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Ahmedabad is the most affordable housing market amongst the top eight cities in India.
Residential properties became less affordable in all eight major cities during the first six months of 2023, according to Knight Frank India’s 'Affordability Index' that tracks the equated monthly instalment or EMI-to-income ratio for an average household.
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The most affordable city in India to live in is Ahmedabad where an average household needs to pay 23% of its income for home loan EMIs.
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In Maharashtra's Pune and West Bengal's Kolkata, an average household has to pay 26% of their income on home loan EMIs.
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These cities in southern India are next in the list with an EMI-to-income ratio of 28%.
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In Delhi-NCR, the EMI-to-income ratio is 30%.
Hyderabad is the 2nd most expensive city with an EMI-to-income ratio of 31%.
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The most expensive housing market in the country is Mumbai. EMI-to-income ratio for an average household in Mumbai is 55%.
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