The prices in real estate in Mohali, in the Punjab 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 Mohali has increased strongly during the last 6 months. In April, the average price per sq.foot was ₹ 7,351. In the following month the price per sq.foot increased considerably to ₹ 36,844. The price for the following two months in (June, July) had a considerable increment of 165 %. The price per sq.foot has had a considerable deflation of 52 % 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 ₹ 29,268.75 to ₹ 15,274 during August, and September.
Based upon to the price in Mohali (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during April, is ₹ 76.73 lakhs. During May the price went through a considerable rise reaching ₹ 1.35 crores. During the following two months (June, July) the average price had a considerable increase of 145 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from ₹ 1.29 crores to ₹ 1.05 crores, which means a 81 % fall.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 1.53 crores they are 89 % more affordable than the average price for Mohali. The properties with the lowest average price have 4 BHK, Their price is 37 % cheaper than the average. After that we have properties with 3 BHK priced at ₹ 50.77 lakhs.
With regard to the average price per sq.foot , those properties with 1 BHK are the cheapest ones at a cost of ₹ 7,175 / sq.foot, with an average ₹ 25,351 / sq.foot price in Mohali. The properties with the lowest average prices have 3 BHK. They are 42 % cheaper than the average followed by properties with 4 BHK with a price at ₹ 12,143 / sq.foot.
The graph displaying the average prices displays the property type "Villa" as the most affordable one. At an cost of ₹ 1.53 crores it is 63 % cheaper than the average price in Mohali. "Flat" is seen as the second most affordable property type. The dearest property type is "Land" followed by "Office". At a price of ₹ 90.83 lakhs it is 4 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "Flat" at an average cost of ₹ 4,148 / sq.foot followed by "Villa" priced at ₹ 4,386 / sq.foot. "Land" is the most costly type of property with a ₹ 30,186 / sq.foot cost followed by "Commercial" with an average price of ₹ 25,235 / sq.foot.