Ahmedabad is the cheapest housing market to live in India, know which is the most expensive city

Most Affordable Housing Market: Ahmedabad is the cheapest or affordable housing market among the eight major cities of the country on the basis of monthly installment payable to total income, while Mumbai is the most expensive city. Information about this has been received in the Affordable Housing Index Report-2021 released by Knight Frank on Wednesday. The Indian market is at the best of the decade in terms of affordable housing. The economy associated with houses has increased in the year 2021 due to the fall in the prices of houses and the lower interest rate on home loans.

Index shows installment
This index shows that how much amount has to be paid as monthly installment in proportion to the income of a family living in a city. This ratio being 40 percent means that a family in that city has to pay 40 percent of its income as monthly installment.

Delhi’s installment ratio improved
In the determination of this index, if the income and installment ratio is more than 50 percent, that city is not considered economical to live in. The Knight Frank report says that the housing affordability ratio has improved the most in the Delhi-NCR region. In the year 2020 it was 38 per cent, but this year it has come down to 28 per cent.

Ahmedabad is the cheapest
Ahmedabad has emerged as the cheapest housing market in this list. There, a family has to pay only 20 percent of its monthly income in the form of house installment or home loan. Pune ranks second in the list with a ratio of 24 per cent.

Mumbai is the most expensive
At the same time, due to the income and monthly installment ratio being 53 percent in Mumbai, it becomes the most expensive housing market. The ratio is 29 per cent in Hyderabad, 26 per cent in Bangalore and 25-25 per cent in Chennai and Kolkata.

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