 "real estate")
With an affordability ratio of 22 per cent, Ahmedabad was the most-affordable Indian housing market in 2022, a report released on Monday said. It was followed by Kolkata and Pune with an affordability ratio of 25 per cent each.
The affordability ratio is defined as the ratio of Equated Monthly Installment (EMI) to the total income of an average household. The lower the ratio, the more affordable a house is.
According to Knight Frank Research's "Affordability Index 2022", despite showing the maximum improvement since 2011, Mumbai was the least affordable city with a ratio of 53 per cent. In 2011,
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