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March 2021
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News Headlines
CM flays Rahul''s silence over Cong govt falling in party-ruled states        Kerala has become ''fundamentalists'' own country'' under CPI(M) rule, says Sitharaman        COVID-19 crisis far from over; 3rd wave to be more dangerous: CSIR official        Army cancels recruitment exam after paper leaked        Rahul dubs PM Modi a ''formidable enemy,'' vows to defeat him        ISRO launches DRDO''s satellite Sindhu Netra        On National Science Day, Modi asks citizens to practise Lab to Land mantra        UN Human Rights Office says 18 killed in Myanmar crackdown        FDA authorizes Johnson & Johnson vaccine against Covid-19 for emergency use        ISL: Straight shootout for final playoff berth between Goa and Hyderabad        Comments against judges a disturbing new trend: Ravi Shankar Prasad        Syria airstrikes: President Biden protected US personnel, facilities, says White House        DGCA extends suspension of scheduled international passenger flights till February 28        Rahul launches tirade against Modi, talks about ''connect'' with Tamil Nadu        Fishing hartal hits coastal belt in Kerala        Five assembly polls to begin Mar 27, Bengal to have max 8 phases; counting on May 2        Vijayan claims Rahul shying away from attacking BJP        Kerala to test all returning expats using RT-PCR; 3,671 fresh COVID-19 cases, 14 deaths reported        Gelatin sticks, detonators seized from train passenger in Kerala        Hundreds of Nigerian schoolgirls taken in mass abduction        
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Business News
Average flat size increases 10 pc in 2020 across 7 cities to 1,150 sq ft: Report
 
New Delhi, Jan 21 (PTI) Average apartment size in residential projects launched last year increased by 10 per cent to 1,150 sq ft, as builders expected demand for bigger flats to rise after the COVID-19 pandemic, according to property consultant Anarock.

Average apartment sizes in seven major cities have risen by 10 per cent on a yearly basis to 1,150 sq ft in 2020 from 1,050 sq ft in 2019, it said in a report.

The consultant said the average apartment sizes were reducing year-on-year since 2016 but the trend has reversed last year.

Anarock Chairman Anuj Puri said, "The two main reasons for apartment sizes reducing in previous years were affordability and millennials' preference for low-maintenance homes. Keen to generate more buyer interest with smaller price-tags, developers whittled down their flat sizes."

He, however, added that the year 2020 saw an almost immediate reversal of buyer preferences. "With the accent suddenly being on accommodating the WFH (work-from-home) and learn-from-home culture, flat sizes began increasing for the first time in four years."

According to the report, Hyderabad has the highest average apartment size of 1,750 sq ft in 2020, increasing by just 3 per cent against 1,700 sq ft in 2019.

The Mumbai Metropolitan Region (MMR) saw the highest rise of 21 per cent to 932 sq ft in 2020 from 773 sq ft in the previous year, while Pune witnessed a rise of 12 per cent to 986 sq ft last year from 878 sq ft in 2019.

The flat size rose 3 per cent in Bengaluru from 1,280 sq ft in 2019 to 1,320 sq ft in 2020.

In Delhi-NCR, average apartment size was 1,290 sq ft in 2020, against 1,250 sq ft in 2019.

Chennai saw average sizes increasing by 9 per cent from 1,100 sq ft in 2019 to nearly 1,200 sq ft in 2020.

In Kolkata, the average apartment size increased by 10 per cent, from 1,000 sq ft in 2019 to 1,100 sq ft in 2020.

According to the report, the average apartment sizes across seven cities stood at 1,400 sq ft in 2015, 1,440 sq ft in 2016, 1,260 sq ft in 2017, 1,160 sq ft in 2018, 1,050 sq ft in 2019 and 1,150 sq ft last year.


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KERALA NEWS
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