The average rent price in the Punjab region has had an strong rise in recent months. There has been a strong rise in the rent prices in this region.
The price per sq.foot in Punjab has risen considerably in the last 6 months. During October, the average price per sq.foot was ₹ 12.94. The following month (November) the price had a considerable rise reaching ₹ 15.51 per sq.foot. The following two months (December, January) went through a considerable fall of 75 % in the rent price per sq.foot with regard to the previous two. In the last two months, the price per sq.foot has had a significant rise of 181 %. This has been obtained by comparing the price of ₹ 12.41 for the first four months of the sample with regard to the previous 4 months and the price of ₹ 22.48 per sq.foot for the last two months (February, March).
When referring to the price in Punjab(region), this has risen considerably in the last 6 months. In the first month sample October the average price is ₹ 16,910. In November the price remains at ₹ 17,135. The average price for the following two months (December, January) fell 91 % compared to the previous two. During the last two months the price has had a considerable rise of 153 % with respect to the previous four months going from ₹ 16,229.25 a ₹ 24,761.
The graph displaying the the average rent price per number of BHK shows that those with 1 BHK are the most affordable ones. They are 78 % cheaper than the average price in Punjab followed by those with 2 with an average price of ₹ 12,243. The most affordable properties have 4 BHK. They are 14 % cheaper than the average followed by those properties with 3 BHK priced at ₹ 25,400.
Based on the average price per sq.foot those properties with 1 BHK are the most affordable ones with a price of ₹ 11.39 / sq.foot being ₹ 25.31 / sq.foot the average for Punjab. The properties with the highest average price are those with 3 BHK. These are 117 % more expensive than the average followed by those with 4 BHK with a price of ₹ 14.19 / sq.foot.
The graph displaying the average rent price according to the property type shows "Villa" as the most affordable one. With an average cost of ₹ 34,747 it is 63 % cheaper than the average in Punjab. This is followed by "Flat" with a cost of ₹ 13,667. The most expensive property type is "House" and is 210 % more costly than the average, followed by "Land" with a cost of ₹ 76,304.
Based upon the average cost per sq.foot the most affordable property type is "Commercial with a an average price of ₹ 5 / sq.foot, followed by "Villa" with a price of ₹ 8 / sq.foot. "House" with an average price of ₹ 638 / sq.foot is the most expensive type of property followed by "Land" at a price of ₹ 62.56 / sq.foot.