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.feet in Punjab has risen considerably in the last 6 months. During May, the average price per sq.feet was Rs. 29.02. The following month (June) the price had a considerable rise reaching Rs. 226.59 per sq.feet. In the following two months (July, August) the rent price per sq.feet has increased notably to a 199 %. In the last two months, the price per sq.feet has had a significant rise of 157 %. This has been obtained by comparing the price of Rs. 191.24 for the first four months of the sample with regard to the previous 4 months and the price of Rs. 300.04 per sq.feet for the last two months (September, October).
When referring to the price in Punjab(region), this has risen considerably in the last 6 months. In the first month sample for May the average price is Rs. 87,125. During June it went through a strong rise reaching Rs. 1.17 lakhs The price in the following months (July, August) had a strong rise of 119 % going from Rs. 1.02 lakhs to Rs. 1.22 lakhs. During the last two months the price has gone up 113 % compared to the previous average values going from Rs. 1.12 lakhs a Rs. 1.26 lakhs in September y October.
The graph displaying the the average rent price per number of bedrooms shows that those with 1 bedroom are the most affordable ones. They are 84 % cheaper than the average price in Punjab followed by those with 3 with an average price of Rs. 44,333. The most expensive properties have 2 bedrooms. They are 156 % more expensive than the average followed by those properties with 4 bedrooms priced at Rs. 82,600.
Based on the average price per sq.feet those properties with 1 bedroom are the most affordable ones with a price of Rs. 133.79 / sq.feet being Rs. 329.26 / sq.feet the average for Punjab. The properties with the highest average price are those with 2 bedrooms. These are 2038 % more expensive than the average followed by those with 3 bedrooms with a price of Rs. 2,832.81 / sq.feet.
The graph displaying the average rent price according to the property type shows "Land" as the most affordable one. With an average cost of Rs. 1.34 lakhs it is 65 % cheaper than the average in Punjab. This is followed by "House" with a cost of Rs. 59,250. The most expensive property type is "Commercial Plot" and is 44 % more costly than the average, followed by "Residential Plot" with a cost of Rs. 1.64 lakhs.
Based upon the average cost per sq.feet the most affordable property type is "House with a an average price of Rs. 117.47 / sq.feet, followed by "Commercial" with a price of Rs. 155.04 / sq.feet. "Commercial Plot" with an average price of Rs. 12,784.81 / sq.feet is the most expensive type of property followed by "Apartment" at a price of Rs. 1,366.87 / sq.feet.