Cost Of Living in Punjab 2024
Average monthly spending for singles, couples, students, and families in Punjab
Whether you're living in Punjab or planning to move there, it is very important to know the cost of living and the prices of things. Here we list the average spending for the four main population groups.
Average Monthly Expenditure
Currency: INR
Monthly Expenditure ▶ Single
Currency: INR
Monthly Expenditure ▶ Couple
Currency: INR
Monthly Expenditure ▶ Family
Currency: INR
Monthly Expenditure ▶ Student
Currency: INR
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Punjab is 50,000 INR. Expenses can range from 6,900 INR at the minimum level to 330,000 INR at the highest end.
Couples
The average monthly spending of couples in Punjab is 83,000 INR. Expenditure can range from 28,000 INR to 440,000 INR per month.
Families
The average cost of living for families in Punjab is 110,000 INR per month. Families spend anywhere from 39,000 INR to 720,000 INR.
Students
The average monthly expenditure for students in Punjab is 37,000 INR. Students spend from 5,500 INR to 240,000 INR per month.
Spending behavior can change drastically from one person to another. It is best to consider the minimum, average, and maximum spending together.
Prices and cost of goods and services in Punjab
Dining, food, and beverages costs
Fast food combo meal
Restaurant meal for one
Fine dining meal for one
| 470 INR | 710 INR | 2,800 INR |
Cappuccino or latte
Grocery and market costs
Milk large bottle
12 eggs
Fresh whole chicken
Pack of beef
Medium bag of rice
Bag of tomatos
Bag of apples
Commute, travel, and transportation costs
20 minutes taxi ride
Average car full tank
Average car 1-day rental
Average car price
| 170,000 INR | 350,000 INR | 470,000 INR |
Bus ticket one way
Car Service
| 470 INR | 710 INR | 1,400 INR |
Utility cost (monthly)
Utility Bill - Individual
| 420 INR | 3,000 INR | 20,000 INR |
Utility Bill - Couple
| 1,100 INR | 3,700 INR | 24,000 INR |
Utility Bill - Family
| 1,900 INR | 5,500 INR | 36,000 INR |
Internet and cable
Mobile phone charges
| 280 INR | 470 INR | 1,400 INR |
Leisure and activities costs
Movie ticket
One month gym membership
| 570 INR | 710 INR | 1,400 INR |
Cloths and accessories costs
Pair of jeans or pants
Woman dress
| 400 INR | 550 INR | 1,800 INR |
Woman shoes
| 370 INR | 510 INR | 1,200 INR |
Men's shoes
Men suit
| 360 INR | 450 INR | 2,400 INR |
Regular t-shirt
Housing costs / monthly rent
Studio apartment
| 5,900 INR | 8,900 INR | 24,000 INR |
1-bedroom apartment
| 8,900 INR | 14,000 INR | 36,000 INR |
2-bedroom apartment
| 12,000 INR | 18,000 INR | 47,000 INR |
Housing costs / Buying
Studio apartment
| 1.2M INR | 1.8M INR | 3.6M INR |
1-bedroom apartment
| 1.4M INR | 2.4M INR | 8.9M INR |
2-bedroom apartment
| 2.4M INR | 7.1M INR | 14M INR |
Furniture Costs
King Size Bed
| 7,000 INR | 8,700 INR | 12,000 INR |
Double Bed
| 4,700 INR | 7,000 INR | 8,700 INR |
Single Bed
| 4,100 INR | 5,400 INR | 7,000 INR |
Living Room
| 7,800 INR | 10,000 INR | 35,000 INR |
Dining Table
| 3,500 INR | 4,700 INR | 8,700 INR |
Sofa or Couch
| 4,700 INR | 6,400 INR | 14,000 INR |
Electronics and House Appliance Costs
TV Set
| 4,700 INR | 7,000 INR | 14,000 INR |
Fridge or Freezer
| 4,100 INR | 6,400 INR | 8,700 INR |
Washing Machine
| 5,400 INR | 7,800 INR | 14,000 INR |
Stove or Cooker
| 5,000 INR | 6,400 INR | 8,700 INR |
Mobile Phone
| 5,800 INR | 7,000 INR | 10,000 INR |
Laptop or Computer
| 6,400 INR | 7,800 INR | 14,000 INR |
Expenditure to Income Ratio 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.
Spending to Income Ratio
91%
83% to 100%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 4% |
| 50% - 60% | 9% |
| 60% - 70% | 15% |
| 70% - 80% | 25% |
| 80% - 90% | 20% |
| 90% - 100% | 11% |
| 100% - 110% | 6% |
| 110% - 120% | 4% |
| 120% - 130% | 3% |
| 130% - 140% | 2% |
| > 140% | 2% |
Interpretation and Analysis
The average spending-to-salary ratio in Punjab is 91%
This means that on average, people spend around 91% of their income for living.
According to the distribution table, 15% of the population spend approximately 60% to 70% of their income every month.
How can spending be more than income?
A value higher than 100% means that the expenditure of those people is higher than their income. They are spending more than what they earn. This is possible in two scenarios. They are either borrowing from their savings to survive or they are borrowing from other sources (relatives, friends, banks, etc.). More about this in the debt section.
Individual
82%
Spending-Income-Ratio
75%
90%
Couple
86%
Spending-Income-Ratio
79%
95%
Family
95%
Spending-Income-Ratio
88%
110%
How do people spend their money in Punjab?
We asked thousands of people about their spending habits and expenditure breaks. Below are their answers.
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 Expenditure23%
23% of total expenses on average (12% to 31%)
| LOW | $20 1,700 INR |
| AVERAGE | $260 21,000 INR |
| HIGH | $2,600 210,000 INR |
| Per Month |
People living in Punjab typically spend from 12% to 31% of their total monthly expenditure on housing with 23% being the average. The average spend on housing is 21,000 INR with expenditure ranging from 1,700 INR to 210,000 INR. This cost mainly goes for rent but it also includes other accommodation-related expenses. Housing costs are highest for families and lowest for students as expected.
Utilities, Electricity, Water, Internet, Mobile8%
8% of total expenses on average (5% to 12%)
| LOW | $3.3 280 INR |
| AVERAGE | $43 3,600 INR |
| HIGH | $430 36,000 INR |
| Per Month |
Utility expenditure like electricity, water, and gas in Punjab ranges from 5% to 12% of total expenses with 8% being the average. The average monthly cost of utilities is 3,600 INR with 280 INR and 36,000 INR being the upper and lower limits.
Transport, Fuel, Commute7%
7% of total expenses on average (3% to 11%)
| LOW | $6.6 550 INR |
| AVERAGE | $86 7,200 INR |
| HIGH | $860 72,000 INR |
| Per Month |
Fuel consumption and cost of transport depend heavily on whether you live near your work or school, but roughly speaking you would expect to spend from 550 INR to 72,000 INR on commuting with 7,200 INR being the norm for most people in one month. This means that money spent on transport constitutes about 7% of total spending on average but can go as low as 3% or as high as 11%.
Food and Groceries Cost28%
28% of total expenses on average (20% to 34%)
| LOW | $17 1,400 INR |
| AVERAGE | $220 18,000 INR |
| HIGH | $2,200 180,000 INR |
| Per Month |
The average outlay on groceries in a month in Punjab is 18,000 INR. The cost of groceries can range between 1,400 INR to 180,000 INR. People spend on average about 28% on food and groceries with upper and lower bounds of 20% and 34% respectively.
Healthcare and Medical Services10%
10% of total expenses on average (5% to 13%)
| LOW | $4.6 390 INR |
| AVERAGE | $60 5,000 INR |
| HIGH | $600 50,000 INR |
| Per Month |
People in Punjab allocate 5% to 13% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 10%. The range of medical expenses range from 390 INR to 50,000 INR with 5,000 INR being the norm.
Leisure and Shopping4%
4% of total expenses on average (2% to 8%)
| LOW | $2.7 220 INR |
| AVERAGE | $35 2,900 INR |
| HIGH | $350 29,000 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 220 INR to 29,000 INR with 2,900 INR being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 4% for most residents.
Education and Schooling5%
5% of total expenses on average (3% to 11%)
| LOW | $4 330 INR |
| AVERAGE | $52 4,300 INR |
| HIGH | $520 43,000 INR |
| Per Month |
Spending on education can vary drastically between different people. While working singles can spend 0% on education, families and students' expenditure can reach up to 22%. On average, education constitutes 5% of the monthly expenditure with 3% and 11% being the lower and upper bounds respectively. The average reported education cost is 4,300 INR per month with 330 INR being the minimum spent amount and 43,000 INR being the maximum.
Other Expenses14%
14% of total expenses on average (9% to 21%)
| LOW | $8.6 720 INR |
| AVERAGE | $110 9,300 INR |
| HIGH | $1,100 93,000 INR |
| Per Month |
How much money can you save in Punjab every month?
We asked thousands of people what percentage of their income can they save in a month. Below are the answers.
What percentage of people in Punjab manage to save money from their income every month?
Almost 60% of the surveyed people in Punjab said that they can save some money at the end of each month while 40% said that aren't saving anything.
Percentage of people saving money by population group in Punjab
| Group | Savers | Non Savers |
|---|
| Singles | 60% | 40% |
| Couples | 55% | 45% |
| Families | 50% | 50% |
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.
Saving to Income Ratio
Average Monthly Saved Amount
1,600 INR
$20 | 21,000 INR
$250 | 210,000 INR
$2,500 |
For most people, 11% to 32% of their monthly income is what they can allocate to their savings, with 19% being the average. The amount of money that people can save is approximately 21,000 INR on average with savings ranging from 1,600 INR to 210,000 INR.
60% of surveyed singles reported some of their income going to savings while 55% of couples said the same. 50% of families confirmed their ability to save money.
How much money do people actually save in Punjab?
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.
Singles
Saving to Income Ratio
Average Monthly Saved Amount
1,600 INR
$20 | 15,000 INR
$180 | 97,000 INR
$1,200 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 32% |
| 10% - 20% | 25% |
| 20% - 30% | 16% |
| 30% - 40% | 13% |
| 40% - 50% | 10% |
| > 50% | 4% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 14% to 34% of their monthly income to savings, with 23% being the average for most singles. The average amount of money that singles are able to save is 15,000 INR with 1,600 INR and 97,000 INR being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
8,100 INR
$98 | 24,000 INR
$290 | 130,000 INR
$1,600 |
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 who confirmed their ability to save reported saving equivalent to 12% to 33% of their monthly income, with 21% being the average for most couples. The average amount of money that couples can save is 24,000 INR with 8,100 INR and 130,000 INR being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
11,000 INR
$140 | 32,000 INR
$390 | 210,000 INR
$2,500 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 39% |
| 10% - 20% | 30% |
| 20% - 30% | 20% |
| 30% - 40% | 5% |
| 40% - 50% | 4% |
| > 50% | 2% |
Interpretation and Analysis
Families in Punjab can save anywhere between 11% to 30% of their monthly income, with 18% being the average for most families. The average amount of money that families can put aside is 32,000 INR with 11,000 INR and 210,000 INR being the minimum and maximum respectively.
Saving Challenges in Punjab
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Punjab. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 5% |
| High Expenses | 8% |
| Debt and Loans | 13% |
| Lack of Budgeting Skills | 12% |
| Impulsive Spending | 12% |
| Financial Emergencies | 7% |
| Living the moment | 5% |
| Will do it later | 21% |
| Inflation | 13% |
| Social Pressure | 3% |
| Market Instability | 2% |
Around 5% of the people 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% 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.
Typical saving choices for people in Punjab
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 12% |
| Gold | 13% |
| Savings Accounts | 17% |
| Retirement Accounts | 10% |
| Cash Savings | 21% |
| Real Estate | 9% |
| Investment | 5% |
| Stocks | 4% |
| Bonds | 5% |
| Mutual Funds | 2% |
| Certificates of Deposit | 3% |
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.
Affordable living in Punjab
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Punjab?
Around 52% of surveyed residents 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.
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 residents 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 people 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
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 residents of Punjab whether they have an emergency fund and the answers were as follows.
Yes52%
No48%
Based on the survey, 48% of the people living in Punjab said that they don't have an emergency fund while 52% said that they do.
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 residents of India 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 residents 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 of people 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 Fund | 8% |
| Debt Reduction | 43% |
| Retirement Savings | 10% |
| Education Funding | 7% |
| Homeownership | 18% |
| Investing | 6% |
| Travel or Lifestyle | 6% |
| Healthcare Expenses | 14% |
| Financial Independence | 5% |
Around 8% of those who participated in the survey 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.
Retirement, pension plans, and life after work in Punjab
What does the retirement lifestyle look like in Punjab and how much retirement savings are required?
Retirement age
The retirement age for most employees in India is 65 years. Specific retirement ages can vary based on factors like occupation, gender, years of contribution, and location. It is not entirely unlikely for people to retire either before or after this age.
Retirement planning and savings
There are many retirement saving options, some are personally initiated and others are government-sponsered. Regardless of the source of savings, the minimum amount of money that needs to be put aside to ensure a peaceful and comfortable retirement at each age can be found in the table below. This data is largely approximated and can vary drastically based on individual needs and situations. Treat these figures as a general guideline.
The typical saved amount of money you should have at every age as multiples of monthly salary:| Age | Amount |
|---|
| 25 | 5x monthly salary at age 25 |
| 30 | 10x monthly salary at age 30 |
| 35 | 15x monthly salary at age 35 |
| 40 | 25x monthly salary at age 40 |
| 45 | 32x monthly salary at age 45 |
| 50 | 48x monthly salary at age 50 |
| 55 | 56x monthly salary at age 55 |
| 60 | 64x monthly salary at age 60 |
| 65 | 78x monthly salary at age 65 |
The typical average saved amount of money you should have at every age in Punjab:| Age | Amount |
|---|
| 25 | 190,000 INR |
| 30 | 370,000 INR |
| 35 | 650,000 INR |
| 40 | 930,000 INR |
| 45 | 1.4M INR |
| 50 | 1.9M INR |
| 55 | 2.3M INR |
| 60 | 2.9M INR |
| 65 | 3.4M INR |
Retirement Income Distribution
We asked residents of Punjab about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 12% |
| Savings | 23% |
| Investments | 12% |
| Social Security | 7% |
| Annuities | 7% |
| Part-time Job | 15% |
| Real Estate | 18% |
| Dividends and Interest | 7% |
Retirement Monthly Expenses in Punjab 4,100 INR
$49 | 37,000 INR
$440 | 240,000 INR
$3,000 |
Debt, loans, and mortgages in Punjab
Percentage of people who are in debt
According to the survey, 29% of the people 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.
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 the people's monthly income in Punjab goes to debt settlement.
Debt levelsMonthly 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 Mortgage | 8% |
| Auto Loan | 15% |
| Student Loan | 4% |
| Credit Card | 30% |
| Personal Loan | 43% |
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 managementManaging 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 residents 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 |
|---|
| Never | 50% |
| Once a year | 24% |
| Twice a year | 13% |
| Three times a year | 9% |
| Four times a year | 4% |
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 |
1-bedroom apartment monthly rent cost
| 8,900 INR | 14,000 INR | 36,000 INR |
2-bedroom apartment monthly rent cost
| 12,000 INR | 18,000 INR | 47,000 INR |
3-bedroom apartment monthly rent cost
| 14,000 INR | 24,000 INR | 65,000 INR |
Furnished apartment monthly rent cost
| 28,000 INR | 71,000 INR | 140,000 INR |
Townhouse monthly rent cost
| 24,000 INR | 36,000 INR | 100,000 INR |
House monthly rent cost
| 28,000 INR | 71,000 INR | 140,000 INR |
Villa monthly rent cost
| 36,000 INR | 89,000 INR | 140,000 INR |
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 |
1-bedroom apartment price
| 1.4M INR | 2.4M INR | 8.9M INR |
2-bedroom apartment price
| 2.4M INR | 7.1M INR | 14M INR |
3-bedroom apartment price
| $95,000 | $140,000 | $430,000 |
Townhouse price
House price
Villa price
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 |
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
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.
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 |
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 / Individual
| 420 INR | 3,000 INR | 20,000 INR |
Utility Bill Cost / Electricity + Water + Gas / Couple
| 1,100 INR | 3,700 INR | 24,000 INR |
Utility Bill Cost / Electricity + Water + Gas / Family
| 1,900 INR | 5,500 INR | 36,000 INR |
Internet and cable cost
Mobile phone bill and charges
| 280 INR | 470 INR | 1,400 INR |
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 expenditure for individuals on electricty, water, and gas in Punjab ranges between 420 INR and 20,000 INR with average being 3,000 INR, meanwhile the expenditure of couples is slightly higher at 3,700 INR with 1,100 INR and 24,000 INR being the upper and lower limits respectively. As expected, the energy and water consumption of families is the highest among the three groups with an average of 5,500 INR. The cost of internet and WiFi is unchanged among the three groups and 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
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
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
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 |
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..
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
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
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
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
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
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
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
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
The average grocery-to-income ratio in Punjab is around 29%. This means that people 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 every population group
A single person living alone spends approximately 7,900 INR per month on grocery and food with expenditure fluctuating between 1,100 INR and 53,000 INR depending on location and the type of person. The average cost of food and groceries for a couple is around 12,000 INR per month. That number can be get as low as 3,900 INR or a high as 62,000 INR. Families' spending on grocery ranges from 6,900 INR to 130,000 INR with the location, income, and size of the family being the most determinite factors.
SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in Punjab
Housing cost for a single person29%
29% of total expenses on average (17% to 41%)
| LOW | $30 2,500 INR |
| AVERAGE | $210 18,000 INR |
| HIGH | $1,400 120,000 INR |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile9%
9% of total expenses on average (5% to 14%)
| LOW | $5 420 INR |
| AVERAGE | $36 3,000 INR |
| HIGH | $240 20,000 INR |
| Per Month |
Transport and Fuel Cost5%
5% of total expenses on average (3% to 11%)
| LOW | $6.7 550 INR |
| AVERAGE | $48 4,000 INR |
| HIGH | $320 26,000 INR |
| Per Month |
Food and Groceries Cost19%
19% of total expenses on average (13% to 24%)
| LOW | $13 1,100 INR |
| AVERAGE | $96 7,900 INR |
| HIGH | $640 53,000 INR |
| Per Month |
Healthcare Cost12%
12% of total expenses on average (6% to 16%)
| LOW | $7.5 620 INR |
| AVERAGE | $54 4,500 INR |
| HIGH | $360 30,000 INR |
| Per Month |
Leisure and Shopping Expenditure2%
2% of total expenses on average (2% to 5%)
| LOW | $4.2 350 INR |
| AVERAGE | $30 2,500 INR |
| HIGH | $200 17,000 INR |
| Per Month |
Education Cost1%
1% of total expenses on average (0.00% to 3%)
| LOW | $1.7 140 INR |
| AVERAGE | $12 990 INR |
| HIGH | $80 6,600 INR |
| Per Month |
Other Expenses22%
22% of total expenses on average (14% to 26%)
| LOW | $15 1,200 INR |
| AVERAGE | $110 8,900 INR |
| HIGH | $720 59,000 INR |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in Punjab
Housing cost for a couple26%
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 |
Utilities, Electricity, Water, Internet, Mobile8%
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 |
Transport and Fuel Cost9%
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 |
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 |
Healthcare Cost14%
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 |
Leisure and Shopping Cost3%
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 |
Education Cost1%
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 |
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 |
FamilyAverage monthly expenses and break out of spending for families living in Punjab
Housing cost for a family25%
25% of total expenses on average (20% to 35%)
| LOW | $150 12,000 INR |
| AVERAGE | $420 35,000 INR |
| HIGH | $2,800 230,000 INR |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile6%
6% of total expenses on average (4% to 9%)
| LOW | $23 1,900 INR |
| AVERAGE | $66 5,500 INR |
| HIGH | $430 36,000 INR |
| Per Month |
Transport and Fuel Expenses5%
5% of total expenses on average (3% to 7%)
| LOW | $46 3,900 INR |
| AVERAGE | $130 11,000 INR |
| HIGH | $860 72,000 INR |
| Per Month |
Food and Groceries Cost21%
21% of total expenses on average (14% to 27%)
| LOW | $84 6,900 INR |
| AVERAGE | $240 20,000 INR |
| HIGH | $1,600 130,000 INR |
| Per Month |
Healthcare Expenses11%
11% of total expenses on average (7% to 16%)
| LOW | $42 3,500 INR |
| AVERAGE | $130 11,000 INR |
| HIGH | $690 57,000 INR |
| Per Month |
Leisure and Shopping Cost2%
2% of total expenses on average (1% to 6%)
| LOW | $23 1,900 INR |
| AVERAGE | $66 5,500 INR |
| HIGH | $430 36,000 INR |
| Per Month |
Education Cost13%
13% of total expenses on average (6% to 21%)
| LOW | $65 5,400 INR |
| AVERAGE | $190 15,000 INR |
| HIGH | $1,200 100,000 INR |
| Per Month |
Other Expenses16%
16% of total expenses on average (9% to 21%)
| LOW | $37 3,100 INR |
| AVERAGE | $110 8,800 INR |
| HIGH | $690 57,000 INR |
| Per Month |
StudentCost of living and expenses break down for students living in Punjab
Housing costs for Student17%
17% of total expenses on average (12% to 23%)
| LOW | $16 1,300 INR |
| AVERAGE | $110 8,800 INR |
| HIGH | $710 59,000 INR |
| Per Month |
Utilities, Electricity, Water, Internet, and Mobile Expenses7%
7% of total expenses on average (5% to 11%)
| LOW | $2.7 220 INR |
| AVERAGE | $18 1,500 INR |
| HIGH | $120 9,800 INR |
| Per Month |
Transport and Fuel Cost4%
4% of total expenses on average (4% to 10%)
| LOW | $4.6 390 INR |
| AVERAGE | $31 2,600 INR |
| HIGH | $210 17,000 INR |
| Per Month |
Food and Groceries Expenditure23%
23% of total expenses on average (17% to 27%)
| LOW | $13 1,100 INR |
| AVERAGE | $89 7,300 INR |
| HIGH | $590 49,000 INR |
| Per Month |
Healthcare Cost9%
9% of total expenses on average (6% to 12%)
| LOW | $4 330 INR |
| AVERAGE | $27 2,200 INR |
| HIGH | $180 15,000 INR |
| Per Month |
Leisure and Shopping Cost2%
2% of total expenses on average (2% to 6%)
| LOW | $3.3 280 INR |
| AVERAGE | $22 1,800 INR |
| HIGH | $150 12,000 INR |
| Per Month |
Education Cost18%
18% of total expenses on average (11% to 23%)
| LOW | $13 1,000 INR |
| AVERAGE | $84 7,000 INR |
| HIGH | $560 46,000 INR |
| Per Month |
Other Expenses19%
19% of total expenses on average (13% to 25%)
| LOW | $10 830 INR |
| AVERAGE | $66 5,500 INR |
| HIGH | $440 37,000 INR |
| Per Month |
