The prices in real estate in Chandigarh, in the Union Territory Of Chandigarh 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 Chandigarh has had a strong decrease during the last 6 months. In August, the average price per sq.foot was ₹ 36,188. In the following month the price per sq.foot decreased considerably to ₹ 3,121. The price for the following two months in (October, November) had a considerable decrease of 15 with regard to the prior two months. The price per sq.foot has had a considerable deflation of 36 % 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 ₹ 11,316.5 to ₹ 4,040 during December, and January.
Based upon to the price in Chandigarh (cities), this has fallen considerably in the last 6 months. The average price for August is ₹ 75.97 lakhs. During September the price had a considerable reduction till ₹ 44.26 lakhs. During the following two months (October, November) the average price had a considerable reduction of 66 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 107 % 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 ₹ 55.71 lakhs they are 32 % more affordable than the average price for Chandigarh. The properties with the highest average price have 4 BHK, Their price is 66 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 62.01 lakhs.
With regard to the average price per sq.foot , those properties with 2 BHK are the cheapest ones at a cost of ₹ 3,466 / sq.foot, with an average ₹ 4,789 / sq.foot price in Chandigarh. The properties with the lowest average prices have 1 BHK. They are 10 % cheaper than the average followed by properties with 4 BHK with a price at ₹ 3,799 / sq.foot.
The graph displaying the average prices displays the property type "Office" as the most affordable one. At an cost of ₹ 55.71 lakhs it is 18 % cheaper than the average price in Chandigarh. "Land" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "House". At a price of ₹ 89.32 lakhs it is 396 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "Flat" at an average cost of ₹ 3,644 / sq.foot followed by "Villa" priced at ₹ 10,297 / sq.foot. "Commercial" is the most costly type of property with a ₹ 95,364 / sq.foot cost followed by "House" with an average price of ₹ 38,582 / sq.foot.