New Delhi [India], August 11 (ANI): The average flat sizes in India's top seven cities have surged by 32 per cent over the past five years, with the National Capital Region (NCR) witnessing a significant 96 per cent growth, the Anarock Group said in the latest report. The report highlights a major shift in consumer preferences towards larger homes, despite rising property prices. It observed that the average flat size across these major cities increased from 1,145 square feet in 2019 to 1,513 square feet in the first half of 2024 (H1 2024).
NCR saw the most dramatic increase, with average flat sizes growing from 1,250 square feet in 2019 to 2,450 square feet in the first half (H1) of 2024. This was largely driven by an upward trend in luxury apartment supply. The growth observed in the NCR positioned the region as the leader in average flat size among the top seven cities.
Hyderabad followed NCR where the average flat size is now 2,010 square feet. Santhosh Kumar, Vice Chairman of Anarock Group, says, "This significant jump in NCR's average flat size is largely due to the increased new supply of luxury apartments in the last year. Developers here are responding to the higher demand for spacious luxury homes with appropriate supply.
" While NCR leads in terms of growth, other cities also recorded notable increases in average flat sizes. Bengaluru saw a 27 per cent rise, with sizes increasing from 1,280 square feet in 2019 to 1,630 square feet in H1 2024. Chennai followed closel.