KOLKATA: Home buyers in Kolkata need to spend 27% of the family income on home loan, making it one of the most affordable cities in the country. Only Ahmedabad, Chennai and Pune are more affordable. While home buyers spend 22% of the income on EMIs in Ahmedabad, it is a shade lower than Kolkata at 26% in both Chennai and Pune.
The threshold of affordability is 50%. Most banks prefer to offer loans with EMIs not exceeding 50% of the family income to ensure that customers are able to service the loan and not become a defaulter.
