Housing is cheaper in 4 years, says RBI survey

New Delhi: Research Reserve Bank of India (RBI) says housing care has become less favorable due to a slowdown in sales over the past four years.
The report states that Mumbai is still the cheapest city. The cheapest properties are available in Bhubaneswar. It was discovered after a survey conducted in 13 cities across India.
The study measures availability by comparing the price with the monthly income of average home loan users.
In the media reports, the real estate consulting company, Liases Foras, put a non-resident housing fund in 30 cities at 12.76 lakhs at the end of the financial year in 2019, up 8 percent from 11.9 lakhs in the financial year 2018 .
It is worth mentioning that house buyers in Mumbai now pay 43.3 percent of their income as the EMI (a balanced monthly installment) compared to 42.6 percent of their revenues in March 2015. Chennai has risen to 38.4 percent from 36.7 percent . , while in Delhi, borrowers who paid 35.1 percent of their salaries now have to allocate 36.9 percent.

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