Hyderabadis paid 30% of their income to afford a home in 2023: Report

Hyderabad emerged as the most expensive residential market in India after Mumbai with a 30% Affordability Matrix in 2023 (meaning an average household in Hyderabad needs to spend 30% of their household income to pay EMI for housing boards), despite an 11% climb in housing prices, reveals Knight Frank’s affordability Index 2023.

Mumbai remains the most expensive residential market in India with a 51% ratio, a measure that typically surpasses banks’ mortgage underwriting benchmarks.

Ahmedabad is the most affordable housing market in India with an affordability ratio of 21%, followed by Kolkata and Pune at 24%.

Bengaluru and Chennai are 26% and 25%, respectively. Both cities show a downtrend in the affordability scale, marking a slight financial easing for homebuyers.

Delhi NCR and its satellite cities also present a marginally more affordable housing market than Hyderabad, at 27%.