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 April, the average price per sq.feet was Rs. 1,278.85. The following month (May) the price had a considerable rise reaching Rs. 25,612.77 per sq.feet. In the following two months (June, July) the rent price per sq.feet has increased notably to a 132 %. In the last two months, the price per sq.feet has fallen 90 %. This has been obtained by comparing the price Rs. 15,614.79 for the first four months of the sample with regard to the previous 4 months and the price Rs. 14,127.77 per sq.feet for the last two months (August, September).
When referring to the price in Punjab(region), this has risen considerably in the last 6 months. April has an average price of Rs. 1.01 lakhs. During Maythe price had a strong fall till Rs. 79,611. The price in the following months (June, July) had a strong rise of 930 % going from Rs. 90,405.5 to Rs. 8.4 lakhs. During the last two months the price has had a considerable fall of 73 % with respect to the previous four months going from Rs. 4.65 lakhs a Rs. 3.4 lakhs.
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 42 % cheaper than the average price in Punjab followed by those with 2 with an average price of Rs. 33,693. The most expensive properties have 4 bedrooms. They are 112 % more expensive than the average followed by those properties with 3 bedrooms priced at Rs. 39,866.
Based on the average price per sq.feet those properties with 3 bedrooms are the most affordable ones with a price of Rs. 12 / sq.feet being Rs. 11,471.78 / sq.feet the average for Punjab. The properties with the lowest average price are those with 1 bedroom. These are 100 % more affordable than the average followed by those with 4 bedrooms with a price of Rs. 24 / sq.feet.
The graph displaying the average rent price according to the property type shows "" as the most affordable one. With an average cost of Rs. 51,429 it is 43 % cheaper than the average in Punjab. This is followed by "Commercial" with a cost of Rs. 35,375. The most expensive property type is "Building" and is 185 % more costly than the average, followed by "House" with a cost of Rs. 69,748.
Based upon the average cost per sq.feet the most affordable property type is "Commercial with a an average price of Rs. 2 / sq.feet, followed by "House" with a price of Rs. 11 / sq.feet. "Building" with an average price of Rs. 922 / sq.feet is the most affordable type of property followed by "Apartment" at a price of Rs. 36 / sq.feet.