Most Affordable Houses in India: Where to Find the Cheapest Homes, Check Prices

Most Affordable Houses in India: Every person dreams of buying their own home, but it often takes a lot of time to fulfill this dream. In today’s rising inflation, building a house or buying one has become very expensive. If you take a loan to buy a house, you end up spending your entire life repaying it. In such a situation, people want to know where the cheapest homes are available in India.

Most Affordable Houses in India

There are many cities in India where you can buy a house at a very low price. Along with this, you also get the option to buy a house through easy installments. Some cities offer homes with minimal down payment, allowing you to take a loan. If you are also looking for affordable houses, we will provide you with the information here.

Where Can You Find the Cheapest Homes?

When we talk about India, buying a house in most cities is very expensive. If you want to buy a house in cities like Delhi, Mumbai, Bengaluru, or Jaipur, you have to pay a very high price. But when it comes to the cheapest homes, Ahmedabad currently offers the most affordable houses in India. Recently, Knight Frank India released an affordability report that provides this information.

Here, the monthly installment for the loans taken by people to buy homes is only 18% of their income, while in Pune it is 22% and in Kolkata it is 23%. Recently, the Reserve Bank of India reduced the repo rate, which has led to an even greater decrease in house prices.

Which Cities Have Expensive Homes?

Along with cheap homes, let’s talk about expensive ones. Mumbai is a place where homes are extremely costly. Here, a family has to spend more than 48% of its total income to pay the home installment, which is more than double compared to other cities. If we talk about cities like Delhi and Bengaluru, an average of about 30% of your salary goes toward paying the home installment.