The prices in real estate in Kozhikode, 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 Kozhikode has increased strongly during the last 6 months. In October, the average price per sq.foot was ₹ 6,823. In the following month the price per sq.foot decreased considerably to ₹ 4,903. The price for the following two months in (December, January) had a considerable increment of 509 %. The price per sq.foot has had a considerable increase of 213 % 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 ₹ 17,846.5 to ₹ 38,084 during February, and March.
Based upon to the price in Kozhikode (cities), this has gone up considerably in the last 6 months. In our first sample month during October, the average price is ₹ 89.55 lakhs. In November This price remains at ₹ 93.18 lakhs. In the following two months the average price has remained the same with regard to the previous two months from ₹ 91.36 lakhs to ₹ 94.36 lakhs. Based on an analysis of the first four prices and the last two months the average price has risen strongly 127 % 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 ₹ 1.33 crores they are 73 % more affordable than the average price for Kozhikode. The properties with the lowest average price have 4 BHK, Their price is 3 % cheaper than the average. After that we have properties with 3 BHK priced at ₹ 49.31 lakhs.
With regard to the average price per sq.foot , those properties with 3 BHK are the cheapest ones at a cost of ₹ 3,931 / sq.foot, with an average ₹ 27,673 / sq.foot price in Kozhikode. The properties with the highest average prices have 2 BHK. They are 386 % more expensive than the average followed by properties with 1 BHK with a price at ₹ 35,611 / sq.foot.
The graph displaying the average prices displays the property type "Farm" as the most affordable one. At an cost of ₹ 1.33 crores it is 64 % cheaper than the average price in Kozhikode. "Land" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Flat". At a price of ₹ 80.41 lakhs it is 34 % more affordable than the average price.
According to the average cost per sq.foot, the cheapest property type is "Land" at an average cost of ₹ 1,477 / sq.foot followed by "Farm" priced at ₹ 2,249 / sq.foot. "Flat" is the most costly type of property with a ₹ 1.29 lakhs / sq.foot cost followed by "House" with an average price of ₹ 16,909 / sq.foot.