The prices in real estate in Chennai, in the Tamil Nadu 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 Chennai has increased during the last 6 months. In December, the average price per sq.foot was ₹ 4,270. In the following month the price per sq.foot decreased considerably to ₹ 1,777. The price for the following two months in (February, March) had a considerable increment of 192 %. 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 ₹ 4,418.5 to ₹ 4,518.5 during April y May
Based upon to the price in Chennai (cities), this has gone downing the last 6 months. The average price for December is ₹ 47.74 lakhs. During January the price had a considerable reduction till ₹ 14.83 lakhs. During the following two months (February, March) the average price had a considerable increase of 163 % 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 risen strongly 125 % 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 ₹ 44.87 lakhs they are 54 % more affordable than the average price for Chennai. The properties with the highest average price have 4 BHK, Their price is 309 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 86.65 lakhs.
With regard to the average price per sq.foot , those properties with 1 BHK are the most costly ones at a cost of ₹ 4,050 / sq.foot, with an average ₹ 3,937 / sq.foot price in Chennai. The properties with the highest average prices have 4 BHK. They are 137 % more expensive than the average followed by properties with 3 BHK with a price at ₹ 7,372 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 44.87 lakhs it is 28 % cheaper than the average price in Chennai. "Commercial" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Flat". At a price of ₹ 58.55 lakhs it is 77 % 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 ₹ 2,535 / sq.foot followed by "Office" priced at ₹ 3,694 / sq.foot. "Commercial" is the most costly type of property with a ₹ 6,201 / sq.foot cost followed by "Flat" with an average price of ₹ 5,579 / sq.foot.