Hyderabad: Hyderabad has left Delhi NCR behind as India's second-costliest city, according to Knight Frank India’s proprietary Affordability Index. This index is calculated based on the ratio of income to home loan monthly installment (EMI). The report reveals that house prices in Hyderabad increased by 11% in 2023.
Mumbai continues to be India's most unaffordable city. The study says buyers in Mumbai have to pay up to 51% of their income for EMI. Buyers in Hyderabad and Delhi pay 30 per cent and 27 per cent respectively. The rate of investment in housing in Bengaluru is 26%, 25% in Chennai, 24% in Pune, 24% in Kolkata, and 21% in Ahmedabad.
Shishir Baijal, MD, Chairman, Knightfrank India, said that with the growth rate set to pick up in 2024-25, there are indications of inflation being under control, and the purchasing power of households increasing.
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