The prices in real estate in Kolar, in the Karnataka 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 Kolar has increased strongly during the last 6 months. In October, the average price per sq.foot was ₹ 3,531. In the following month the price per sq.foot increased considerably to ₹ 58.68 lakhs. The price for the following two months in (December, January) had a considerable decrease of 0 with regard to the prior two months. The price per sq.foot has had a considerable increase of 150 % 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 ₹ 14.69 lakhs to ₹ 22 lakhs during February, and March.
Based upon to the price in Kolar (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is ₹ 82.08 lakhs. During November the price went through a considerable rise reaching ₹ 2.45 crores. During the following two months (December, January) the average price had a considerable reduction of 25 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 111 % during the last two months.