New Delhi, Jan 21: Average apartment size in residential projects launched last year increased by 10 per cent to 1,150 sq ft, as builders expected demand for bigger flats to rise after the COVID-19 pandemic, according to property consultant Anarock.
The average apartment sizes were reducing year-on-year since 2016 but the trend has reversed last year
New Delhi, Jan 21: Average apartment size in residential projects launched last year increased by 10 per cent to 1,150 sq ft, as builders expected demand for bigger flats to rise after the COVID-19 pandemic, according to property consultant Anarock.
Average apartment sizes in seven major cities have risen by 10 per cent on a yearly basis to 1,150 sq ft in 2020 from 1,050 sq ft in 2019, it said in a report.
The consultant said the average apartment sizes were reducing year-on-year since 2016 but the trend has reversed last year.
Anarock Chairman Anuj Puri said, "The two main reasons for apartment sizes reducing in previous years were affordability and millennials' preference for low-maintenance homes. Keen to generate more buyer interest with smaller price-tags, developers whittled down their flat sizes."
He, however, added that the year 2020 saw an almost immediate reversal of buyer preferences. "With the accent suddenly being on accommodating the WFH (work-from-home) and learn-from-home culture, flat sizes began increasing for the first time in four years."
According to the report, Hyderabad has the highest average apartment size of 1,750 sq ft in 2020, increasing by just 3 per cent against 1,700 sq ft in 2019.
The Mumbai Metropolitan Region (MMR) saw the highest rise of 21 per cent to 932 sq ft in 2020 from 773 sq ft in the previous year, while Pune witnessed a rise of 12 per cent to 986 sq ft last year from 878 sq ft in 2019.
The flat size rose 3 per cent in Bengaluru from 1,280 sq ft in 2019 to 1,320 sq ft in 2020.
In Delhi-NCR, average apartment size was 1,290 sq ft in 2020, against 1,250 sq ft in 2019.
Chennai saw average sizes increasing by 9 per cent from 1,100 sq ft in 2019 to nearly 1,200 sq ft in 2020.
In Kolkata, the average apartment size increased by 10 per cent, from 1,000 sq ft in 2019 to 1,100 sq ft in 2020.
According to the report, the average apartment sizes across seven cities stood at 1,400 sq ft in 2015, 1,440 sq ft in 2016, 1,260 sq ft in 2017, 1,160 sq ft in 2018, 1,050 sq ft in 2019 and 1,150 sq ft last year.