Cost Of Living For a Couple in Punjab 2024

Couple cost of living chart - average monthly expenditure in Punjab

Average Monthly Expenditure

Currency: INR
28,000 83,000 440,000
MINIMUM AVERAGE MAXIMUM
$330 $1,000 $5,300

Average monthly spending for couples in Punjab

How much money does a couple need in a month to survive in Punjab?

Couples in Punjab spend around 83,000 INR per month on average. Depending on the lifestyle, a couple can survive with a monthly budget as low as 28,000 INR or as high as 440,000 INR. Location and income are very important factors and have a huge influence on expenditure and budget.


Prices and cost of goods and services in Punjab


Chart showing the prices and cost of grocery, food, restaurant meals, market, and beverages in Punjab

Dining, food, and beverages costs


Fast food combo meal

70 INR 140 INR 230 INR
MINIMUM AVERAGE MAXIMUM
$0.84 $1.7 $2.8

Restaurant meal for one

240 INR 350 INR 710 INR
MINIMUM AVERAGE MAXIMUM
$2.8 $4.3 $8.5

Fine dining meal for one

470 INR 710 INR 2,800 INR
MINIMUM AVERAGE MAXIMUM
$5.7 $8.5 $34

Cappuccino or latte

58 INR 93 INR 140 INR
MINIMUM AVERAGE MAXIMUM
$0.70 $1.1 $1.7

Grocery and market costs


Milk large bottle

47 INR 56 INR 70 INR
MINIMUM AVERAGE MAXIMUM
$0.56 $0.67 $0.84

12 eggs

35 INR 47 INR 70 INR
MINIMUM AVERAGE MAXIMUM
$0.42 $0.56 $0.84

Fresh whole chicken

79 INR 100 INR 150 INR
MINIMUM AVERAGE MAXIMUM
$0.96 $1.2 $1.8

Pack of beef

93 INR 140 INR 280 INR
MINIMUM AVERAGE MAXIMUM
$1.1 $1.7 $3.4

Medium bag of rice

38 INR 51 INR 73 INR
MINIMUM AVERAGE MAXIMUM
$0.45 $0.62 $0.88

Bag of tomatos

14 INR 19 INR 35 INR
MINIMUM AVERAGE MAXIMUM
$0.17 $0.22 $0.42

Bag of apples

25 INR 33 INR 54 INR
MINIMUM AVERAGE MAXIMUM
$0.30 $0.39 $0.65
Chart showing the prices and cost of commute, travel, and transportation in Punjab


Commute, travel, and transportation costs


20 minutes taxi ride

59 INR 71 INR 140 INR
MINIMUM AVERAGE MAXIMUM
$0.71 $0.85 $1.7

Average car full tank

350 INR 470 INR 930 INR
MINIMUM AVERAGE MAXIMUM
$4.2 $5.6 $11

Average car 1-day rental

360 INR 470 INR 710 INR
MINIMUM AVERAGE MAXIMUM
$4.3 $5.7 $8.6

Average car price

170,000 INR 350,000 INR 470,000 INR
MINIMUM AVERAGE MAXIMUM
$2,100 $4,200 $5,600

Bus ticket one way

12 INR 18 INR 36 INR
MINIMUM AVERAGE MAXIMUM
$0.14 $0.21 $0.43

Car Service

470 INR 710 INR 1,400 INR
MINIMUM AVERAGE MAXIMUM
$5.7 $8.6 $17
Chart showing the prices and cost of utility, energy, water, and gas in Punjab


Utility cost (monthly)


Utility Bill - Couple

1,100 INR 3,700 INR 24,000 INR
MINIMUM AVERAGE MAXIMUM
$13 $45 $290

Internet and cable

350 INR 700 INR 930 INR
MINIMUM AVERAGE MAXIMUM
$4.2 $8.4 $11

Mobile phone charges

280 INR 470 INR 1,400 INR
MINIMUM AVERAGE MAXIMUM
$3.4 $5.6 $17

Leisure and activities costs


Movie ticket

170 INR 230 INR 350 INR
MINIMUM AVERAGE MAXIMUM
$2.1 $2.8 $4.2

One month gym membership

570 INR 710 INR 1,400 INR
MINIMUM AVERAGE MAXIMUM
$6.9 $8.6 $17
Chart showing the prices and cost of clothing and accessories in Punjab


Cloths and accessories costs


Pair of jeans or pants

420 INR 590 INR 890 INR
MINIMUM AVERAGE MAXIMUM
$5.1 $7.2 $11

Woman dress

400 INR 550 INR 1,800 INR
MINIMUM AVERAGE MAXIMUM
$4.8 $6.6 $21

Woman shoes

370 INR 510 INR 1,200 INR
MINIMUM AVERAGE MAXIMUM
$4.5 $6.1 $14

Men's shoes

320 INR 400 INR 790 INR
MINIMUM AVERAGE MAXIMUM
$3.9 $4.8 $9.5

Men suit

360 INR 450 INR 2,400 INR
MINIMUM AVERAGE MAXIMUM
$4.3 $5.4 $29

Regular t-shirt

180 INR 240 INR 710 INR
MINIMUM AVERAGE MAXIMUM
$2.1 $2.9 $8.6
Chart showing the prices and cost of housing, accommodation, and rent in Punjab


Housing costs / monthly rent


Studio apartment

5,900 INR 8,900 INR 24,000 INR
MINIMUM AVERAGE MAXIMUM
$72 $110 $290

1-bedroom apartment

8,900 INR 14,000 INR 36,000 INR
MINIMUM AVERAGE MAXIMUM
$110 $170 $430

2-bedroom apartment

12,000 INR 18,000 INR 47,000 INR
MINIMUM AVERAGE MAXIMUM
$140 $210 $570

Housing costs / Buying


Studio apartment

1.2M INR 1.8M INR 3.6M INR
MINIMUM AVERAGE MAXIMUM
$14,000 $21,000 $43,000

1-bedroom apartment

1.4M INR 2.4M INR 8.9M INR
MINIMUM AVERAGE MAXIMUM
$17,000 $29,000 $110,000

2-bedroom apartment

2.4M INR 7.1M INR 14M INR
MINIMUM AVERAGE MAXIMUM
$29,000 $86,000 $170,000
Chart showing the prices and cost of furniture in Punjab


Furniture Costs


King Size Bed

7,000 INR 8,700 INR 12,000 INR
MINIMUM AVERAGE MAXIMUM
$84 $110 $140

Double Bed

4,700 INR 7,000 INR 8,700 INR
MINIMUM AVERAGE MAXIMUM
$56 $84 $110

Single Bed

4,100 INR 5,400 INR 7,000 INR
MINIMUM AVERAGE MAXIMUM
$50 $65 $84

Living Room

7,800 INR 10,000 INR 35,000 INR
MINIMUM AVERAGE MAXIMUM
$94 $120 $420

Dining Table

3,500 INR 4,700 INR 8,700 INR
MINIMUM AVERAGE MAXIMUM
$42 $56 $110

Sofa or Couch

4,700 INR 6,400 INR 14,000 INR
MINIMUM AVERAGE MAXIMUM
$56 $77 $170
Chart showing the prices and cost of electronic devices and appliances in Punjab


Electronics and House Appliance Costs


TV Set

4,700 INR 7,000 INR 14,000 INR
MINIMUM AVERAGE MAXIMUM
$56 $84 $170

Fridge or Freezer

4,100 INR 6,400 INR 8,700 INR
MINIMUM AVERAGE MAXIMUM
$50 $77 $110

Washing Machine

5,400 INR 7,800 INR 14,000 INR
MINIMUM AVERAGE MAXIMUM
$65 $94 $170

Stove or Cooker

5,000 INR 6,400 INR 8,700 INR
MINIMUM AVERAGE MAXIMUM
$60 $77 $110

Mobile Phone

5,800 INR 7,000 INR 10,000 INR
MINIMUM AVERAGE MAXIMUM
$70 $84 $120

Laptop or Computer

6,400 INR 7,800 INR 14,000 INR
MINIMUM AVERAGE MAXIMUM
$77 $94 $170
Couple cost of living and expenditure to income ratio in Punjab

Couple expenditure to income ratio in Punjab

Analysing the how affordable it is for couples to live in Punjab

One of the most definite ways to determine how affordable a place is measuring the ratio of expenses to salary. A high expense-to-income to ratio indicates a high cost-of-living index while a low expenditure-to-salary ratio means the place is affordable to live in. Couples usually spend a larger chunk of their income than other population groups. A typical and healthy expenditure percentage for a couple of four ranges between 70% to 80%.


Spending to Income Ratio

86%

79% to 95%

( expenditure / income ) x 100


Couples in Punjab spend around 86% of their monthly income. Some couples spend as low as 79% of their income while some as high as 95%.

Distribution of monthly cost of living expenses of a couple in Punjab

How do couples spend their money in Punjab?

We asked thousands of couples about their spending habits and expenditure break down.


The percentage figures in this section are percentages of total spending not income. If you would like to see the percentage of expenses as related to income or salary, see other sections.

Housing and accomodation expenditure for couples

Accomodation Cost26%

26% of total expenses on average (19% to 36%)

LOW$110   9,400 INR
AVERAGE$340   28,000 INR
HIGH$1,800   150,000 INR
Per Month

Couples in Punjab typically spend from 19% to 36% of their total monthly expenditure on housing with 26% being the average. The average monthly spend on housing is 28,000 INR with expenditure ranging from 9,400 INR to 150,000 INR. This cost mainly goes for rent but it also includes other accommodation-related expenses.

Electricity, utilities, energy, water, internet, and mobile expenditure for couples

Cost of utilities8%

8% of total expenses on average (6% to 12%)

LOW$13   1,100 INR
AVERAGE$45   3,700 INR
HIGH$290   24,000 INR
Per Month

Utility expenditure like electricity, water, and gas in Punjab ranges from 6% to 12% of total expenses with 8% being the average for most couples. The average monthly cost of utilities is 3,700 INR with 1,100 INR and 24,000 INR being the upper and lower limits for a couple of four.

Transport, fuel, and commute expenditure for couples

Cost of transport and fuel9%

9% of total expenses on average (3% to 14%)

LOW$40   3,300 INR
AVERAGE$120   9,900 INR
HIGH$640   53,000 INR
Per Month

Fuel consumption and cost of transport depend heavily on whether a couple resides near school and work, but roughly speaking a couple would expect to spend from 3,300 INR to 53,000 INR in a month on commuting with 9,900 INR being the norm for most couples. This means that money spent on transport constitutes about 9% of total spending on average but can go as low as 3% or as high as 14%.

Food, groceries, and basic shopping expenditure for couples

Food and Groceries Cost17%

17% of total expenses on average (12% to 22%)

LOW$46   3,900 INR
AVERAGE$140   12,000 INR
HIGH$740   62,000 INR
Per Month

The average outlay on groceries and basic houshold items for a typical couple in a month in Punjab is 12,000 INR. The cost of groceries can range between 3,900 INR to 62,000 INR. Couples spend on average about 17% on food and groceries with upper and lower bounds of 12% and 22% respectively.

Healthcare and medical services expenditure for couples

Cost of healthcare14%

14% of total expenses on average (8% to 18%)

LOW$36   3,000 INR
AVERAGE$110   9,100 INR
HIGH$580   48,000 INR
Per Month

Couples in Punjab allocate 8% to 18% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending on medical services and clinic visits is around 14%. The range of medical expenses range from 3,000 INR to 48,000 INR with 9,100 INR being the norm for most couples.

Leisure and shopping expenditure for couples

Cost of leisure and shopping3%

3% of total expenses on average (1% to 6%)

LOW$20   1,700 INR
AVERAGE$60   5,000 INR
HIGH$320   26,000 INR
Per Month

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 1,700 INR to 26,000 INR with 5,000 INR being the average. Speaking of percentages, that equates to 1% to 6% of total expenses with an average of 3% for most couples.

Education and schooling expenditure for couples

Cost of education and schooling1%

1% of total expenses on average (0.00% to 3%)

LOW$6.6   550 INR
AVERAGE$20   1,700 INR
HIGH$110   8,800 INR
Per Month

Spending on education can vary drastically between different couples. On average, education constitutes 1% of the monthly expenditure of couples with 0.00% and 3% being the lower and upper bounds respectively. The average reported education cost is 1,700 INR per month with 550 INR being the minimum spent amount and 8,800 INR being the maximum.

Other Expenses21%

21% of total expenses on average (15% to 27%)

LOW$56   4,700 INR
AVERAGE$170   14,000 INR
HIGH$900   75,000 INR
Per Month
Percentage of couples who manage to save money from their income every month in Punjab

What percentage of couples in Punjab are able to save money and how much can they save?


Percentage of couples that reported their ability to save money


Saving Money
55%
Not Saving
45%

Almost 55% of surveyed couples in Punjab said that they can save some money at the end of each month while 45% reported that they have to utilize their whole income to survive.


Couple savings to income ratio in Punjab

Savings-to-Income Ratio

The savings-to-income ratio is measured as the percentage of income that people save over a specific period and it is simply calculated by dividing the saved money by total income and then multiplying the result by 100. (Savings / Income) x 100.


How much money do couples manage to add to their savings?

The amount of money that people can afford to save depends hugely on their income. It is better to focus on the percentage when trying to understand saving patterns.

Saving to Income Ratio

12% 21% of income 33%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

8,100 INR
$98
24,000 INR
$290
130,000 INR
$1,600
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for couples

Saving To Income Ratio% Couples
0% - 10%36%
10% - 20%27%
20% - 30%19%
30% - 40%8%
40% - 50%7%
> 50%3%

Interpretation and Analysis

Couples that are able to save money can put anywhere from 12% to 33% of their monthly income to their savings, with 21% being the average for most couples. The average monthly amount of money that couples can put aside is 24,000 INR with 8,100 INR and 130,000 INR being the minimum and maximum respectively.

Reasons that make it difficult for couples to save money in Punjab

Saving Challenges in Punjab

Reasons that make it difficult for couples to save money

We wanted to understand what is stopping couples from maximizing their savings in Punjab. Listed below are the answers given by the survey participants.


Reason% People
Low Income5%
High Expenses8%
Debt and Loans13%
Lack of Budgeting Skills12%
Impulsive Spending12%
Financial Emergencies7%
Living the moment5%
Will do it later21%
Inflation13%
Social Pressure3%
Market Instability2%

Around 5% of the couples said that their salary is too low to accommodate a portion for savings while 8% said that the high cost of living leaves little room for savings. 13% of the residents said that they are burdened with debt and find it challenging to save money. 12% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 12% of couples blamed impulsive spending as the reason for saving inability. Around 7% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 5% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 21% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 13% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.

Where do couples choose to put their savings in Punjab

Typical saving choices for couples in Punjab

Where do people choose to put their savings?


Saving Type% People
Emergency Funds12%
Gold13%
Savings Accounts17%
Retirement Accounts10%
Cash Savings21%
Real Estate9%
Investment5%
Stocks4%
Bonds5%
Mutual Funds2%
Certificates of Deposit3%
A typical and healthy budgeting structure. The 50-30-20 rule

A typical and healthy budgeting structure

The 50/30/20 rule

Spending among different people can vary significantly based on factors such as their income, lifestyle, location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule, which suggests allocating your income into three main categories in the following percentages.

  • 50% for needs and financial obligations

    This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.

  • 30% for wants and discretionary spending

    This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.

  • 20% for savings and emergency fund

    This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.

About financial planning, money management, and household budgeting

The 50/30/20 rule is used as a general guideline but may not be the best choice for all people. There are in fact many budgeting plans out there like the 70/20/10 and the 60/20/20 rules, all claiming to be the best. More important than all of this is to establish financial discipline by creating a budget tailored to your specific financial goals and situation. It is very important that your financial outflow be less than your income to maintain a healthy cash flow.

Income and cost of living compatibility. Is it affordable or economical for couples to live in Punjab

Affordable living in Punjab

Income and cost of living compatibility

We asked couples one simple question and recorded their answers.

Is it affordable or economical to live in Punjab?


Yes
52%
No
48%

Around 52% of surveyed couples think that living in Punjab is affordable with proper budgeting while 48% reported that it is just too expensive and not affordable even with frugality and thriftness.

How easily is cost-cutting for couples. Are there plenty of low-cost options in Punjab

Low-cost alternatives in Punjab

People are always looking for ways to cut down expenses and reduce expenditures. The hallmark of any affordable place is the availability of discount stores, bargain deals, smart or secondhand shopping, refurbished items, and couponing. We asked couples how easily cost-cutting is and the answers were distributed as follows:

Plenty of low-cost options59%

Few low-cost options41%


Based on the survey, 59% of the couples living in Punjab have no problem finding low-cost alternatives to support a frugal lifestyle while 41% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.

Emergency Funds For Couples

An emergency fund is a financial safety net comprised of easily accessible savings set aside to cover unexpected expenses or financial emergencies, typically amounting to three to six months' worth of living expenses. We asked couples of Punjab whether they have an emergency fund and the answers were as follows.

Yes52%

No48%


Based on the survey, 48% of the couples living in Punjab said that they don't have an emergency fund while 52% said that they do.

Financial literacy and difficulty in budgeting and financial planning for couples in Punjab

Financial Literacy in India

Financial literacy is the knowledge of concepts and principles related to personal finance that allow individuals to make informed decisions regarding their money such as budgeting, saving, investing, borrowing, managing debt, financial risk management, and planning.

Financial Leteracy44%


We asked couple guardians and parents in Punjab whether they acquired any adequate personal financial training in their lives. Approximately 56% of the people who participated in the survey said that they are not well informed about the topics of budgeting, saving, etc., and just manage things based on their own experience, while 44% said that they know about the general principles of personal finance from sources other than their own experience.


Difficulty in Budgeting and Financial Planning

We wanted to understand whether couples of India have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 46% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 54% said that they have everything under control.

Struggles with finance46%

Easily manages finances54%

Financial goals and targets of couples living in Punjab

Financial goals of couples in Punjab

In an attempt to understand the economic situation in Punjab, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.


Financial Goal% People
Emergency Fund8%
Debt Reduction43%
Retirement Savings10%
Education Funding7%
Homeownership18%
Investing6%
Travel or Lifestyle6%
Healthcare Expenses14%
Financial Independence5%

Around 8% of couples said that their main goal is to establish an emergency fund to cover unexpected expenses while 43% said their number one priority is to pay off high-interest debt or loans and improve credit. 10% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 7% reported that their priority is saving for the tuition fees and education costs of their children while 18% choose to buy a home or pay off existing mortgage before other things. 6% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 6% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 14% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Chart showing the percentage of couples who are in debt in Punjab

Debt, loans, and mortgages in Punjab


Percentage of couples who are in debt


In Debt
29%
Debt Free
72%

According to the survey, 29% of the couples in Punjab have some kind of debt, loan, mortgage, or credit card payments while 72% reported that they don't have financial obligations to banks.


Chart showing debt-to-income ratio in Punjab

Debt-to-income ratio in Punjab

Debt to income ratio

33%

24% to 42%

( monthly debt payment / monthly income ) x 100

Interpretation

The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 33% of a couple's monthly income in Punjab goes to debt settlement.


Debt levels

Monthly debt settlement payment as percentage of monthly income

Debt-to-income ratio% People
> 60%3%
50% - 60%18%
40% - 50%15%
30% - 40%17%
20% - 30%10%
10% - 20%12%
0% - 10%25%

According to our data, 3% of the debtors in Punjab pay 60%+ of their income as debt settlement while 18% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 15% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 17% dedicated 30% to 40% of income for same. Things are looking brighter for 10% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.


Distribution by type of debt in Punjab

Debt% People
Real Estate Mortgage8%
Auto Loan15%
Student Loan4%
Credit Card30%
Personal Loan43%

8% of debtors in Punjab confirm that real estate mortgages constitutes the main part of their outstanding debt while 30% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 15% of people and personal loans rose at 43%. Lastly, student loans are the main source of debt for 4% of debtors in Punjab.


About credit score and debt management

Managing debt is a critical aspect of maintaining a favorable credit score. Debt reduction is the first thing you should do improve your financial situation. Getting rid of debt takes precedence over saving money because of interest rates.

Good debt vs. Bad debt

Not all debt is bad. Good debt typically refers to borrowing money for investments that can increase in value or generate income over time like purchasing a home or acquiring student loans. On the other hand, bad debt involves borrowing for things that fail to generate lasting value like high-interest credit card debt used for non-essential expenses like luxury items or vacations.


Loan Affordability Index in Punjab

Besides measuring the loan-to-income ratio, we asked couples of Punjab how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.

Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.

Frequency% People
Never50%
Once a year24%
Twice a year13%
Three times a year9%
Four times a year4%
Housing and accommodation affordability, property price to income ratio, rent to income ratio, and housing affordability index chart in Punjab

Housing costs, accommodation, and housing affordability in Punjab

Rental costs and house/apartment prices can vary drastically between different areas and locations.


Rent Cost in Punjab

Monthly Rent Prices

Studio apartment monthly rent cost

5,900 INR 8,900 INR 24,000 INR
MINIMUM AVERAGE MAXIMUM
$72 $110 $290

1-bedroom apartment monthly rent cost

8,900 INR 14,000 INR 36,000 INR
MINIMUM AVERAGE MAXIMUM
$110 $170 $430

2-bedroom apartment monthly rent cost

12,000 INR 18,000 INR 47,000 INR
MINIMUM AVERAGE MAXIMUM
$140 $210 $570

3-bedroom apartment monthly rent cost

14,000 INR 24,000 INR 65,000 INR
MINIMUM AVERAGE MAXIMUM
$170 $290 $780

Furnished apartment monthly rent cost

28,000 INR 71,000 INR 140,000 INR
MINIMUM AVERAGE MAXIMUM
$340 $860 $1,700

Townhouse monthly rent cost

24,000 INR 36,000 INR 100,000 INR
MINIMUM AVERAGE MAXIMUM
$290 $430 $1,200

House monthly rent cost

28,000 INR 71,000 INR 140,000 INR
MINIMUM AVERAGE MAXIMUM
$340 $860 $1,700

Villa monthly rent cost

36,000 INR 89,000 INR 140,000 INR
MINIMUM AVERAGE MAXIMUM
$430 $1,100 $1,700

The monthly rental cost of a studio apartment in Punjab ranges between 5,900 INR and 24,000 INR, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 8,900 INR to 36,000 INR. Two-bedroom rentals rate ranges between 12,000 INR and 47,000 INR per month. The monthly rental for a three-bedroom apartment ranges from 14,000 INR to 65,000 INR. The average rent of a townhouse in Punjab is around 36,000 INR while house rental costs can be as high as 71,000 INR per month. Finally, if you want to rent a villa, expect to pay anywhere from 36,000 INR to 140,000 INR per month.



Apartment and house prices in Punjab

Cost of buying a property

Studio apartment price

1.2M INR 1.8M INR 3.6M INR
MINIMUM AVERAGE MAXIMUM
$14,000 $21,000 $43,000

1-bedroom apartment price

1.4M INR 2.4M INR 8.9M INR
MINIMUM AVERAGE MAXIMUM
$17,000 $29,000 $110,000

2-bedroom apartment price

2.4M INR 7.1M INR 14M INR
MINIMUM AVERAGE MAXIMUM
$29,000 $86,000 $170,000

3-bedroom apartment price

7.9M INR 12M INR 36M INR
MINIMUM AVERAGE MAXIMUM
$95,000 $140,000 $430,000

Townhouse price

10M INR 24M INR 89M INR
MINIMUM AVERAGE MAXIMUM
$120,000 $290,000 $1.1M

House price

12M INR 71M INR 100M INR
MINIMUM AVERAGE MAXIMUM
$140,000 $860,000 $1.2M

Villa price

14M INR 79M INR 120M INR
MINIMUM AVERAGE MAXIMUM
$170,000 $950,000 $1.4M

The average price of a studio apartment in Punjab can range from 1.2M INR to 3.6M INR depending on location. One bedroom cost can be anywhere from 1.4M INR to 8.9M INR. A villa can cost you 79M INR on average with prices ranging from 14M INR to 120M INR.


If you're leasing or purchasing, housing costs in Punjab will probably constitute your biggest expenditure, yet it's an area where you wield considerable influence. This is due to the substantial variance in housing prices across communities. Keep in mind the location of your workplace and the accessibility of essential amenities to prevent negating the savings from lower rental rates with increased transportation expenses.

House / apartment prices to income ratio


Property price to income ratio

( average property price / average monthly income ) x 100


35 x99 monthly income 208
MINIMUM AVERAGE MAXIMUM

Property prices in Punjab can be x99 to x208 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x99 multiples of the average monthly salary in Punjab.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


20% 31% of income 41%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Punjab is around 31%. This means that people pay 31% of their income for rent. Those figures can range from 20% to 41% depending on the salary, location, and type of property.


The housing-to-income ratio is a very important metric to evaluate and measure how affordable living is in a particular area, city, or country since housing comprises the biggest chunk of expenditure. A higher housing to income ratio means that the place is relatively expensive. The figure by itself does tell much. It only starts to make sense when comparing the housing to income ratio across different locations.

Housing affordability index

The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.

Housing Affordability Index
28%

Property Taxes

Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.


FROM
2%
AVERAGE
3%
TO
4%

Home Maintenance Costs

Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.


110 INR 1,400 INR 14,000 INR
MINIMUM AVERAGE MAXIMUM

Urban vs. rural living costs

Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.

Monthly costs and expenses of energy and basic utilities in Punjab

Utilities expenditure can vary slightly between different areas and locations.


Energy, electricity, water, gas, internet, and mobile cost in Punjab

Utility Bill Cost / Electricity + Water + Gas / Couple

1,100 INR 3,700 INR 24,000 INR
MINIMUM AVERAGE MAXIMUM
$13 $45 $290

Internet and cable cost

350 INR 700 INR 930 INR
MINIMUM AVERAGE MAXIMUM
$4.2 $8.4 $11

Mobile phone bill and charges

280 INR 470 INR 1,400 INR
MINIMUM AVERAGE MAXIMUM
$3.4 $5.6 $17

Because most utility bills club electricity, water, and gas costs in one bill, we can't provide a breakup for each type of utility and will display electricity, gas, and water as single cost.


The average monthly energy and water consumption of couples is around 3,700 INR. The cost of internet and WiFi ranges from 350 INR to 930 INR with 700 INR being the average internet bill. Finally, the average monthly mobile charges is around 470 INR but can range between 280 INR and 1,400 INR depending on consumption. Mobile charges include both calling minutes as well as data packages.


Energy / Utility expense to income ratio


( monthly utility expenses / monthly income ) x 100


3.2% 6.3% of income 11%
MINIMUM AVERAGE MAXIMUM

The average utility-to-income ratio in Punjab is around 6.3%. This means that people pay 6.3% of their income for energy, water, internet, and mobile charges. Those figures can range from 3.2% to 11% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Punjab

Grocery / Food expenditure and prices can vary drastically between different areas and locations.


Prices and cost of goods and services in Punjab

Dining out, food, and beverages costs. Price variations for common food items.

Fast food combo meal price

70 INR 140 INR 230 INR
MINIMUM AVERAGE MAXIMUM
$0.84 $1.7 $2.8

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Punjab is approximatly 140 INR with meal cost ranging from 70 INR to 230 INR. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

240 INR 350 INR 710 INR
MINIMUM AVERAGE MAXIMUM
$2.8 $4.3 $8.5

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 240 INR and 710 INR with 350 INR being the average price of a plate for one person at a regular restaurant in Punjab.

Fine dining meal for one price

470 INR 710 INR 2,800 INR
MINIMUM AVERAGE MAXIMUM
$5.7 $8.5 $34

The price range of a meal at fine-dining restaurant is 470 INR to 2,800 INR with the average cost being 710 INR for one person. This is what you would expect to pay a top-tier diner in Punjab.

Beverage prices, cappuccino, latte etc..

58 INR 93 INR 140 INR
MINIMUM AVERAGE MAXIMUM
$0.70 $1.1 $1.7

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Punjab is around 93 INR. Price ranges between 58 INR and 140 INR depending on the type of beverage, the size, and optional add-ons.



Grocery and market costs

Large bottle of milk price

47 INR 56 INR 70 INR
MINIMUM AVERAGE MAXIMUM
$0.56 $0.67 $0.84

The average price of a large bottle of milk in Punjab is 56 INR. The maximum what you would pay for milk is 70 INR and the minimum being 47 INR depending on the brand of milk and other properties.

12 eggs price

35 INR 47 INR 70 INR
MINIMUM AVERAGE MAXIMUM
$0.42 $0.56 $0.84

A dozen eggs costs around 47 INR on average with 35 INR and 70 INR being the lower and upper limits respectively.

Fresh whole chicken price

79 INR 100 INR 150 INR
MINIMUM AVERAGE MAXIMUM
$0.96 $1.2 $1.8

The price range of a fresh whole chicken in Punjab is between 79 INR and 150 INR depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 100 INR.

Pack of beef price

93 INR 140 INR 280 INR
MINIMUM AVERAGE MAXIMUM
$1.1 $1.7 $3.4

The price of a regular pack of beef or meat is around 140 INR. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

38 INR 51 INR 73 INR
MINIMUM AVERAGE MAXIMUM
$0.45 $0.62 $0.88

A bag of rice in Punjab costs around 51 INR on average with prices rangeing between 38 INR and 73 INR depending on the brand and quality.

Bag of tomatos price

14 INR 19 INR 35 INR
MINIMUM AVERAGE MAXIMUM
$0.17 $0.22 $0.42

A bag of tomatoes costs anywhere from 14 INR to 35 INR. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

25 INR 33 INR 54 INR
MINIMUM AVERAGE MAXIMUM
$0.30 $0.39 $0.65

A bag of apples costs 33 INR on average. A bag of apples denotes 1Kg or 1lb depending on location.


Grocery and food expenditure to income ratio


( monthly grocery expenses / monthly income ) x 100


20% 29% of income 35%
MINIMUM AVERAGE MAXIMUM

The average grocery-to-income ratio in Punjab is around 29%. This means that couples spend 29% of their income on grocery and basic household items. The expenditure can range from 20% to 35% depending on salary and location.


Expenditure on food and grocery for couples

Couples' spending on grocery ranges from 3,900 INR to 62,000 INR with the location, income, and size of the couple being the most determinite factors.

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