The prices in real estate in Nellore, in the Andhra 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 Nellore has increased strongly during the last 6 months. In November, the average price per sq.foot was ₹ 1,263. In the following month the price per sq.foot increased considerably to ₹ 2,870. The price for the following two months in (January, February) had a considerable increment of 280 %. The price per sq.foot has had a considerable increase of 149 % 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 ₹ 3,927.75 to ₹ 5,868 during March, and April.
Based upon to the price in Nellore (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during November, is ₹ 21.43 lakhs. During December the price went through a considerable rise reaching ₹ 25.68 lakhs. During the following two months (January, February) the average price fell 92 % 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 risen strongly 170 % 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 ₹ 42.3 lakhs they are 75 % more affordable than the average price for Nellore. The properties with the highest average price have 4 BHK, Their price is 149 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 54.66 lakhs.
With regard to the average price per sq.foot , those properties with 3 BHK are the cheapest ones at a cost of ₹ 2,412 / sq.foot, with an average ₹ 4,343 / sq.foot price in Nellore. The properties with the highest average prices have 4 BHK. They are 7 % more expensive than the average followed by properties with 2 BHK with a price at ₹ 2,998 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 42.3 lakhs it is 67 % cheaper than the average price in Nellore. "Farm" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "House". At a price of ₹ 35.32 lakhs it is 48 % 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 ₹ 702 / sq.foot followed by "Farm" priced at ₹ 1,553 / sq.foot. "Villa" is the cheapest type of property with a ₹ 3,743 / sq.foot value followed by "House" with an average price of ₹ 3,083 / sq.foot.