For the very first time in 4 years, the Indian homebuyers are preferring ‘bigger homes’, many thanks to do the job from home society, reveals a report by ANAROCK Property Consultants. The average condominium sizes in the major seven cities in India have improved by 10% on a annually foundation, it mentioned. The typical dimension of an condominium was 1,150 square feet in 2020, even though in 2019 it was at 1,050 square ft.
The condominium dimensions have started lessening given that 2016 on a annually basis. The calendar year 2017 saw the highest annually decline of 13% in normal apartment dimensions. Apartment sizes fell from an average of 1,440 sq. toes in 2016 to 1,260 sq. ft in 2017.
“The two major explanations for condominium dimensions minimizing in prior years have been affordability and millennials’ desire for minimal-upkeep homes. Eager to deliver far more purchaser desire with scaled-down rate-tags, builders whittled down their flat measurements,” claimed Anuj Puri, chairman, ANAROCK Residence Consultants, said.
The next info exhibits the common decline in the apartment measurement in the top 7 towns
2015 – 1,400 sq. toes
2016 – 1,440 sq. feet
2017 – 1,260 square toes
2018 – 1,160 sq. toes
2019 – 1,050 sq. feet
2020 – 1,150 square toes
“Even so, 2020 saw an just about instant reversal of buyer preferences. With the accent suddenly being on accommodating the WFH and discover-from-household culture, flat sizes commenced growing for the first time in four yrs,” Puri added.
Among the prime towns, the average condominium measurement is the best in Hyderabad at 1,750 square toes. It is two instances even larger than Mumbai Metropolitan Region (MMR), in which the normal measurement is 932 square feet. It ought to be described, the normal apartment dimensions is the most affordable in MMR. However, in phrases of share boost, MMR observed the utmost rise of 21% — from an typical of 773 square ft in 2019 to 932 sq. ft.
Pune arrived up coming with a 12% annual enhance in typical apartment dimensions – from 878 square feet in 2019 to 986 square toes in 2020.
In Bangalore, the typical condominium size dimensions also greater by 3% — from 1,280 square feet in 2019 to 1,320 square toes in 2020. The common apartment measurement in the countrywide funds region (NCR) was 1,290 sq. feet in 2020 as from 1,250 sq. feet in 2019. Chennai witnessed typical measurements boost by 9% throughout the time period – from 1,100 sq. feet in 2019 to nearly 1,200 sq. feet in 2020. In Kolkata, regular apartment measurement elevated by 10% — from 1,000 square feet in 2019 to 1,100 square feet in 2020.