CHENNAI: Chennaiities would probably rub their eyes in disbelief to hear their city is one of the cheapest on the planet to live in. A report by the Economist Intelligence Unit (EIU), part of The Economist Group , says that four Indian cities, including Chennai, are among the 10 cheapest places on the planet. While Bengaluru is ranked the third cheapest in the world, Chennai figures in sixth place followed by Mumbai and New Delhi in the seventh and tenth positions.Almaty in Kazakhstan has been ranked the cheapest city in the world followed by Lagos in Nigeria. Singapore retained the title as the most expensive city for the fourth consecutive year.Affordable transportation, housing and a multisectoral economy are the primary reasons that make Chennai a relatively cheap place to live, said Sarita Hunt , managing director, Chennai & Coimbatore, JLL India. “If I exit from the Chennai airport, I have plenty of multimodal transportation options like metrorail and suburban trains to reach different parts of the city . Similarly , the IT corridor of OMR and five national highways have houses catering to different categories of people,“ she added.The Worldwide Cost of Living is a bi-annual (twice yearly) EIU survey that compares more than 400 individual prices across 160 products and services. These include food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.The EIU's Worldwide Cost of Living 2017 report said Asia was home to some of the world's most expensive cities and also to many of the world's cheapest cities. “ Although the Indian subcontinent remains structurally cheap, instability is becoming an increasingly prominent factor in lowering the relative cost of living of a location,“ the EIU said, adding that “this means that there is a considerable element of risk in some of thsse world's cheapest cities“.Within Asia, the best value for money has traditionally come from South Asian cities, particularly those in India and Pakistan, the report said.Half of the 10 cheapest locations sur veyed are in this region, including Karachi which ranks 4th. “India is tipped for rapid expansion as Chinese growth declines, but much of this is driven by its demographic profile, and in per capita terms, wage and spending growth will come from a low base,“ the report said, adding that “cheaper cities tend also to be less liveable“.