Home affordability in major Indian cities improved in 2021: JLL report

28 Sep 2021 CW Team

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 Source

Also read: Noida Authority slashes transfer charges of residential properties

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

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Infrastructure Energy

06 Apr 2026

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

Real Estate

06 Apr 2026

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..