Average apartment size shrinks by more than a fourth since 2014
High ticket size of buying an apartment is one of the biggest reasons that restrict many homebuyers
NCR, one of the worst-hit residential markets in recent years, has seen the least decline of merely 6% during this period
New Delhi: Real estate developers are not leaving any stone unturned to attract homebuyers. High ticket size of buying an apartment is one of the biggest reasons that restrict many homebuyers. But to make the offering look attractive, developers over the years have reduced the apartment sizes, which ultimately brought down the total purchasing price. According to an estimate by ANAROCK Property Consultants, “Recent data indicates that average apartment sizes in the top seven cities have shrunk by 27% over the last five years—from 1,400 sq.ft in 2014 to nearly 1,020 sq.ft in 2019 so far." The seven cities include—Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Pune, Chennai, Bangalore, Hyderabad and Kolkata.