Thursday, August 13, 2009

Affordable housing for Rs. 8-10 lakh income category!

"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

Related Story:

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.

Please, share your views in the comments. Comments Policy

Subscribe for Free!

To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog

For my blogs on real estate projects near Hinjewadi, real estate investment, advertising and other related topics, please, visit and join my Ravi Karandeekar's Pune Real Estate Blog Group

8 comments:

  1. WTF. This study is just shit. Nothing truth.
    you should refrrain for posting such shit on ur blog if you really care for the quality of news.

    ReplyDelete
  2. When the cost price of any flat in Pune (in any locality) is around 10 to 12 lakhs, why one should shelve out 50 lakhs for the same property?

    Why these builders expect us to pay installments through out life time?

    They should fix prices based on actual cost of flat and not on how much people earn.

    ReplyDelete
  3. # Ref: "why one should shelve out 50 lakhs for the same property?"

    Yes sir, you are right! Nobody should!!

    # Ref: "Why these builders expect us to pay installments through out life time?"

    No! Builder expects you to payback your first loan and buy your next home which fulfills the needs of your growing family and your status in the society. Every business grows on the repeat customers.

    # Ref: " They should fix prices based on actual cost of flat and not on how much people earn."

    It's free economy, not a state controlled socialist economy. That's why you can change the job for better pay package!

    ReplyDelete
  4. #Ref: "It's free economy, not a state controlled socialist economy. That's why you can change the job for better pay package!"

    If changing jobs for better pay packages just to fund your greedy builders is called free economy, I wonder how you treat majority of guys who do not earn as much so as to afford 50 lakhs flats.

    I think you are one those Builder-hired (and paid) agent to start up blogs and get people into thinking that prices of flats are justified irrespective of what majority of people earn.
    Good luck for your main/side business.

    And don't ever give trash of free economy, etc.. Remember US home crisis?

    ReplyDelete
  5. "WTF. This study is just shit. Nothing truth.
    you should refrrain for posting such shit on ur blog if you really care for the quality of news."

    Quite True.
    Ravi, what free economy has to do with property prices?
    By your logic everyone must keep changing jobs to buy things.

    Also, the price of other things like car, etc. should also shoot up 400% like real estate (w.r.t. 2004).

    Unfortunately salaries don't do so.
    I will be glad if someone gives a raise of 500%!!

    ReplyDelete
  6. # Ref: "Unfortunately salaries don't do so.
    I will be glad if someone gives a raise of 500%!!"

    Yes, you are right about salary rise. Thanks for the comment.

    ReplyDelete
  7. # Ref: "Good luck for your main/side business.

    And don't ever give trash of free economy, etc.. Remember US home crisis?"

    Thanks for the comment.

    You believe in "fix prices based on actual cost of flat". Right? Good!

    ReplyDelete