The prices in real estate in Palakkad, in the Kerala 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 Palakkad has increased strongly during the last 6 months. In October, the average price per sq.foot was ₹ 2,719. In November this price pretty much remained the same at a value of ₹ 2,672 per sq.foot. The price for the following two months in (December, January) had a considerable increment of 584 %. The price per sq.foot has had a considerable increase of 331 % 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 ₹ 9,221.75 to ₹ 30,561 during February, and March.
Based upon to the price in Palakkad (cities), this has gone up considerably in the last 6 months. In our first sample month during October, the average price is ₹ 34.42 lakhs. In November This price remains at ₹ 35.02 lakhs. During the following two months (December, January) the average price had a considerable increase of 175 % 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 132 % 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 ₹ 66.27 lakhs they are 73 % more affordable than the average price for Palakkad. The properties with the lowest average price have 4 BHK, Their price is 21 % cheaper than the average. After that we have properties with 3 BHK priced at ₹ 35.13 lakhs.
With regard to the average price per sq.foot , those properties with 2 BHK are the cheapest ones at a cost of ₹ 2,232 / sq.foot, with an average ₹ 29,128 / sq.foot price in Palakkad. The properties with the lowest average prices have 1 BHK. They are 90 % cheaper than the average followed by properties with 3 BHK with a price at ₹ 2,342 / sq.foot.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of ₹ 66.27 lakhs it is 51 % cheaper than the average price in Palakkad. "Villa" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Land". At a price of ₹ 59.43 lakhs it is 63 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "Commercial" at an average cost of ₹ 488 / sq.foot followed by "House" priced at ₹ 2,333 / sq.foot. "Land" is the most costly type of property with a ₹ 3.1 lakhs / sq.foot cost followed by "Flat" with an average price of ₹ 3,049 / sq.foot.