According to property consultant JLL India, housing affordability has improved in major cities this year, owing to a rise in household incomes from a low base in 2020, lower mortgage rates, and stable housing prices. The consultant released its annual Home Purchase Affordability Index ( HPAI 2021) on Monday, which determines whether a household with an average annual income at a city level is qualified for a housing loan on a property in the city at the current market price. The index shows that between the years 2013 and 2021, key affordability in Indian cities such as Delhi-NCR, Mumbai, Kolkata, Chennai, Pune, Hyderabad, and Bengaluru increased consistently. At the same time, the consultant informed that, except for Hyderabad, home prices have remained stable in all of India's major residential markets. India's most expensive property market Mumbai has seen a significant rise in the home affordability index, surpassing the affordability threshold of 100 this year, according to JLL HPAI 2021. In terms of home purchase affordability, Kolkata is the best market. Hyderabad is expected to surpass the 200-mark on the affordability index this year, closely followed by Pune. According to the index, an average income household in the markets of Kolkata and Hyderabad has enough income to qualify for a home loan on two 1,000 sq ft apartments and one apartment of 2,000 sq ft at the current market price. HPAI is the ratio of average household income by eligible household income. The minimum household income required to qualify for a home loan on a 1,000 sq ft apartment at the current market price is defined as eligible household income According to a JLL report. A score of 100 indicates that a family's income is exactly enough to qualify for the loan. A score of less than 100 indicates that the average household does not earn enough to qualify for a mortgage. A score of over 100 indicates that the average family has more than enough income to qualify for a home loan. According to a JLL report, Kolkata's HPAI is expected to increase to 218 this year from 201 in 2020. The affordability index in Hyderabad is expected to rise to 203 from 193, while the index in Pune is expected to rise to 198 from 186. Chennai's index is expected to rise to 185 from 174 while Bengaluru's HPAI is expected to rise to 191 from 176. The Delhi-NCR index is expected to rise to 143 from 132. Mumbai's index is expected to rise to 100 this year from 94 in 2020. Image SourceAlso read: Noida Authority slashes transfer charges of residential properties