"Affordable rates are higher if sizes are smaller. If buyers can compromise on size, they can afford higher priced apartments," Samantak Das, national head, research, Knight Frank.The study on affordable housing, done by property consultants Knight Frank, says the Rs 8-10 lakh income category in Chennai can afford houses up to Rs 45 lakh, while the same group can afford houses up to only Rs 38 lakh in Mumbai and Rs 37 lakh in Bangalore. The same category in Hyderabad, Kolkata and Pune could afford between Rs 40 lakh and 43 lakh.
In terms of apartment sizes, the Chennai households can afford up to 1,200 square feet, while those of Pune and Mumbai can only afford 800 sq ft and 950 sq ft, respectively.
In terms of affordable rates per sq ft, Pune can afford up to Rs 5,900 a sq ft and Bangalore only Rs 3,600 a sq ft, the study said.
To read more, please, visit - Want to buy a home? Shift to a less costly city
Due to drastic slowdown in property markets across the world, Knight Frank puts off plan for India-focused property fund
Do you agree with Knight Frank Study ?1) Rs 8-10 lakh income category in Pune could afford houses between Rs 40 lakh and 43 lakh.
2) Rs 8-10 lakh income category in Pune could afford 950 sq.ft. houses
3) Pune can afford property rates up to Rs 5,900 sq.ft.
4) Not all of the so-called affordable housing projects are really affordable
4) It is premature for developer to raise prices now.
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