Ahmedabad is the most affordable city in India according to the Affordability Index released by real estate consultancy Knight Frank on Wednesday. The findings were based on a ratio of the equated monthly instalments and the income for an average household.
In the first six months of 2023, the ratio of Ahmedabad was the lowest among the top eight cities in India at 23 per cent. It was followed by Pune and Kolkata with a ratio of 26 per cent. It shows the proportion of their income that goes towards making EMI payments.
According to Knight Frank, this has impacted affordability by an average of 2.5 per cent across cities and increased the EMI load by 14.4 per cent since then. However, demand has remained unimpaired and has sustained at the multi-year highs seen in the first half of 2023.