+
Average apartment size increased 10% in 2020
Real Estate

Average apartment size increased 10% in 2020

A report by Anarock Property Consultants showed the average apartment size in the top seven cities has risen 10% on a yearly basis, with work-from-home being cited as the primary contributor to the cause.

The average size has risen to 1,150 sq ft in 2020, from 1,050 sq ft in 2019, said the report.

There had been a gradual decrease in the average apartment size on a year-on-year basis since 2016. The maximum decline was witnessed in the year 2017. Average apartment size fell from 1,440 sq ft in 2016 to 1,260 sq ft in 2017—a margin drop of 13%.

Hyderabad still has the largest average apartment size at 1,750 sq ft among the top cities, twice as that of the Mumbai Metropolitan Region (MMR), where the average size is 932 sq ft, the lowest among the big cities.


4th Indian Cement Review Conference 2021

17-18 March 

Click for event info

In terms of percentage increase, MMR saw a maximum rise of 21%. Apartment size shot up to 932 sq ft in 2020 from an average of 773 sq ft in 2019. Pune came in next with 12% annual increase in average apartment size from 878 sq ft in 2019 to 986 sq ft in 2020, said the report.

Developers swiftly caught up with “size matters” and the second half of 2020 saw average apartment size in the top 7 cities increase by 10%. Pune and MMR, which had the smallest average flat size among all the top cities, witnessed the maximum increase in 2020 over the previous year, 21% and 12% respectively, the report stated.

Image Source

A report by Anarock Property Consultants showed the average apartment size in the top seven cities has risen 10% on a yearly basis, with work-from-home being cited as the primary contributor to the cause. The average size has risen to 1,150 sq ft in 2020, from 1,050 sq ft in 2019, said the report. There had been a gradual decrease in the average apartment size on a year-on-year basis since 2016. The maximum decline was witnessed in the year 2017. Average apartment size fell from 1,440 sq ft in 2016 to 1,260 sq ft in 2017—a margin drop of 13%. Hyderabad still has the largest average apartment size at 1,750 sq ft among the top cities, twice as that of the Mumbai Metropolitan Region (MMR), where the average size is 932 sq ft, the lowest among the big cities.4th Indian Cement Review Conference 202117-18 March Click for event info In terms of percentage increase, MMR saw a maximum rise of 21%. Apartment size shot up to 932 sq ft in 2020 from an average of 773 sq ft in 2019. Pune came in next with 12% annual increase in average apartment size from 878 sq ft in 2019 to 986 sq ft in 2020, said the report. Developers swiftly caught up with “size matters” and the second half of 2020 saw average apartment size in the top 7 cities increase by 10%. Pune and MMR, which had the smallest average flat size among all the top cities, witnessed the maximum increase in 2020 over the previous year, 21% and 12% respectively, the report stated. Image Source

Next Story
Infrastructure Transport

Syama Prasad Mookerjee Port Partners to Redevelop Nimtala Ghat

Kolkata: Syama Prasad Mookerjee Port, Kolkata (SMPK), signed a Memorandum of Understanding (MoU) on Tuesday with PS Group Realty Private Limited to redevelop and beautify Nimtala Ghat as part of PS Group’s Corporate Social Responsibility (CSR) initiative.The agreement was formalised at SMPK’s Head Office at 15, Strand Road, in the presence of SMPK chairman Rathendra Raman, deputy chairman Samrat Rahi, PS Group directors Saurav Dugar, Gaurav Dugar, Arun Sancheti, and senior SMPK officials.Under the MoU, PS Group will undertake the full redevelopment and permitted construction of Nimtala Imm..

Next Story
Infrastructure Urban

CSIR-NCL and Covestro Collaborate to Upcycle Polyurethane Waste

In a move towards sustainable plastic waste management, Pune-based CSIR-National Chemical Laboratory (CSIR-NCL) signed a Memorandum of Understanding (MoU) with Covestro (India) Private Limited on Wednesday to develop innovative upcycling technologies for polyurethane waste.Polyurethane is notoriously difficult to recycle, with current methods often proving inefficient, costly, and environmentally harmful. This collaboration aims to address existing challenges, including high energy usage and deterioration of material quality during recycling.Ashish Lele, director of CSIR-NCL, stated, “This p..

Next Story
Infrastructure Urban

Torrent Pharma Seeks CCI Approval for Rs 195 Billion JB Chemicals Deal

Ahmedabad-based Torrent Pharmaceuticals has sought clearance from the Competition Commission of India (CCI) to acquire a majority stake in J B Chemicals and Pharmaceuticals in a Rs 195 billion deal.Upon completion, Torrent Pharmaceuticals will become India’s second most valuable pharmaceutical company.The move follows Torrent’s June announcement to acquire a majority stake in J B Chemicals for Rs 195 billion.“The proposed combination pertains to the acquisition of shareholding by Torrent Pharmaceuticals Ltd in J B Chemicals & Pharmaceuticals Ltd, followed by the merger of the target ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?