The prices in real estate in Chennai, in the Tamil Nadu region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.foot in Chennai has increased strongly during the last 6 months. In April, the average price per sq.foot was ₹ 5,475. In the following month the price per sq.foot decreased to ₹ 4,919. The price for the following two months in (June, July) had a considerable increment of 190 %. The price per sq.foot has decreased 90 % 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 ₹ 7,543 to ₹ 6,787 during August, and September.
Based upon to the price in Chennai (cities), this has gone up considerably in the last 6 months. The average price for April is ₹ 59.03 lakhs. During May the price had a slight fall till ₹ 55.19 lakhs. During the following two months (June, July) the average price had a considerable increase of 196 % 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 86 %, going from ₹ 84.47 lakhs to ₹ 72.48 lakhs in August and September.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 66.96 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 235 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 1.66 crores.
With regard to the average price per sq.foot , those properties with 1 BHK are the cheapest ones at a cost of ₹ 5,527 / sq.foot, with an average ₹ 6,502 / sq.foot price in Chennai. The properties with the highest average prices have 3 BHK. They are 67 % more expensive than the average followed by properties with 4 BHK with a price at ₹ 8,598 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 66.96 lakhs it is 32 % cheaper than the average price in Chennai. "Office" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Villa". At a price of ₹ 97.85 lakhs it is 241 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "Office" at an average cost of ₹ 2,946 / sq.foot followed by "Land" priced at ₹ 3,524 / sq.foot. "Commercial" is the most costly type of property with a ₹ 10,001 / sq.foot cost followed by "Flat" with an average price of ₹ 7,378 / sq.foot.