the following two months in (February, March) decreased 95 % with regard to the prior two months. The price per sq.foot has had a considerable deflation of 84 % 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 ₹ 2,253 to ₹ 1,887.5 during April, and May.
Based upon to the price in Bhubaneswar (cities), these have remained the same in the last 6 months. The average price during our first sample month during December, is ₹ 31.91 lakhs. During January the price went through a considerable rise reaching ₹ 38.88 lakhs. During the following two months (February, March) the average price fell 90 % 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 92 %, going from ₹ 33.69 lakhs to ₹ 31 lakhs in April and May.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 29.19 lakhs they are 51 % more affordable than the average price for Bhubaneswar. The properties with the highest average price have 4 BHK, Their price is 79 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 47.17 lakhs.
With regard to the average price per sq.foot , those properties with 1 BHK are the most costly ones at a cost of ₹ 2,453 / sq.foot, with an average ₹ 2,051 / sq.foot price in Bhubaneswar. The properties with the highest average prices have 3 BHK. They are 49 % more expensive than the average followed by properties with 4 BHK with a price at ₹ 2,677 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 29.19 lakhs it is 44 % cheaper than the average price in Bhubaneswar. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Villa". At a price of ₹ 56.67 lakhs it is 123 % 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 ₹ 923 / sq.foot followed by "Apartment" priced at ₹ 2,757 / sq.foot. "House" is the most costly type of property with a ₹ 3,235 / sq.foot cost followed by "Villa" with an average price of ₹ 2,899 / sq.foot.