The prices in real estate in Vijayawada, 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 Vijayawada has increased strongly during the last 6 months. In November, the average price per sq.foot was ₹ 2,318. In the following month the price per sq.foot increased considerably to ₹ 4,431. The price for the following two months in (January, February) had a considerable increment of 388 %. The price per sq.foot has had a considerable increase of 163 % 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 ₹ 8,230.5 to ₹ 13,431.5 during March, and April.
Based upon to the price in Vijayawada (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during November, is ₹ 26.44 lakhs. During December the price went through a considerable rise reaching ₹ 34.78 lakhs. During the following two months (January, February) the average price had a considerable increase of 153 % 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 gone up 110 % 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 ₹ 39.88 lakhs they are 43 % more affordable than the average price for Vijayawada. The properties with the highest average price have 4 BHK, Their price is 246 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 81.54 lakhs.
With regard to the average price per sq.foot , those properties with 3 BHK are the cheapest ones at a cost of ₹ 6,019 / sq.foot, with an average ₹ 14,582 / sq.foot price in Vijayawada. The properties with the highest average prices have 1 BHK. They are 6 % more expensive than the average followed by properties with 4 BHK with a price at ₹ 13,529 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 39.88 lakhs it is 42 % cheaper than the average price in Vijayawada. "Commercial" is seen as the second most affordable property type. The dearest property type is "Office" followed by "Villa". At a price of ₹ 1.03 crores it is 474 % 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 ₹ 2,342 / sq.foot followed by "Flat" priced at ₹ 4,080 / sq.foot. "Villa" is the cheapest type of property with a ₹ 13,185 / sq.foot value followed by "Land" with an average price of ₹ 9,711 / sq.foot.