The prices in real estate in Ghaziabad, in the Uttar Pradesh region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.foot in Ghaziabad has had a strong decrease during the last 6 months. In March, the average price per sq.foot was ₹ 5,199. In the following month the price per sq.foot decreased considerably to ₹ 3,680. In the following two months the price per sq.foot has increased 111 %, going from ₹ 4,439.5 to ₹ 4,927 per sq.foot. The price per sq.foot has decreased 89 % 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 ₹ 4,683.25 to ₹ 4,147.5 during July, and August.
Based upon to the price in Ghaziabad (cities), this has gone up in the last 6 months. In our first sample month during March, the average price is ₹ 37.95 lakhs. In April This price remains at ₹ 36.84 lakhs. In the following two months the average price has remained the same with regard to the previous two months from ₹ 37.4 lakhs to ₹ 39.22 lakhs. Based on an analysis of the first four prices and the last two months the average price has gone up 112 % 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 ₹ 43.15 lakhs they are 58 % more affordable than the average price for Ghaziabad. The properties with the highest average price have 4 BHK, Their price is 170 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 61.67 lakhs.
With regard to the average price per sq.foot , those properties with 2 BHK are the cheapest ones at a cost of ₹ 3,942 / sq.foot, with an average ₹ 3,966 / sq.foot price in Ghaziabad. The properties with the highest average prices have 4 BHK. They are 685 % more expensive than the average followed by properties with 1 BHK with a price at ₹ 5,855 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 43.15 lakhs it is 14 % cheaper than the average price in Ghaziabad. "Flat" is seen as the second most affordable property type. The dearest property type is "Office" followed by "House". At a price of ₹ 61.68 lakhs it is 76 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "Flat" at an average cost of ₹ 3,845 / sq.foot followed by "Land" priced at ₹ 3,870 / sq.foot. "Commercial" is the most costly type of property with a ₹ 18,169 / sq.foot cost followed by "Office" with an average price of ₹ 13,957 / sq.foot.