As per the JLL Home Purchase Affordability Index (JLL HPAI), Kolkata has been identified as the most affordable market in 2020 for purchasing a home, among the top seven major cities in India. The city has surpassed the previous year’s most affordable market, Hyderabad.

Kolkata has been named the most affordable housing market after dethroning last year’s winner, Hyderabad, in the JLL Home Purchase Affordability Index (HPAI) for the year 2020. Despite a decline in the average national household income due to the pandemic, affordability has improved across real estate markets of the top seven major Indian cities.

The HPAI is the ratio of the average household income to eligible household income to avail a home loan; a HPAI value of 100 or above is considered ideal. Kolkata scored the highest with 203, Hyderabad came a close second with 195, while Pune at 188, Chennai at 178, Bangalore at 175, Delhi NCR at 136 and Mumbai at 95 followed.

Even though Mumbai was the only city not to make the threshold of 100, the report suggests that the city is fast moving towards affordability, improving its score from 47 in 2011 to 95 this year.