Seattle Indian Community - SeattleIndian.com
| | | | | | | | | | | |
 


 

Housing affordability worsened in past 4 years: RBI survey


Maharashtra,Business/Economy


Author : Indo Asian News Service

Business/Economy, India, Maharashtra Read Latest News and Articles

Share With Your Friends

Add To My Favorite     Add A Picture

Add an Article

View All Contributions

Mumbai, July 11 (IANS) Although there has been emphasis and hype over affordable housing since the past few years, an RBI survey released on Thursday shows that affordability in the country's housing sector has deteriorated in the last four years.

"Housing affordability worsened over the past 4 years as the house price to income (HPTI) ratio increased from 56.1 in March 2015 to 61.5 in March 2019," said the Residential Asset Price Monitoring Survey.

Mumbai remains the least affordable city in India, while Bhubaneswar remains the most affordable, it said.

The report also said that the movement of median loan to income (LTI) ratio also confirms worsening housing affordability as it moved from 3.0 in March 2015 to 3.4 in March 2019.

The median EMI-to-Income (ETI) ratio, however, remained relatively steady during the past 2 years, with exceptions of Mumbai, Pune and Ahmedabad which recorded higher median ETI compared to other cities.

The central bank's survey further observed that the median loan-to-value (LTV) ratio moved from 67.7 per cent to 69.6 per cent between March 2015 and March 2019 showing that banks have become increasingly risk tolerant. LTV is a measure of credit risk on housing loans.

The survey was conducted in Mumbai, Chennai, Delhi, Bengaluru, Hyderabad, Kolkata, Pune, Jaipur, Chandigarh, Ahmedabad, Lucknow, Bhopal and Bhubaneswar.

--IANS

rrb/vd

Premium Advertiser
Grocery Stores - Apna Bazar



This is an advertisement

   Groupon Deals 
 More...
25% Cash Back at Dickey's Barbecue Pit
25% Cash Back at Dickey's Barbecue Pit - ,
Extreme Fit Men’s Compression & Body-Support Shirts
Extreme Fit Men’s Compression & Body-Support Shirts - ,
First Month of ED Medicine or the Complete Hair Kit from Hims
First Month of ED Medicine or the Complete Hair Kit from Hims - ,
Over-the-Door Pantry and Bathroom Organizer with 6 Shelves
Over-the-Door Pantry and Bathroom Organizer with 6 Shelves - ,
XTF Women's Knee-Length Patterned Compression Socks (3 or 6 Pairs)
XTF Women's Knee-Length Patterned Compression Socks (3 or 6 Pairs) - ,


Latest Showbiz News

View More News


More News Articles

Iulia has 'shaky' experience in Bali earthquake

Akshay to donate Rs 2cr for Assam floods

Hrithik, Tiger shoot 'risky' stunts on Finland ice

Humour helps convey message: 'Jabariya Jodi' writer

Why Elon Musk's girlfriend screams as honey tea gets slowly boiled