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Ahmedabad, Pune, Chennai, India’s Most Affordable Housing Markets of 2020: Knight Frank Survey | Ahmedabad is the country’s cheapest on the housing market; Demand for home loans stands at Rs 5,283 crore in second quarter

Gujarati NewsBusinessAhmedabad, Pune, Chennai India’s Most Affordable Housing Markets of 2020: Knight Frank Survey

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Ahmedabad 12 days ago

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Ahmedabad is the cheapest city in the country on the housing market. This was revealed in a report from Knight Frank Property Consultancy. According to the report, Mumbai is the most expensive city in the country. The agency wrote this report taking into account the value of the property, the interest on the mortgage and the buyer’s income. Ahmedabad’s percentage in affordable housing was 46% in 2010 which rose to 24% in 2020 which means that in Ahmedabad if my income is Rs 100, Rs 24 goes to EMI while if my income is Rs 100 in Mumbai, it goes to Rs 61 EMI. After Ahmedabad, Chennai and Pune are cheaper.

How much is Rs.100 in city 2010 How much is Rs.100 in EMI2020 How much is EMI Mumbai 93.00% 61% NCR53% 38% Bengaluru 48% 28% Pune 39% 26% Chennai 51% 26% Hyderabad 47% 31% Kolkata 45% 30% Ahmedabad 46% 24%

According to Shishar Baijal, President and CEO of Knight Frank Property India, the ratio of affordable housing in the country’s top eight cities has improved significantly. The main reasons for this are increased income, low interest rates, reduced real estate prices, reduced stamp duty.

Home loan disbursements increased 46% to Rs 5,283 crore in the September quarter
There are clear indications that demand is increasing again in the housing sector in Gujarat. The level of renewed home loans across Gujarat rose 46% to Rs 5,283 crore in the quarter ended September 2020, from Rs 3,620 crore in the same period last year, according to data released by State Level Bankers Committee (SLBC). . However, the April-June quarter saw significant growth of 130 percent from the Rs 2,298 crore loan disbursed.

Demand in the housing sector increased significantly during the July-September quarter. Those who invested in the real estate sector during the Corona outbreak were not significantly affected. As a result, home loans are reallocated during the quarter. Key figures from the housing sector also confirmed that home sales rose significantly in the September quarter.

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