Average Apartment Sizes Goes Down 27% Since 2014: ANAROCK
New Delhi: The average residential property sizes has gone down by over a quarter at 27 percent since 2014 in the top seven cities in the country, according to ANAROCK property Consultant.
The average used to 1,400 sq ft in 2014 which has come down to 1020 sq ft in 2019. The highest decline has been in Mumbai which saw 45 percent fall in average sizes and the lowest decline has been in Delhi NCR which has seen only six percent fall.
The change in preferences of the buyers, affordability issues and liquidity problem has caused shrinkage in the apartments sizes in the country in these five years.
Chennai has seen eight percent decline in average sizes in the last five years. Bengaluru Kolkata both have seen a decline of nine percent.
Currently Hyderabad has the biggest apartments on an average. The average is 1,570 sq ft. Mumbai Metropolitan region has the smallest flats. The average here is 530 sq ft.