I went to an Apple Authorized Service Provider, and he compared my phone with other iPhone 11 Pro unit, and both of the units made the same sound from earpiece speaker, and also while playing sencha ringtone, but the buzz during sencha is less noticeable unless you have a sensitive ear. Phone calls on speaker, Sencha ringtone, etc sounded same on my phone and the other iphone 11 pro. The Technician also did a full diagnosis test of my iPhone, and all the tests passed (including the speakers/audio). He told me that if I am still not satisfied, I can get it sent to a repair center but still the results will be the same or either the repair center would decline the repair saying that it's not a defect.
The reason which the Apple authorized technician told me behind this buzzing was that the iPhone 11 pro :-
1> Is smaller than iPhone 11, hence sound gets less playroom on iPhone 11 Pro.
2> iPhone 11 Pro is made of stainless steel and 11 is made of aluminium, hence they both sound a bit different, with the aluminium one sounding better.
3> iPhone 11 Pro has 1 extra camera module installed w.r.t the iPhone 11, hence more lack of space and therefore, less playroom for sound.
Still, I compared my phone also with other iphone 11 pro in a different Apple Authorized Store, and the results were same.
Atleast, this tells me that next time if I am going to buy an Apple device, it will be a larger variant considering the huge number of features/modules installed within so small space.