The average price in the Punjab region has had a strong decrease in recent months. There has been a strong deflation in the prices in this region.
The price per sq.feet in Punjab has risen considerably in the last 6 months. During December, the average price per sq.feet was Rs. 29,734. The following month (January) the price had a considerable deflation reaching Rs. 24,212 per sq.feet. The following two months (February, March) went through a considerable deflation of 70 % in the price per sq.feet with regard to the previous two. In the last two months, the price per sq.feet has had a significant increase of 129 %. This has been obtained by comparing the price of Rs. 22,870.25 for the first four months of the sample with regard to the previous 4 months and the price of Rs. 29,473 per sq.feet for the last two months (April, May).
Based upon to the price in Punjab(region), these have remained the same in the last 6 months. December has an average price of Rs. 1.27 crores. During January the price had a strong deflation till Rs. 94.63 lakhs. The average price for the following two months (February, March) increased from Rs. 1.11 crores to Rs. 1.24 crores. During the last two months the price has had a considerable increase of 119 % with respect to the previous four months going from Rs. 1.17 crores a Rs. 1.4 crores.
The graph displaying the the average price per number of bedrooms shows that those with 1 bedroom are the cheapest ones. They are 78 % more affordable than the average price in Punjab followed by those with 2 with an average price of Rs. 1.33 crores. The most costly properties have 3 bedrooms. They are 38 % more expensive than the average followed by those properties with 4 bedrooms priced at Rs. 1.39 crores.
Based on the average price per sq.feet those properties with 1 bedroom are the cheapest ones with a price of Rs. 5,867 / sq.feet being Rs. 29,002 / sq.feet the average value within the Punjab region. The properties with the most expensive average price are those with 4 bedrooms. These are 752 % more costly than the average followed by those with 3 bedrooms with a price of Rs. 1.68 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. 1.5 crores it is 42 % more affordable than the average in Punjab. This is followed by "Land" with a price of Rs. 1.07 crores. The dearest property type is "Commercial Plot" and is 114 % more expensive than the average, followed by "House" with a cost of Rs. 2.76 crores.
Based on the average cost per sq.feet the cheapest property type is "Land with a an average cost of Rs. 15,118 / sq.feet, followed by "Apartment" with a price of Rs. 23,065 / sq.feet. "Commercial Plot" with an average price of Rs. 2.15 lakhs / sq.feet is the most costly type of property followed by "House" at a price of Rs. 41,377 / sq.feet.