The prices in real estate in Thoothukudi, in the Tamil Nadu 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 Thoothukudi has increased strongly during the last 6 months. In October, the average price per sq.foot was ₹ 687. In November this price pretty much remained the same at a value of ₹ 687 per sq.foot. The price for the following two months in (December, January) had a considerable increment of 316 %. The price per sq.foot has had a considerable deflation of 48 % 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 ₹ 1,430.25 to ₹ 687.5 during February, and March.
Based upon to the price in Thoothukudi (cities), this has gone up considerably in the last 6 months. In our first sample month during October, the average price is ₹ 16.52 lakhs. In November This price remains at ₹ 16.52 lakhs. During the following two months (December, January) the average price had a considerable increase of 258 % 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 ₹ 29.57 lakhs to ₹ 15.16 lakhs, which means a 51 % fall.