The prices in real estate in Lucknow, in the Uttar Pradesh region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.foot in Lucknow has had a strong decrease during the last 6 months. In March, the average price per sq.foot was ₹ 6,368. In the following month the price per sq.foot increased to ₹ 6,803. The price for the following two months in (May, June) had a considerable decrease of 50 with regard to the prior two months. The price per sq.foot has had a considerable deflation of 54 % 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 ₹ 4,942.5 to ₹ 2,660.5 during July, and August.
Based upon to the price in Lucknow (cities), these have remained the same in the last 6 months. The average price for March is ₹ 26.58 lakhs. During April the price had a slight fall till ₹ 23.33 lakhs. In the following two months the average price has remained the same with regard to the previous two months from ₹ 24.95 lakhs to ₹ 25.53 lakhs. Based on an analysis of the first four prices and the last two months the average price has risen strongly 124 % 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 ₹ 32.2 lakhs they are 42 % more affordable than the average price for Lucknow. The properties with the highest average price have 4 BHK, Their price is 91 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 58.14 lakhs.
With regard to the average price per sq.foot , those properties with 1 BHK are the most costly ones at a cost of ₹ 3,141 / sq.foot, with an average ₹ 2,676 / sq.foot price in Lucknow. The properties with the highest average prices have 4 BHK. They are 74 % more expensive than the average followed by properties with 3 BHK with a price at ₹ 4,395 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 32.2 lakhs it is 44 % cheaper than the average price in Lucknow. "Commercial" is seen as the second most affordable property type. The dearest property type is "Flat" followed by "Villa". At a price of ₹ 51.49 lakhs it is 60 % 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 ₹ 1,302 / sq.foot followed by "Villa" priced at ₹ 3,936 / sq.foot. "Commercial" is the most costly type of property with a ₹ 10,164 / sq.foot cost followed by "Office" with an average price of ₹ 6,363 / sq.foot.