Home loans have become costlier in the current financial year due to changes in the repo rate by the Reserve Bank of India (RBI). On the other hand, due to the increase in the prices of properties in the market after Kovid, the ability of people to buy houses has been affected. There are only a few cities where it is still easy for the common man to buy a house.
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Buying a house in India is the dream of every common man. But this year this dream seems to be going away from his reach. Reason, Reserve Bank of India (Reserve Bank of India) constant repo rates of (Repo Rate) Home loans from banks costlier due to changes in (Home Loan) have to be Along with this, after the boom of the market, the properties have also become expensive, due to which ‘own house’ (Common Men Own House) out of reach of the people. If you look at the statistics of 7 major cities of the country, now it is easy to buy a house in only a few cities.
In which city is the house the cheapest?
Property consultant JLL India on Monday Home Purchase Affordability Index Presented. This index examines whether the income (median annual income) of a typical household at the city-wide level is sufficient to buy a residential property at the current market price. That is, is it economical to buy a house for him or not.
Kolkata has got 193 points in this index. According to the estimated price, buying a house here is the most economical among the 7 important cities of the country. After this, Pune is second with 183 points, Hyderabad (174 points) third, Bengaluru (168 points) fourth, Chennai (162 points) fifth, Delhi (125 points) sixth and Mumbai last with 92 points.
Kolkata was on top last year
According to the news of PTI, except Mumbai, the affordability index has been in a satisfactory condition in other cities. Kolkata, Pune and Hyderabad are expected to continue to be the cheapest housing markets in the country.
Kolkata was on top in this index last year as well. Then it got 212 points, Hyderabad 196 points, Pune 195 points, Bengaluru 185 points, Chennai 181 points, Delhi-NCR 140 points and Mumbai 100 points.
Inflation reduced people’s ability to buy houses
JLL India said that in 2022, the ability of people to buy houses has decreased slightly, because of the increase in construction cost due to inflation, this affected the purchase. At the same time, due to the increase in the repo rate by the Reserve Bank, housing loans have become costlier. JLL said there was a steady increase in home affordability across all Indian cities between 2013 and 2021. It has been a better time to buy a house.
English Headline: Kolkata is most affordable market for home buyers amid home loan interest rise report.
Source: www.tv9hindi.com”