The prices in real estate in Zirakpur, in the Punjab 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 Zirakpur has increased strongly during the last 6 months. In November, the average price per sq.foot was ₹ 3,381. In December this price pretty much remained the same at a value of ₹ 3,421 per sq.foot. The price for the following two months in (January, February) had a considerable increment of 1193 %. The price per sq.foot has had a considerable increase of 197 % 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 ₹ 21,984.75 to ₹ 43,362 during March, and April.
Based upon to the price in Zirakpur (cities), this has gone up considerably in the last 6 months. In our first sample month during November, the average price is ₹ 50.26 lakhs. In December This price remains at ₹ 48.73 lakhs. During the following two months (January, February) the average price had a considerable increase of 151 % 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 risen strongly 138 % 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 ₹ 84.39 lakhs they are 55 % more affordable than the average price for Zirakpur. The properties with the highest average price have 4 BHK, Their price is 20 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 69.64 lakhs.
With regard to the average price per sq.foot , those properties with 3 BHK are the cheapest ones at a cost of ₹ 37,164 / sq.foot, with an average ₹ 44,546 / sq.foot price in Zirakpur. The properties with the highest average prices have 1 BHK. They are 10 % more expensive than the average followed by properties with 2 BHK with a price at ₹ 42,209 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 84.39 lakhs it is 54 % cheaper than the average price in Zirakpur. "House" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Villa". At a price of ₹ 84.56 lakhs it is 121 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "Villa" at an average cost of ₹ 3,879 / sq.foot followed by "Land" priced at ₹ 4,716 / sq.foot. "Commercial" is the most costly type of property with a ₹ 1.22 lakhs / sq.foot cost followed by "Flat" with an average price of ₹ 26,909 / sq.foot.