Mumbai's Home Dream Shattered: 47% Salary Eaten by EMI, Report Reveals Crisis

• Mumbai is India's least affordable city for homeownership, with salaried individuals spending 47% of their monthly income on home loan EMIs.
• A Knight Frank India report highlights Mumbai's housing crisis, contrasting it with Ahmedabad (8% EMI burden), the most affordable city.
• High land prices, government charges, rising material costs, labor wages, and interest rates are key drivers of Mumbai's expensive housing market.
• Demand for affordable MHADA homes is surging as private housing becomes increasingly out of reach for the middle class.
• Experts suggest infrastructure development outside Mumbai could ease pressure on prices, but this is a long-term solution (15-20 years).

Why It Matters: Mumbai's housing affordability crisis deepens, with nearly half of salaries going to EMIs.