- Average flat size in the top 7 cities rose from 1,420 sft in 2023 to 1,540 sft in 2024
- NCR saw the steepest rise among the top 7 cities ā from 1,890 sft in 2023 to 2,435 sft in 2024, largely due to higher luxury supply
- Among the top 7 cities, NCR’s average flat size is highest, followed by Hyderabad; predictably, MMR has lowest average flat size
- Only Hyderabad saw a yearly average size decline (9%) – from 2,299 sft in 2023 to 2,103 sft in 2024
- B/w 2019 & 2024, average flat sizes in top 7 cities saw a significant 34% rise; NCR saw the highest jump of 95%
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 8% annually in 2024 ā from 1,420 sft in 2023 to 1,540 sft in 2024. Back in 2019, the average flat size in these cities was 1,145 sft, indicating a whopping 34% 6-year jump.
“A deep-dive into the data shows that at 29%, NCR saw the highest annual growth of average flat size ā from 1,890 sft in 2023 to 2,435 sft in 2024,” says Anuj Puri, Chairman – ANAROCK Group.
“This surge is primarily attributable to the increased new luxury housing supply in the region over the last year. Developers here are closely tracking and responding to demand, which is why NCR has seen significant new supply in the >Rs 1.5-crore price bracket. Size is one of the key defining characteristics of luxury homes.”
Of the 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% last year ā from 24% in 2023 to 11% in 2024.
Chronically space-constrained MMR saw the lowest average flat size growths in six years. The average flat size in MMR was 784 sft in 2019 and increased by 8% to 849 sft in 2024. From 2020 onward, the average size in MMR was the highest in 2024, at 849 sft.
- Among the top 7 cities, NCR recorded the highest average flat size at 2,435 sft in 2024, followed by Hyderabad with 2,103 sft.
- Average flat sizes in the other southern cities – Chennai and Bengaluru ā were 1,445 and 1,660 sft respectively in 2024.
- Kolkataās average flat size stood at 1,149 sft while in Pune, it was 1,135 sft 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, driven by actual demand. Flat sizes are increasing because of significant and consistent traction in the luxury segment.
City Highlights
The six-yearly trend of average flat sizes in the top 7 cities shows an overall 34% rise ā from 1,145 sft in 2019 to 1,540 sft in 2024. In the last year, there has been an 8% jump, with Hyderabad the only city to see flat sizes decrease in this period.
- In NCR, the average flat size increased by 95% in the last six years – from 1,250 sft in 2019 to 2,435 sft in 2024. In the last year, there was a 29% rise in the region. In 2023, the average flat size in NCR was 1,890 sft. In both periods, NCR saw the highest jump among all the top 7 cities.
- In MMR, average flat sizes remain the lowest among the top 7 cities, at 849 sft in 2024. There has been an 8% increase in 2024 against 2019 (when it was 784 sft). In the last year, the region saw the average flat size rise by 7%.
- In Hyderabad, the average flat size rose 24% in six years – from 1,700 sft in 2019 to 2,103 sft 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 ā from 1,280 sft in 2019 to 1,660 sft in 2024. Between 2023 and 2024, the city saw a 12% rise.
- In Kolkata, the average flat size saw a 15% increase in six years – to 1,149 sft in 2024 from 1,000 sft in 2019. In 2023, the average flat size was around 1,124 sft, a modest 2% yearly rise in 2024.
- In Pune, the average flat size saw a 25% six-yearly increase – to 1,135 sft in 2024 from 910 sft in 2019. In the last year, there has been a 4% jump in average flat sizes in the city.
- Chennai saw a 31% jump in the last six years ā from 1,100 sft in 2019 to 1,445 sft in 2024. In the last year, the city saw a 15% jump in average flat size.