The prices in real estate in Lucknow, in the Uttar Pradesh 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 Lucknow has increased strongly during the last 6 months. In September, the average price per sq.foot was ₹ 2,934. In the following month the price per sq.foot decreased considerably to ₹ 2,077. The price for the following two months in (November, December) had a considerable increment of 257 %. The price per sq.foot has had a considerable deflation of 57 % 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 ₹ 4,474.5 to ₹ 2,554 during January, and February.
Based upon to the price in Lucknow (cities), these have remained the same in the last 6 months. The average price for September is ₹ 39.96 lakhs. During October the price had a considerable reduction till ₹ 27.58 lakhs. During the following two months (November, December) the average price had a considerable increase of 147 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 85 %, going from ₹ 41.77 lakhs to ₹ 35.64 lakhs in January and February.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the most costly ones. At a price of ₹ 33.86 lakhs they are 14 % more expensive than the average price for Lucknow. Following this ranking we find those properties with 2 at an average price of ₹ 46.28 lakhs. The properties with the highest average price have 4 BHK, Their price is 89 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 55.13 lakhs.
With regard to the average price per sq.foot , those properties with 4 BHK are the most costly ones at a cost of ₹ 4,464 / sq.foot, with an average ₹ 2,451 / sq.foot price in Lucknow. The properties with the highest average prices have 1 BHK. They are 214 % more expensive than the average followed by properties with 2 BHK with a price at ₹ 4,595 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 33.86 lakhs it is 47 % cheaper than the average price in Lucknow. "House" is seen as the second most affordable property type. The dearest property type is "Office" followed by "Commercial". At a price of ₹ 1.1 crores it is 349 % 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 ₹ 1,186 / sq.foot followed by "House" priced at ₹ 4,373 / sq.foot. "Office" is the most costly type of property with a ₹ 15,602 / sq.foot cost followed by "Commercial" with an average price of ₹ 6,777 / sq.foot.