The prices in real estate in Vizag, in the Andhra Pradesh region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per sq.foot in Vizag has fallen in the last 6 months. In October, the average price per sq.foot was ₹ 7,118. In the following month the price per sq.foot decreased considerably to ₹ 5,129. In the following two months the price per sq.foot has barely changed, going from ₹ 6,123.5 to ₹ 6,192 per sq.foot. The price per sq.foot has increased 111 % 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 ₹ 6,157.75 to ₹ 6,841 during February, and March.
Based upon to the price in Vizag (cities), this has gone up in the last 6 months. The price in October is ₹ 47.85 lakhs, rising in November till ₹ 51.12 lakhs. During the following two months (December, January) the average price had a considerable increase of 121 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 89 %, going from ₹ 54.72 lakhs to ₹ 48.85 lakhs in February and March.
The graph displaying the average price for BHK illustrates that those properties with 2 BHK are the cheapest ones. At a price of ₹ 38.7 lakhs they are 4 % more affordable than the average price for Vizag. The properties with the highest average price have 4 BHK, Their price is 72 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 64.6 lakhs.
With regard to the average price per sq.foot , those properties with 2 BHK are the cheapest ones at a cost of ₹ 3,679 / sq.foot, with an average ₹ 7,913 / sq.foot price in Vizag. The properties with the highest average prices have 1 BHK. They are 44 % more expensive than the average followed by properties with 3 BHK with a price at ₹ 4,039 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 38.7 lakhs it is 48 % cheaper than the average price in Vizag. "Villa" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of ₹ 54.73 lakhs it is 416 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "Land" at an average cost of ₹ 2,988 / sq.foot followed by "Villa" priced at ₹ 3,704 / sq.foot. "Commercial" is the most costly type of property with a ₹ 57,809 / sq.foot cost followed by "House" with an average price of ₹ 4,455 / sq.foot.