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 October, the average price per sq.foot was ₹ 1,721. In the following month the price per sq.foot increased considerably to ₹ 2,009. The price for the following two months in (December, January) had a considerable increment of 182 %. The price per sq.foot has had a considerable increase of 198 % 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 ₹ 2,627 to ₹ 5,188.5 during February, and March.
Based upon to the price in Lucknow (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is ₹ 19.83 lakhs. During November the price went through a considerable rise reaching ₹ 27.24 lakhs. During the following two months (December, January) the average price had a considerable increase of 144 % 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.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 26.58 lakhs they are 13 % more affordable than the average price for Lucknow. The properties with the highest average price have 4 BHK, Their price is 299 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 48.28 lakhs.
With regard to the average price per sq.foot , those properties with 2 BHK are the cheapest ones at a cost of ₹ 3,717 / sq.foot, with an average ₹ 6,368 / sq.foot price in Lucknow. The properties with the lowest average prices have 1 BHK. They are 9 % cheaper than the average followed by properties with 4 BHK with a price at ₹ 5,720 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 26.58 lakhs it is 50 % 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 ₹ 2.66 crores it is 1780 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "House" at an average cost of ₹ 3,983 / sq.foot followed by "Flat" priced at ₹ 4,067 / sq.foot. "Commercial" is the most costly type of property with a ₹ 51,597 / sq.foot cost followed by "Office" with an average price of ₹ 7,420 / sq.foot.