The average price in the Punjab region has had an strong increase in recent months. There has been a strong inflation in the prices in this region.
The price per sq.feet in Punjab has increased strongly in the last 6 months. During February, the average price per sq.feet was Rs. 63,099. The following month (March) the price had a considerable increase reaching Rs. 2.18 lakhs per sq.feet. In the following two months (April, May) the price per sq.feet has risen strongly to a 560 %. In the last two months, the price per sq.feet has had a significant increase of 175 %. This has been obtained by comparing the price of Rs. 4.64 lakhs for the first four months of the sample with regard to the previous 4 months and the price of Rs. 8.1 lakhs per sq.feet for the last two months (June, July).
Based upon to the price in Punjab(region), this has increased considerably in the last 6 months. In the first month sample for February the average price is Rs. 78.25 lakhs. During March it went through a strong inflation reaching Rs. 1.08 crores The price in the following months (April, May) had a strong increment of 128 % going from Rs. 93.02 lakhs to Rs. 1.19 crores. During the last two months the average price has remained stagnant and has gone from Rs. 1.06 crores to Rs. 1.03 crores during June and July.
The graph displaying the the average price per number of bedrooms shows that those with 2 bedrooms are the cheapest ones. They are 50 % more affordable than the average price in Punjab followed by those with 3 with an average price of Rs. 82.85 lakhs. The most costly properties have 1 bedroom. They are 109 % more expensive than the average followed by those properties with 4 bedrooms priced at Rs. 1.46 crores.
Based on the average price per sq.feet those properties with 4 bedrooms are the cheapest ones with a price of Rs. 6,804 / sq.feet being Rs. 8.25 lakhs / sq.feet the average value within the Punjab region. The properties with the most expensive average price are those with 2 bedrooms. These are 19 % more costly than the average followed by those with 1 bedroom with a price of Rs. 8.14 lakhs / sq.feet.
The graph displaying the average price according to the property type shows "Commercial" as the cheapest one. With an average cost of Rs. 1.05 crores it is 60 % more affordable than the average in Punjab. This is followed by "Apartment" with a price of Rs. 58.32 lakhs. The dearest property type is "Building" and is 398 % more expensive than the average, followed by "Land" with a cost of Rs. 1.53 crores.
Based on the average cost per sq.feet the cheapest property type is "Apartment with a an average cost of Rs. 7,228 / sq.feet, followed by "Residential Plot" with a price of Rs. 8,486 / sq.feet. "Land" with an average price of Rs. 1.08 crores / sq.feet is the most costly type of property followed by "House" at a price of Rs. 10.43 lakhs / sq.feet.