The average rent price in the Punjab region has had a strong fall in recent months. There has been a strong fall in the rent prices in this region.
The price per sq.feet in Punjab has fallen considerably in the last 6 months. During July, the average price per sq.feet was Rs. 59.65. The following month (August) the price had a considerable fall reaching Rs. 29.95 per sq.feet. The following two months (September, October) went through a considerable fall of 53 % in the rent price per sq.feet with regard to the previous two. In the last two months, the price per sq.feet has had a significant fall of 43 %. This has been obtained by comparing the price of Rs. 34.35 for the first four months of the sample with regard to the previous 4 months and the price of Rs. 14.84 per sq.feet for the last two months (November, December).
When referring to the price in Punjab(region), this has risen considerably in the last 6 months. In the first month sample for July the average price is Rs. 28,488. During August it went through a strong rise reaching Rs. 95,675 The price in the following months (September, October) had a strong rise of 117 % going from Rs. 62,081.5 to Rs. 72,366. During the last two months the price has gone down 85 % compared to the previous average values going from Rs. 67,223.75 a Rs. 57,463 in November y December.
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 76 % cheaper than the average price in Punjab followed by those with 2 with an average price of Rs. 23,691. The most affordable properties have 4 bedrooms. They are 12 % cheaper than the average followed by those properties with 3 bedrooms priced at Rs. 32,375.
Based on the average price per sq.feet those properties with 2 bedrooms are the most affordable ones with a price of Rs. 6.8 / sq.feet being Rs. 15.46 / sq.feet the average for Punjab. The properties with the lowest average price are those with 1 bedroom. These are 0 % more affordable than the average followed by those with 4 bedrooms with a price of Rs. 14.96 / 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. 57,538 it is 57 % cheaper than the average in Punjab. This is followed by "Commercial" with a cost of Rs. 31,186. The most expensive property type is "Building" and is 160 % more costly than the average, followed by "Residential Plot" with a cost of Rs. 68,000.
Based upon the average cost per sq.feet the most affordable property type is "Land with a an average price of Rs. 5.71 / sq.feet, followed by "Commercial" with a price of Rs. 7.43 / sq.feet. "Building" with an average price of Rs. 943 / sq.feet is the most expensive type of property followed by "Apartment" at a price of Rs. 49.08 / sq.feet.