The prices in real estate in Kanpur, 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 Kanpur has had a strong decrease during the last 6 months. In August, the average price per sq.foot was ₹ 5,995. In the following month the price per sq.foot decreased considerably to ₹ 4,183. The price for the following two months in (October, November) had a considerable decrease of 74 with regard to the prior two months. The price per sq.foot has had a considerable deflation of 83 % 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 ₹ 4,432.25 to ₹ 3,663 during December, and January.
Based upon to the price in Kanpur (cities), this has fallen considerably in the last 6 months. The average price for August is ₹ 1.14 crores. During September the price had a considerable reduction till ₹ 67.02 lakhs. During the following two months (October, November) the average price had a considerable reduction of 36 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from ₹ 61.77 lakhs to ₹ 31.3 lakhs, which means a 51 % fall.
The graph displaying the average price for BHK illustrates that those properties with 2 BHK are the most costly ones. At a price of ₹ 24.55 lakhs they are 42 % more expensive than the average price for Kanpur. Following this ranking we find those properties with 1 at an average price of ₹ 39.47 lakhs. The properties with the highest average price have 4 BHK, Their price is 545 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 64.25 lakhs.
With regard to the average price per sq.foot , those properties with 2 BHK are the most costly ones at a cost of ₹ 3,835 / sq.foot, with an average ₹ 3,783 / sq.foot price in Kanpur. The properties with the highest average prices have 4 BHK. They are 117 % more expensive than the average followed by properties with 1 BHK with a price at ₹ 6,620 / sq.foot.
The graph displaying the average prices displays the property type "Farm" as the most affordable one. At an cost of ₹ 24.55 lakhs it is 84 % cheaper than the average price in Kanpur. "Flat" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "House". At a price of ₹ 50.72 lakhs it is 267 % 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 ₹ 322 / sq.foot followed by "Flat" priced at ₹ 1,853 / sq.foot. "Villa" is the most costly type of property with a ₹ 6,059 / sq.foot cost followed by "Commercial" with an average price of ₹ 5,028 / sq.foot.