Ahmedabad is the cheapest market to buy houses in the country mumbai is the most expensive report

Knight Freak India has recently released a report on the property. The company has announced the Affordability Index 2020. According to the report, Ahmedabad in Gujarat has been declared the cheapest house in the country to buy. Apart from this, Mumbai is at the forefront of the most expensive city.
  • Knight Freak India released the report
  • Ahmedabad affordable city to buy a house in the country
  • Mumbai proved to be the most expensive city

According to the report, Ahmedabad is the cheapest market in the country for buying a house. In terms of home prices, it was 24 per cent cheaper in 2020 compared to 46 per cent in 2010, a decade ago. In Pune, Chennai is second and third with 26 per cent cheaper. Knight & Frank India said it was difficult to borrow from banks and residential finance companies as the comparison was more than 50 per cent.

The last decade has been credited with getting houses cheaper
The monthly installment is taken into account based on the rate of income based on the affordable index. According to the report, the fall in house prices, as well as decades of low interest rates on housing loans, has made it cheaper to buy a house in 2020. Knight & Frank said that compared to Mumbai, it is the most expensive market with 61 per cent, while Ahmedabad, Chennai and Pune are cheaper. Compared to last decade, houses in Mumbai are also getting cheaper today. The figure was 61 percent in 2020 and 93 percent in 2010.

Wealth rates are determined on the basis of these factors
The index is based on the value of the property, the interest rate on the housing loan, and the family income. In the national capital, the rate improved to 38 per cent from 53 per cent in 2010. In Bengaluru, it was 28 per cent in 2020 as against 48 per cent in 2010, a decade ago. According to the report, rates have improved to 26 per cent in Pune and Chennai. Which was 39 percent in 2010. In Hyderabad, the rate is 31 per cent as against 47 per cent earlier. In Kolkata, the rate has been 30 per cent in 2020 as against 45 per cent a decade ago.

On the basis of Knight & Freak India, 8 major cities of the country are witnessing significant improvement in cheap rates as compared to last decade. This is due to the improvement in income, lower interest rates and the fall in property prices based on it.

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