10 Most Affordable Locations to Buy a House in India

When it comes to real estate purchases, affordability has always been a crucial factor for home buyers. However, this heightened with the onset of the pandemic as most of the working population faced severe cash crunch due to job uncertainties, unpredictable lay-offs and salary cuts. 

Along with other industries, in 2020, COVID had also hit the real estate market hard, lowering overall demand which in turn affected property prices and home loan interest rates.

While 2021 has been the year of recuperation for the realty sector, more buyers have started to look for affordable houses to welcome stability in their lives.

But, the inevitable question still lingers on: Where to find affordable homes? While popular notion dictates that property prices in metropolitan cities are sky-high, Square Yards research says otherwise.

Based on property listings on squareyards.com, we have curated a list of 10 most affordable locations across the top six* cities in India for buying a home. 

*Note: This research is based on average prices of properties across six metropolitan cities, including Pune, MMR, Bengaluru, Hyderabad, Gurugram and Noida as mentioned in Square Yards property listings.

Most Affordable Cities to Buy a House in India

Square Yards research reveals that as of 2021, the most affordable cities to buy a home in India include Noida, Greater Noida, Gurugram and Hyderabad. However, when dug deep, we identified 10 best affordable locations for homes in these four cities. These include the following.

It is clearly visible from the table above that Shamirpet in Hyderabad was the most affordable residential location in 2021 with the lowest average capital value/Sq. Ft. while the most expensive locality was Sector 45 in Noida. 

Top Affordable Localities Within Noida

Sectors 73, 45 and 49, Sarfabad Village and Noida Central are the five best locations where you can find properties at affordable prices. Let’s have a more in depth analysis of each of these properties below. Check out the following table for a comprehensive understanding on the average per Sq. Ft. prices.  

Sector 73

With an average price of Rs 1,971 per Sq. Ft., Sector 73 is one of the most prominent localities for those moving to Noida for the first time. 

It has everything from family-friendly parks to top-notch restaurant options suited for all sorts of requirements. However, there are no budget-friendly 3 BHK or 4BHK apartments in this area.

Only 1BHK and 2BHK apartments are available with an average per Sq. Ft. price of Rs 1,961 and Rs 1,994, respectively. This limits the potential of budget apartments in Sector 73 as 1 and 2BHK properties are only suitable for singles, couples and small families. 

Sector 49

As per Square Yards listings, the average price per Sq. Ft. in Sector 49, Noida is Rs 2,260 which is well above the average price we saw in Sector 73. However, Sector 49 is more developed, well-connected and rich in amenities than Sector 73 as you will find popular schools, hospitals, institutes, and malls within the locality. This convenience reflects in the average per Sq. Ft. pricing of 1BHK, 2BHK and 3BHK apartments in this sector which are Rs 2,573, Rs 2,601 and Rs 2,979, respectively.

Sarfabad Village

Located just a few kilometres away from Sector 73, properties in Sarfabad Village carry an average price of Rs 2,381 per Sq. Ft. The location is not as developed as the other areas in Noida but it has amazing connectivity along with provision for affordable housing options in the form of individual low-cost homes and plots.

However, as compared to other affordable localities in Noida (except Sectors 45 and 49), the average prices per Sq. Ft. for 1 BHK, 2 BHK and 3BHK properties in this location inclines towards a much steeper price range of Rs 2,462, Rs 2,388 and Rs 2,297 per Sq. Ft., respectively.

 But what is peculiar about this pricing is that the average price of a 3BHK in Sarfabad Village is lesser than that of a 1BHK or a 2BHK property. The reason for this can mostly be attributed to the popularity of 1BHK units in this area.

Noida Central

The average price per Sq. Ft. in Noida Central is Rs 2,405. Considering its prime location, finding a ready to move affordable house comes off as a pleasant surprise for most people. A well-connected location, you can enjoy all major amenities here, including hospitals, schools, restaurants and shopping areas.

As far as pricing is concerned, it’s average price per Sq. Ft. for 1BHK, 2BHK, and 3BHK properties are Rs 2,197, Rs 2,599 and Rs 2,470, respectively. Considering the demographic of the locality and popularity of the apartment types in the area, it has been observed that 2 BHK units are pricier than the expected 3BHK units as more families put up in this location. Additionally, compared to Sarfabad Village, Sectors 45 and 49, you will find cheaper and more affordable 1BHK units in the area.

Sector 45

Sector 45 is one of the most buzzing locations in Noida with developed infrastructure, real estate and commercial properties, offices, and local amenities, including markets, malls and hospitals. The area offers a wide array of residential apartments, independent homes as well as builder floors and serves an excellent connectivity with other sectors of Noida and Delhi. 

Owing to the multiple facilities offered and the developed status of the locality, the average property price per Sq. Ft. in this location is Rs 2,599 which is a bit steeper than the other affordable localities in Noida.

However, when we check the average prices of 1BHK (Rs 2,505 per Sq. Ft.), 2BHK (Rs 2,582 per Sq. Ft.) and 3BHK (Rs. 2778 per Sq. Ft.) we find that it is way more affordable than Sector 49, especially when it comes to 2BHK and 3BHK properties.  

Top Affordable Localities Within Greater Noida

Noida Extension offers the most affordable property units in Greater Noida. However, while there are 1,2 and 3BHK properties in other localities of Noida, as per the listings available on squareyards.com, only 2 and 3BHK property units are available in Noida Extension.  

The average price of property units in Noida Extension is Rs 2,355 per Sq. Ft. Let’s check out the average per Sq. Ft. pricing of the different property units in these two locations below.

Now, if we compare the average prices from the above table, we will find that the 2BHK average property price per Sq. Ft. is more than that of 3BHK units in Noida Extension. This explains the increased popularity of 2BHK properties as compared to 3BHK in the locality and also points out that the current demography mostly consists of small to medium families.  

Top Affordable Localities Within Gurugram

Gurugram is not just India’s second-largest information technology hub, but also a cornucopia for real estate properties.  

While properties in most areas of this NCR region bear high prices, Palam Vihar Extension offers a more affordable rate making it one of the best low-cost housing locations. However, although it provides for easy transportation and access via metro stations like Dwarka Sector 21 and Cyber City (Rapid Metro) the locality is still developing.

The average price of properties in this area is Rs 2,385 per Sq. Ft. While the availability of 1 BHK in Palam Vihar Extension is slim, you will easily find 2BHK and 3BHK units at a reasonable average price of Rs 2,325 per Sq. Ft. and Rs 2,825 per Sq. Ft. However when compared to the average prices of properties in Noida, Greater Noida and even Hyderabad, its average price per Sq. Ft. for a 3BHK unit seems to be the highest.

Top Affordable Localities Within Hyderabad

Shamirpet, Dundigal and Muthangi are the three affordable locations in Hyderabad where you can easily find 2 and 3BHK properties. Let’s get to know about the average property pricing in each of these locations below. You can also glance through the following table for a better understanding.

Shamirpet

Shamirpet is a hamlet located in the northern area of Hyderabad and is one of the best affordable localities in the city. It has a lush green and exquisite environment and is a superb option for those looking to settle in a less populated area of Hyderabad. The average price per Sq. Ft. in Shamirpet is Rs 1,702. While a 2BHK apartment in this locality bears an average price of Rs 1,690 per Sq. Ft., 3 BHK apartments have an average price of Rs 1,738 per Sq. Ft.  

Dundigal

Dundigal is a rapidly growing residential location offering proximity to some of the best banks, gyms, schools, schools, supermarkets and restaurants.

Being a well-connected and amenity rich location, the property prices in Dundigal are a bit higher than other cost-effective areas in Hyderabad with its average price being Rs 2,577 per Sq. Ft.  

While 1BHK apartments are not available in the area, the average prices of 2BHK and 3BHK apartments are Rs 2,646 per Sq. Ft. and Rs 2,483 per Sq. Ft., respectively.    

Muthangi

Despite being in the city outskirts, Muthangi’s strategic location at the intersection of Nehru Outer Ring Road and NH-65 makes it a desirable locale for homebuyers. 

Affordable and well-connected, it is only 48kms away from the main city centre of Hyderabad but offers easy accessibility to multiple education institutions, shopping centres, hospital and the Patancheru industrial area.

With an average property price of Rs 2,137 per Sq. Ft., it is more affordable than Dundigal but proves to be expensive when compared with Shamirpet. While a 2BHK apartment has an average price of Rs 2,055 per Sq. Ft. in Muthangi, the average price of 3BHK apartments go up to Rs 2,366 per Sq. Ft.  

In a Nutshell

Your dream of owning a home can now become a reality. With property prices experiencing a steady low since COVID, there is no doubt that this is the best time to purchase a property in Noida, Greater Noida, Gurugram and Hyderabad. However, keep a rational perspective while evaluating different locations.Examine all the related factors (like connectivity, neighbourhood, property condition, etc.) and then finalise a particular area for your dream home.