The prices in real estate in Warangal, 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 Warangal has increased strongly during the last 6 months. In November, the average price per sq.foot was ₹ 2,966. In the following month the price per sq.foot increased considerably to ₹ 4.37 lakhs. The price for the following two months in (January, February) had a considerable increment of 175 %. The price per sq.foot has had a considerable deflation of 4 % 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 ₹ 3.03 lakhs to ₹ 12,594 during March, and April.
Based upon to the price in Warangal (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during November, is ₹ 48.57 lakhs. During December the price went through a considerable rise reaching ₹ 1.14 crores. During the following two months (January, February) the average price had a considerable reduction of 74 % 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 ₹ 70.92 lakhs to ₹ 28.8 lakhs, which means a 41 % fall.
The graph displaying the average price for BHK illustrates that those properties with 2 BHK are the most costly ones. At a price of ₹ 31.81 lakhs they are 18 % more expensive than the average price for Warangal. Following this ranking we find those properties with 1 at an average price of ₹ 48.66 lakhs. The properties with the highest average price have 4 BHK, Their price is 318 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 81.4 lakhs.
With regard to the average price per sq.foot , those properties with 4 BHK are the cheapest ones at a cost of ₹ 2,863 / sq.foot, with an average ₹ 14,125 / sq.foot price in Warangal. The properties with the highest average prices have 3 BHK. They are 142 % more expensive than the average followed by properties with 2 BHK with a price at ₹ 8,584 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 31.81 lakhs it is 48 % cheaper than the average price in Warangal. "House" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Flat". At a price of ₹ 62.67 lakhs it is 114 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "House" at an average cost of ₹ 3,031 / sq.foot followed by "Land" priced at ₹ 4,089 / sq.foot. "Villa" is the cheapest type of property with a ₹ 11,806 / sq.foot value followed by "Flat" with an average price of ₹ 11,548 / sq.foot.