The prices in real estate in Ernakulam, in the Kerala 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 Ernakulam has increased strongly during the last 6 months. In March, the average price per sq.foot was ₹ 42,254. In the following month the price per sq.foot increased to ₹ 48,538. The price for the following two months in (May, June) had a considerable increment of 132 %. The price per sq.foot has increased 105 % 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 ₹ 52,631 to ₹ 55,476.5 during July, and August.
Based upon to the price in Ernakulam (cities), this has gone up considerably in the last 6 months. The price in March is ₹ 90.62 lakhs, rising in April till ₹ 99.96 lakhs. During the following two months (May, June) the price has had an average incrementation from ₹ 95.29 lakhs to ₹ 1.07 crores. Based on an analysis of the first four prices and the last two months the average price has gone up 113 % 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 ₹ 1.13 crores they are 76 % more affordable than the average price for Ernakulam. The properties with the lowest average price have 4 BHK, Their price is 10 % cheaper than the average. After that we have properties with 3 BHK priced at ₹ 73.17 lakhs.
With regard to the average price per sq.foot , those properties with 2 BHK are the cheapest ones at a cost of ₹ 40,683 / sq.foot, with an average ₹ 55,065 / sq.foot price in Ernakulam. The properties with the lowest average prices have 1 BHK. They are 15 % cheaper than the average followed by properties with 3 BHK with a price at ₹ 46,023 / sq.foot.
The graph displaying the average prices displays the property type "Farm" as the most affordable one. At an cost of ₹ 1.13 crores it is 38 % cheaper than the average price in Ernakulam. "House" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Land". At a price of ₹ 1.61 crores it is 228 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "Farm" at an average cost of ₹ 4,362 / sq.foot followed by "House" priced at ₹ 37,929 / sq.foot. "Land" is the most costly type of property with a ₹ 6.5 lakhs / sq.foot cost followed by "Commercial" with an average price of ₹ 60,327 / sq.foot.