Bengaluru is ranked the most affordable city in India especially when it comes to an individual's capacity to rent a home against the option of purchasing it and the distance from the central business district. The other top four cities include Indore, Rajkot, Vadodara and Kolkata, according to the Moneycontrol-Liases Foras House Purchase Affordability Index.
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Five homebuyers residing in the top five cities that command the highest rental yields share details about how much they spend on groceries, entertainment, transportation and on domestic help every month.
In times like these when you have the option to work from home, Indians are now open to simply pack their belongings and relocate to new cities in search of a new home or a place where rents are low. While the task of relocating to another city is exciting, it is also daunting. Here's what you need to assess before settling in a new place.
Before relocating to a new city, make a budget sheet, consider major expense heads, arrange the necessary funds and plan for intangible expenses as well
While there is always a good time to buy an apartment, you must purchase one only if you are sure that you have the sufficient funds to afford it. Ensure that you have a sizeable amount set aside to be paid as down payment too.
Here’s why Bengaluru, Indore, Rajkot, Vadodara and Kolkata are steadiest performers in the Moneycontrol-Liases Foras House Purchase Affordability Index
Choosing to buy or rent a house is an important decision. So is the city where you decide to settle in. Affordability is all about the cost of living, connectivity, ease of access as well as rental yields. Experts weigh in.
