Urban Flat Sizes See 34% Growth Over Six Years

Urban Flat Sizes See 34% Growth Over Six Years.

Despite a significant rise in housing prices across cities in 2024, homebuyers continue to prioritize larger living spaces. According to the latest Anarock data, the average flat sizes in the top seven cities rose by eight per cent annually in 2024—from 1,420 sq. ft. in 2023 to 1,540 sq. ft. in 2024. Back in 2019, the average flat size in these cities was 1,145 sq. ft., marking a remarkable 34 per cent increase over six years.

This growth is fueled by increasing demand in the luxury housing segment. Of the total 36,735 units launched in 2023, the luxury segment constituted 40 per cent. In 2024, this segment expanded to 70 per cent of the 53,000 units launched. Meanwhile, the affordable housing supply in NCR experienced a significant decline, dropping from 24 per cent in 2023 to just 11 per cent in 2024.

City-Wise Breakdown of Flat Sizes in 2024

NCR (National Capital Region): NCR recorded the largest average flat size at 2,435 sq. ft. in 2024, representing a 95 per cent rise over six years, from 1,250 sq. ft. in 2019. The last year alone saw a 29 per cent increase from 1,890 sq. ft. in 2023.

Hyderabad: Although Hyderabad’s six-year growth in average flat sizes was 24 per cent (from 1,700 sq. ft. in 2019 to 2,103 sq. ft. in 2024), it was the only city to experience a decline (nine per cent) between 2023 and 2024.

Chennai: Chennai saw a 31 per cent increase in average flat sizes over six years, from 1,100 sq. ft. in 2019 to 1,445 sq. ft. in 2024. Between 2023 and 2024, flat sizes rose by 15 per cent.

Bengaluru: The city witnessed a 30 per cent growth in six years, from 1,280 sq. ft. in 2019 to 1,660 sq. ft. in 2024. In the last year alone, Bengaluru recorded a 12 per cent rise.

Kolkata: Average flat sizes in Kolkata grew modestly by 15 per cent over six years, from 1,000 sq. ft. in 2019 to 1,149 sq. ft. in 2024. The annual increase from 2023 to 2024 was just two per cent.

Pune: Pune’s average flat size rose by 25 per cent in six years, from 910 sq. ft. in 2019 to 1,135 sq. ft. in 2024. The city saw a four per cent increase in the past year.

MMR (Mumbai Metropolitan Region): MMR had the smallest average flat size among the top seven cities, at 849 sq. ft. in 2024. However, this represents an eight per cent growth over six years (from 784 sq. ft. in 2019). The annual growth from 2023 to 2024 was seven per cent.

Key Observations

Post-COVID Demand for Space: The six-year trend highlights a significant increase in average flat sizes, driven by a shift in buyer preferences for larger homes post-COVID. This is evident despite rising property prices across cities.

Luxury Segment Driving Growth: The luxury segment’s share of new launches has grown substantially, contributing to the rise in average flat sizes across all cities.

NCR’s Exceptional Growth: NCR stands out with a 95 per cent increase in flat sizes over six years, the highest among all cities. It underscores the region’s focus on catering to affluent homebuyers seeking expansive living spaces.

While some cities like Hyderabad showed a dip in flat sizes recently, the overall trend across India’s urban landscape points to a clear preference for larger homes, particularly in the luxury segment. With consistent demand and developers responding to evolving buyer expectations, the trend of increasing flat sizes is expected to continue in the coming years.

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