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 December, the average price per sq.foot was ₹ 7,803. In the following month the price per sq.foot increased considerably to ₹ 9,549. The price for the following two months in (February, March) had a considerable increment of 168 %. The price per sq.foot has had a considerable deflation of 74 % 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 ₹ 11,614.5 to ₹ 8,585.5 during April, and May.
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 December, is ₹ 80.18 lakhs. During January the price went through a considerable rise reaching ₹ 96.21 lakhs. During the following two months (February, March) the average price had a considerable increase of 128 % with regard to the previous two months. 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 ₹ 1 crores and ₹ 1.04 crores between April and May.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 1.22 crores they are 84 % more affordable than the average price for New Delhi. The properties with the highest average price have 4 BHK, Their price is 82 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 98.08 lakhs.
With regard to the average price per sq.foot , those properties with 1 BHK are the cheapest ones at a cost of ₹ 4,681 / sq.foot, with an average ₹ 9,233 / sq.foot price in New Delhi. The properties with the highest average prices have 4 BHK. They are 15 % more expensive than the average followed by properties with 3 BHK with a price at ₹ 7,602 / sq.foot.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of ₹ 1.22 crores it is 14 % cheaper than the average price in New Delhi. "Land" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Office". At a price of ₹ 4.84 crores it is 458 % 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 ₹ 8,341 / sq.foot followed by "House" priced at ₹ 13,542 / sq.foot. "Land" is the most costly type of property with a ₹ 29,774 / sq.foot cost followed by "Commercial" with an average price of ₹ 29,221 / sq.foot.