The prices in real estate in Kottayam, 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 Kottayam has increased strongly during the last 6 months. In July, the average price per sq.foot was ₹ 2,659. In August this price pretty much remained the same at a value of ₹ 2,702 per sq.foot. In the following two months the price per sq.foot has increased 113 %, going from ₹ 2,680.5 to ₹ 3,033 per sq.foot. The price per sq.foot has had a considerable increase of 171 % 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 ₹ 2,856.75 to ₹ 4,874.5 during November, and December.
Based upon to the price in Kottayam (cities), this has gone up considerably in the last 6 months. In our first sample month during July, the average price is ₹ 55.11 lakhs. In August This price remains at ₹ 54.54 lakhs. During the following two months (September, October) the price has had an average incrementation from ₹ 54.83 lakhs to ₹ 58.16 lakhs. Based on an analysis of the first four prices and the last two months the average price has risen strongly 141 % during the last two months.
The graph displaying the average price for BHK illustrates that those properties with 2 BHK are the cheapest ones. At a price of ₹ 1.07 crores they are 70 % more affordable than the average price for Kottayam. The properties with the highest average price have 1 BHK, Their price is 7 % more costly than the average. After that we have properties with 4 BHK priced at ₹ 87.67 lakhs.
With regard to the average price per sq.foot , those properties with 2 BHK are the most costly ones at a cost of ₹ 2,873 / sq.foot, with an average ₹ 2,740 / sq.foot price in Kottayam. The properties with the highest average prices have 1 BHK. They are 37 % more expensive than the average followed by properties with 4 BHK with a price at ₹ 3,597 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 1.07 crores it is 68 % cheaper than the average price in Kottayam. "Farm" is seen as the second most affordable property type. The dearest property type is "House" followed by "Villa". At a price of ₹ 71.72 lakhs it is 48 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "Land" at an average cost of ₹ 1,135 / sq.foot followed by "Farm" priced at ₹ 3,133 / sq.foot. "House" is the most costly type of property with a ₹ 5,844 / sq.foot cost followed by "Flat" with an average price of ₹ 3,905 / sq.foot.