New Delhi, The increase in interest rates on home loans have affected the affordability of residential properties across all eight major cities during the
In January 2023 bulletin, RBI said, lending and deposit rates of SCBs have continued to move higher since May 2022 in response to the 225 bps increase in the policy repo rate.
Ahmedabad, Pune, Chennai most affordable housing markets of 2020: Knight Frank Survey
December 30, 2020
×
Ahmedabad is the most affordable housing market in the country with an affordability ratio of 24 per cent followed by Pune and Chennai at 26 per cent each in 2020.
While Mumbai is the most expensive market, with affordability ratio of (61 per cent), other cities like Ahmedabad, Chennai and Pune are relatively more affordable.
Even for Mumbai, the affordability ratio has improved from a high of 93 per cent in 2010 to 61 per cent in 2020.
According to Knight Frank’s proprietary Affordability Index 2020, which tracks the EMI (Equated Monthly Installment) to income ratio for an average household, has shown improvement in affordability over the last decade.