The prices in real estate in Mysore, in the Karnataka 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 Mysore has had a strong decrease during the last 6 months. In December, the average price per sq.foot was ₹ 7,243. In the following month the price per sq.foot increased considerably to ₹ 10,489. The price for the following two months in (February, March) had a considerable decrease of 56 with regard to the prior two months. The price per sq.foot has had a considerable deflation of 45 % 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 ₹ 6,912.25 to ₹ 3,111.5 during April, and May.
Based upon to the price in Mysore (cities), this has gone up in the last 6 months. In our first sample month during December, the average price is ₹ 63.32 lakhs. In January This price remains at ₹ 65.04 lakhs. During the following two months (February, March) 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 ₹ 78.49 lakhs to ₹ 50.54 lakhs, which means a 64 % fall.
The graph displaying the average price for BHK illustrates that those properties with 2 BHK are the cheapest ones. At a price of ₹ 62.31 lakhs they are 16 % more affordable than the average price for Mysore. The properties with the highest average price have 3 BHK, Their price is 53 % more costly than the average. After that we have properties with 1 BHK priced at ₹ 81.17 lakhs.
With regard to the average price per sq.foot , those properties with 1 BHK are the most costly ones at a cost of ₹ 4,129 / sq.foot, with an average ₹ 3,275 / sq.foot price in Mysore. The properties with the highest average prices have 3 BHK. They are 259 % more expensive than the average followed by properties with 4 BHK with a price at ₹ 5,007 / sq.foot.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of ₹ 62.31 lakhs it is 22 % cheaper than the average price in Mysore. "Villa" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Flat". At a price of ₹ 1.86 crores it is 291 % 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 ₹ 3,271 / sq.foot followed by "Villa" priced at ₹ 6,058 / sq.foot. "Flat" is the most costly type of property with a ₹ 28,775 / sq.foot cost followed by "Commercial" with an average price of ₹ 19,425 / sq.foot.