The prices in real estate in Vishakhapatnam, 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 Vishakhapatnam has increased strongly during the last 6 months. In November, the average price per sq.foot was ₹ 4,125. In December this price pretty much remained the same at a value of ₹ 3,964 per sq.foot. The price for the following two months in (January, February) decreased 90 % with regard to the prior two months. The price per sq.foot has had a considerable increase of 259 % 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 ₹ 3,833.25 to ₹ 9,943.5 during March, and April.
Based upon to the price in Vishakhapatnam (cities), this has fallen considerably in the last 6 months. The average price for November is ₹ 54.87 lakhs. During December the price had a slight fall till ₹ 51.72 lakhs. During the following two months (January, February) the average price had a considerable reduction of 60 % 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 ₹ 42.62 lakhs to ₹ 31.88 lakhs, which means a 75 % fall.
The graph displaying the average price for BHK illustrates that those properties with 3 BHK are the most costly ones. At a price of ₹ 31.33 lakhs they are 50 % more expensive than the average price for Vishakhapatnam. Following this ranking we find those properties with 2 at an average price of ₹ 54.23 lakhs. The properties with the highest average price have 4 BHK, Their price is 157 % more costly than the average. After that we have properties with 1 BHK priced at ₹ 54.89 lakhs.
With regard to the average price per sq.foot , those properties with 3 BHK are the cheapest ones at a cost of ₹ 3,040 / sq.foot, with an average ₹ 8,129 / sq.foot price in Vishakhapatnam. The properties with the lowest average prices have 1 BHK. They are 34 % cheaper than the average followed by properties with 2 BHK with a price at ₹ 4,268 / sq.foot.
The graph displaying the average prices displays the property type "Flat" as the most costly one. At an cost of ₹ 31.33 lakhs it is 21 % more expensive than the average price in Vishakhapatnam. "House" is seen as the second dearest property type. The dearest property type is "Villa" followed by "Land". At a price of ₹ 92.36 lakhs it is 349 % 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 ₹ 4,158 / sq.foot followed by "House" priced at ₹ 4,345 / sq.foot. "Land" is the most costly type of property with a ₹ 10,739 / sq.foot cost followed by "Villa" with an average price of ₹ 6,522 / sq.foot.