Bhubaneswar: Notwithstanding the programmes and policies of the Central government as well as the state government to provide affordable housing schemes to the people, a survey by RBI reveals that the affordability in the country’s housing sector has worsen over the 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,” says the Residential Asset Price Monitoring Survey, which was released on Thursday.

The survey, however, finds that capital city of Odisha, Bhubaneswar, is most favourable city and Mumbai is the least in India when it comes to availability of affordable housings.

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

Dwelling on the worst condition in affordable housing sector, the report says 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 finds 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.