Knocksense Shorts | Mumbai ranks as the most expensive Indian city, under latest affordability index
The latest Knight Frank Affordability Index has mentioned a list of the costliest cities to reside in India. Notably, Mumbai has been placed on the topmost position on this index by Knight Frank India, a prominent property consultancy firm.
The Knight Frank Affordability Index tracks the affordability of living in a city, by calculating the monthly mortgage payments for a typical home loan, against the total income of an average household in the city.
In the rankings, Hyderabad secures the 2nd position, closely followed by the Delhi National Capital Region (NCR). Bengaluru and Chennai jointly hold the 4th rank, succeeded by Pune and Kolkata. Conclusively, Ahmedabad in Gujarat, is identified as the most economically-accessible Tier 1 city in India.