The prices in real estate in Ernakulam, in the Kerala 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 Ernakulam has remained the same in the last 6 months. In August, the average price per sq.foot was ₹ 43,890. In the following month the price per sq.foot decreased considerably to ₹ 30,053. The price for the following two months in (October, November) had a considerable increment of 118 %. The price per sq.foot has had a considerable increase of 137 % 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 ₹ 40,372.25 to ₹ 55,222 during December, and January.
Based upon to the price in Ernakulam (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during August, is ₹ 83.29 lakhs. During September the price went through a considerable rise reaching ₹ 96.86 lakhs. During the following two months (October, November) the price has had an average incrementation from ₹ 90.08 lakhs to ₹ 96.66 lakhs. 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 ₹ 1.01 crores they are 59 % more affordable than the average price for Ernakulam. The properties with the highest average price have 4 BHK, Their price is 38 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 81.48 lakhs.
With regard to the average price per sq.foot , those properties with 1 BHK are the cheapest ones at a cost of ₹ 34,494 / sq.foot, with an average ₹ 56,998 / sq.foot price in Ernakulam. The properties with the lowest average prices have 4 BHK. They are 4 % cheaper than the average followed by properties with 3 BHK with a price at ₹ 52,193 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 1.01 crores it is 40 % cheaper than the average price in Ernakulam. "Flat" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Villa". At a price of ₹ 1.23 crores it is 146 % 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 ₹ 4,397 / sq.foot followed by "House" priced at ₹ 49,915 / sq.foot. "Land" is the most costly type of property with a ₹ 7.79 lakhs / sq.foot cost followed by "Villa" with an average price of ₹ 58,345 / sq.foot.