The prices in real estate in Chennai, in the Tamil Nadu region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per sq.foot in Chennai has remained the same in the last 6 months. In March, the average price per sq.foot was ₹ 4,349. In the following month the price per sq.foot increased considerably to ₹ 5,100. The price for the following two months in (May, June) decreased 90 % with regard to the prior two months. The price per sq.foot has barely changed in the last two months compared to the average price of the previous four months going from an average price of ₹ 4,480.5 to ₹ 4,477 during July y August
Based upon to the price in Chennai (cities), this has gone up in the last 6 months. The average price during our first sample month during March, is ₹ 45.28 lakhs. During April the price went through a considerable rise reaching ₹ 57.76 lakhs. In the following two months the average price has remained the same with regard to the previous two months from ₹ 51.52 lakhs to ₹ 51.33 lakhs. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 90 %, going from ₹ 51.42 lakhs to ₹ 46.13 lakhs in July and August.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 47.02 lakhs they are 48 % more affordable than the average price for Chennai. The properties with the highest average price have 4 BHK, Their price is 432 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 72.51 lakhs.
With regard to the average price per sq.foot , those properties with 1 BHK are the most costly ones at a cost of ₹ 4,865 / sq.foot, with an average ₹ 4,428 / sq.foot price in Chennai. The properties with the highest average prices have 2 BHK. They are 336 % more expensive than the average followed by properties with 3 BHK with a price at ₹ 19,313 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 47.02 lakhs it is 18 % cheaper than the average price in Chennai. "House" is seen as the second most affordable property type. The dearest property type is "Office" followed by "Villa". At a price of ₹ 82.47 lakhs it is 880 % 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 ₹ 3,474 / sq.foot followed by "House" priced at ₹ 4,720 / sq.foot. "Office" is the most costly type of property with a ₹ 17,462 / sq.foot cost followed by "Villa" with an average price of ₹ 6,101 / sq.foot.