The prices in real estate in New Delhi, in the National Capital Territory Of Delhi 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 New Delhi has increased strongly during the last 6 months. In September, the average price per sq.foot was ₹ 7,249. In the following month the price per sq.foot increased considerably to ₹ 8,812. In the following two months the price per sq.foot has barely changed, going from ₹ 8,030.5 to ₹ 8,170.5 per sq.foot. The price per sq.foot has had a considerable increase of 181 % 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 ₹ 8,100.5 to ₹ 14,675 during January, and February.
Based upon to the price in New Delhi (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during September, is ₹ 80.88 lakhs. During October the price went through a considerable rise reaching ₹ 1.09 crores. During the following two months (November, December) the price has had an average incrementation from ₹ 95.07 lakhs to ₹ 1.03 crores. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of ₹ 99.16 lakhs and ₹ 1.02 crores between January and February.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 1.07 crores they are 79 % more affordable than the average price for New Delhi. The properties with the highest average price have 4 BHK, Their price is 132 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 1.43 crores.
With regard to the average price per sq.foot , those properties with 1 BHK are the cheapest ones at a cost of ₹ 5,158 / sq.foot, with an average ₹ 19,801 / sq.foot price in New Delhi. The properties with the lowest average prices have 4 BHK. They are 42 % cheaper than the average followed by properties with 3 BHK with a price at ₹ 9,983 / sq.foot.
The graph displaying the average prices displays the property type "Villa" as the most affordable one. At an cost of ₹ 1.07 crores it is 14 % cheaper than the average price in New Delhi. "Flat" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Land". At a price of ₹ 4.77 crores it is 1083 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "Villa" at an average cost of ₹ 12,276 / sq.foot followed by "Flat" priced at ₹ 17,296 / sq.foot. "Office" is the most costly type of property with a ₹ 60,747 / sq.foot cost followed by "Row House" with an average price of ₹ 39,600 / sq.foot.