Ahmedabad, Pune, and Kolkata are the most affordable housing markets in India, with the ratio of EMI to income for an average household at 23%, 26%, and 26%, respectively, according to Knight Frank India's Affordability Index. Housing affordability levels have decreased across the country due to higher home loan rates, except in Mumbai. The central bank has raised the Repo rate by 250 basis points since May 2022 to address rising inflation, affecting affordability by an average of 2.5% across cities and increasing the EMI load by 14.4% since then.