Demand for bigger homes refuses to wane, avg flat size up 37% in Delhi NCR

NCR saw maximum growth (of 37%) in avg. flat sizes among top 7 cities - from 1,375 sq. ft. in 2022 to 1,890 sq. ft in 2023

Demand for bigger apartments refuses to wane despite rising residential prices. The average flat sizes in India's top seven cities- Mumbai Metropolitan Region, Delhi NCR, Hyderabad, Kolkata, Bengaluru, Chennai and Pune-  have grown 11 per cent annually in 2023, from 1,175 sq. ft. in 2022 to 1,300 sq. ft. in 2023, shows data analysed by property consulting firm Anarock. 

Back in 2021 and 2020, the average flat size across the top seven cities was comparable to 2022 - 1,170 sq. ft. in 2021 and 1,167 sq. ft. in 2020.

Among the top 7 cities, NCR saw the highest growth (37 per cent) in average flat size in the last one year – from 1,375 sq. ft. in 2022 to 1,890 sq. ft. in 2023. Developers in the region are actively tracking demand and launching larger homes - homebuyer demand is skewed significantly towards luxury apartments, which are primarily defined by bigger sizes, noted the report.

"North-bound housing prices in the top cities have in no way dispelled the demand for generous living spaces,” said Anuj Puri, Chairman – ANAROCK Group. “The supply of bigger luxury homes increased significantly in 2023. ANAROCK data indicates that more than one lakh units (or approx. 23%) of the total new launches in 2023 were in the luxury category. The demand for bigger-size homes was kick-started by the pandemic, but there are no signs of it waning three years later. Led by an enduring ‘new normal’ in homebuyer preferences, this demand seems eminently sustainable.”

The 5-year trend shows  NCR again saw the maximum rise of average flat sizes in 2023 with 51%, followed by Hyderabad with a 35% rise in this period. "In NCR, the average flat size increased from 1,375 sq. ft. in 2022 to 1,890 sq. ft. in 2023, rising by 37% on a yearly basis. If we consider 5-yearly trends, avg. flat size jumped by 51% from 1,250 sq. ft. in 2019," said Puri.

Hyderabad has the highest average flat size in 2023 at 2,300 sq. ft., followed by NCR with 1,890 sq. ft. 

Avg. flat sizes in Hyderabad witnessed a 30% yearly increase, and a 35% 5-yearly rise. The avg. flat sizes in the city stood at 1,700 in 2019, 1,775 sq. ft. in 2022, and 2,300 sq. ft. in 2023.

In the other southern cities - Chennai and Bengaluru – average flat sizes are 1,260 and 1,484 sq. ft., respectively. In Bengaluru, the average flat size increased by 26% in the year - from 1,175 sq. ft. in 2022 to 1,484 sq. ft. in 2023. On a 5-yearly basis, India’s Silicon Valley saw a 16% jump in avg. flat sizes, from 1,280 sq. ft. in 2019.

Chennai saw a 5% yearly jump in avg. flat sizes – from 1,200 sq. ft. in 2022 to 1,260 sq. ft. in 2023, and a 15% 5-yearly rise. The avg. flat size stood at 1,100 sq. ft. in 2019.

Pune’s average flat size stood at 1,086 sq. ft. in 2023.Avg. flat sizes in Pune saw a 11% yearly increase to 1,086 sq. ft. in 2023 from 980 sq. ft. back in 2022. In last five years, the city saw a 19% jump in avg. flat sizes. In 2019, it stood at 910 sq. ft.

MMR and Kolkata were the only two cities where the average flat sizes decreased in the last one year.

In MMR, average flat sizes stood at 840 sq. ft. in 2022 and decreased to 794 sq. ft. in 2023 – a 5% yearly decline. However, over a 5-year period, avg. sizes in MMR were similar to 2019 at 784 sq. ft.

In Kolkata, avg. flat sizes saw a 2% yearly decline from 1,150 sq. ft. in 2022 to 1,124 sq. ft. in 2023. However, over a 5-year period, avg. flat sizes have risen by 12% in the city. Avg. flat size in the city stood at 1,000 sq. ft. in 2019.