Average apartment size rises 5% annually in Jan-Mar 2023: Anarock
Real estate developers are building bigger apartments to meet consumer demand, with the average size of flats launched in January-March this year rising 5 per cent annually across seven cities, according to property consultant Anarock.
As per the data, the average size of flats across seven major cities rose to 1,225 square feet in January-March this year from 1,170 square feet in the year-ago period.
Among seven cities, Delhi-NCR saw average flat size rising 50 per cent to 1,700 square feet in the first quarter of 2023 from 1,130 square feet in January-March last year.
Developers in Delhi-NCR are closely tracking demand and launching bigger homes in this region, Anarock noted.
Kolkata saw flat sizes increase by 44 per cent to 1,150 sq ft in Q1 2023 from 800 sq ft in the year-ago period.
The average flat size in Hyderabad rose 29 per cent to 2,200 sq ft in January-March from 1,700 sq ft in Q1 of 2022.
Pune witnessed a 16 per cent yearly increase to 1,013 square feet in Q1 2023 f