Should I propose to my boyfriend? If yes, then can you please suggest some proposal ideas?

Hi!

My boyfriend and I (both 27) have been together for 3 years. We have decided to get married and have discussed everything there is to discuss about marriage. Our respective parents have met us and know that we intend to get married. The only step that remains is the meeting of parents. We don't see any issue cropping up as such.

I wanted to ask - should I plan a proposal for him? I think he might be planning something for me. Should I do it before or after he proposes? Do you guys have any ideas for this?

My ideal proposal would be decorating a place (I guess a public place, because we both live with our parents) with balloons and lights and having a private moment there. Just the two of us.

I live in Mumbai. Budget would be around 15-20k.

Thanks in advance!

Edit: Also, I don't think I'll be giving him a ring. I don't know his size. I feel like buying such an expensive thing without his input is not worth it. Is a ring-less proposal okay?