India's Most Affordable Cities for Residential Investment in 2024
Chennai, Ahmedabad, and Kolkata top the list of most affordable cities for residential investment in 2024, while Mumbai and Delhi are the least affordable, according to Magicbricks' latest report.
Residential InvestmentAffordable CitiesMagicbricksHousing AffordabilityIndian CitiesReal Estate MumbaiSep 06, 2024
The report reveals that the property price to annual household income ratio (P/I Ratio) in India has increased from 6.6 in 2020 to 7.5 in 2024. Based on the P/I Ratio, Magicbricks said that Chennai (5), Ahmedabad (5), and Kolkata (5) are among the most affordable cities for residential investments in 2024, while the Mumbai Metropolitan Region (14.3) and Delhi (10.1) emerged as the least affordable.
Magicbricks CEO Sudhir Pai said, \
Frequently Asked Questions
What is the P/I Ratio, and how has it changed in India since 2020?
The P/I Ratio, or property price to annual household income ratio, has increased from 6.6 in 2020 to 7.5 in 2024, indicating a decrease in affordability.
Which cities are the most affordable for residential investment in 2024, according to Magicbricks?
Chennai, Ahmedabad, and Kolkata are among the most affordable cities for residential investments in 2024.
What is the EMI-to-monthly income ratio in India, and how has it changed since 2020?
The EMI-to-monthly income ratio in India has risen from 46 per cent in 2020 to 61 per cent in 2024, indicating a growing burden of EMIs on home buyers.
Which cities have the highest EMI-to-monthly income ratio, according to the report?
MMR (116 per cent), New Delhi (82 per cent), Gurugram (61 per cent) and Hyderabad (61 per cent) have the highest EMI-to-monthly income ratio.
What is Magicbricks, and what is the purpose of its report on housing affordability?
Magicbricks is a proptech firm that provides insights and analysis on the real estate market. Its report on housing affordability aims to provide a comprehensive understanding of the current state of housing affordability in major Indian cities.
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