The prices in real estate in Mumbai, in the Maharashtra region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per sq.foot in Mumbai has fallen in the last 6 months. In September, the average price per sq.foot was ₹ 13,749. In October this price pretty much remained the same at a value of ₹ 13,677 per sq.foot. The price for the following two months in (November, December) decreased 89 % with regard to the prior two months. The price per sq.foot has barely changed in the last two months compared to the average price of the previous four months going from an average price of ₹ 12,927.5 to ₹ 13,111 during January y February
Based upon to the price in Mumbai (cities), this has gone up in the last 6 months. In our first sample month during September, the average price is ₹ 1.04 crores. In October This price remains at ₹ 1.04 crores. In the following two months the average price has remained the same with regard to the previous two months from ₹ 1.04 crores to ₹ 1.03 crores. 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 ₹ 1.12 crores they are 45 % more affordable than the average price for Mumbai. The properties with the highest average price have 4 BHK, Their price is 409 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 3.5 crores.
With regard to the average price per sq.foot , those properties with 1 BHK are the cheapest ones at a cost of ₹ 12,316 / sq.foot, with an average ₹ 12,487 / sq.foot price in Mumbai. The properties with the highest average prices have 4 BHK. They are 175 % more expensive than the average followed by properties with 3 BHK with a price at ₹ 29,847 / sq.foot.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of ₹ 1.12 crores it is 11 % cheaper than the average price in Mumbai. "House" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Land". At a price of ₹ 2.24 crores it is 389 % 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 ₹ 11,926 / sq.foot followed by "House" priced at ₹ 14,412 / sq.foot. "Office" is the most costly type of property with a ₹ 30,908 / sq.foot cost followed by "Commercial" with an average price of ₹ 30,326 / sq.foot.