The average size of residential flats in major cities of the country has come down by 27 percent. A report by Anarock concludes. However, the average size of flats in the National Capital Region (NCR) has decreased by only six percent during this period.
Anarok chairman Anuj Puri said in a statement on Monday that due to the cash crunch, change in buyers preference and concerns over the price of houses, the builder is now focusing on building small housing units in seven major cities, moving away from ‘big is better’ Have been.
The property advisor said that the average size of flats in seven major cities … Mumbai Metropolitan Region, Delhi-NCR, Pune, Chennai, Bangalore, Hyderabad and Kolkata has come down by 27 per cent to 1,020 sq ft in five years. In 2014 it was 1,400 square feet.
Puri said that the surprising thing is that NCR’s realty market has been the most affected in recent years. But the average size of flats in NCR has come down by only six percent. Currently, the average size of flats in NCR is 1,390 square feet.
The average size of flats in Mumbai metropolitan area has come down by 45 percent to 530 square feet from 960 square feet in 2014.
The average size of flats in Pune has come down by 38 percent to 600 square feet. According to the report, the average size of flats in Chennai, Bangalore and Hyderabad has fallen by eight percent, nine percent and 12 percent respectively.
The flats in Hyderabad is currently the highest in the top seven cities, ie 1,570 square feet. It is 1,300 sq ft in Bengaluru and 1,190 sq ft in Chennai. Th flats in Kolkata dropped by nine per cent from 1,230 sq ft to 1,120 sq ft in five years.