The win fetched Singhs' a prize money of Rs 1.80 crore besides a glittering trophy.
The final played in front of a packed International Hockey Stadium here, saw a tense and nail-biting finish.
Singhs, who had only 12 wins in the first phase as compared Khalsa's 17, trailed for three quarters of the match before turning the tables.
The scores were level at 53-53 before Singhs inched ahead and kept their nose in front.
In the third place play-off earlier, California Eagles beat Vancouver Lions 66-57.
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Sukhbir Singh Badal, the Deputy Chief Minister of Punjab and also the Chairman of WKL, was present for the final.
Co-owner of Singhs, actress Sonakshi Sinha, said she was thrilled at the success of her team.
"I am sure they will go all out to successfully defend the title next year," she said.