Despite the significant rise in housing prices across cities in 2024, homebuyers continue their quest for bigger living spaces. Latest ANAROCK data shows that average flat sizes in the top 7 cities rose by 8% annually in 2024 – from 1,420 sq. ft. in 2023 to 1,540 sq. ft. in 2024. Back in 2019, the avg. flat sizes in these cities was 1,145 sq. ft., indicating a whopping 34% 6-year jump.
Of the total 36,735 units launched in 2023, the luxury segment comprised a 40% share. In 2024, this segment accounted for 70% of the 53,000 units launched in the region. NCR's affordable housing segment saw its supply share drop by another 13% in the last one year – from 24% in 2023 to 11% in 2024.
Chronically space-constrained MMR saw the lowest average flat size growths in this six-year period. The average flat size in MMR was 784 sq. ft. in 2019 and increased by 8% to 849 sq. ft. in 2024. From 2020 onward, the average size in MMR was the highest in 2024, at 849 sq. ft.
Among the top 7 cities, NCR recorded the highest average flat size at 2,435 sq. ft. in 2024, followed by Hyderabad with 2,103 sq. ft.
Average flat sizes in the other southern cities - Chennai and Bengaluru – were 1,445 and 1,660 sq. ft. respectively in 2024.
Kolkata’s average flat size stood at 1,149 sq. ft. while in Pune, it was 1,135 sq. ft in 2024.
Notably, average flat sizes across the top 7 cities are rising despite significantly increased property prices. The 6-year trend indicates a significant jump in average flat sizes post-COVID, and this is driven by actual demand. Flat sizes are increasing because of significant and consistent traction in the luxury segment.
The six-yearly trend of average flat sizes in the top 7 cities shows an overall 34% rise – from 1,145 sq. ft. in 2019 to 1,540 sq. ft. in 2024. In the last one year, there has been a 8% jump, with Hyderabad the only city to see flat sizes decrease in this period.
n NCR, the average flat size increased by 95% in the last six years - from 1,250 sq. ft. in 2019 to 2,435 sq. ft. in 2024. In the last one year, there was a 29% rise in the region. In 2023, the avg. flat size in NCR was 1,890 sq. ft. In both periods, NCR saw the highest jump among all the top 7 cities.
In MMR, avg. flat sizes remain the lowest among the top 7 cities, at 849 sq. ft. in 2024. There has been an 8% increase in 2024 against 2019 (when it was 784 sq. ft.) In the last one year, the region saw the avg. flat size rise by 7%.
In Hyderabad, the average flat size rose 24% in this six-year period - from 1,700 sq. ft. in 2019 to 2,103 sq. ft. in 2024. Contrastingly, between 2023 and 2024, Hyderabad was the only city to see the average flat size decrease (by 9%).
Bengaluru saw a 30% six-yearly jump – from 1,280 sq. ft. in 2019 to 1,660 sq. ft. in 2024. Between 2023 and 2024, the city saw a 12% rise.
In Kolkata, the avg. flat size saw a 15% increase in six years - to 1,149 sq. ft. in 2024 from 1,000 sq. ft. in 2019. In 2023, the avg. flat size was around 1,124 sq. ft., denoting a modest 2% yearly rise in 2024.
In Pune, the avg. flat size saw a 25% six-yearly increase - to 1,135 sq. ft. in 2024 from 910 sq. ft. in 2019. In the last one year, there has been a 4% jump in avg. flat sizes in the city.
Chennai saw a 31% jump in the last six years – from 1,100 sq. ft. in 2019 to 1,445 sq. ft. in 2024. In the last one-year period, the city saw a 15% jump in avg. flat size.
