As per data, there are 1.8 lakh unsold flats in the NCR areas.
New Delhi: According to a study by Anarock, a real estate services company, the average apartment sizes in the top seven cities in India have shrunk by 27 per cent over the last five years owing to liquidity crisis, changing buyer preferences, and growing concerns about affordability.
However, contrary to popular perception, the National Capital Region (NCR) has witnessed a decline of merely 6 per cent during this period as compared to 12 per cent in Bengaluru, 9 per cent in Hyderabad, and 8 per cent in Chennai among others.
The current average size of apartments in NCR is nearly 1,390 sq. ft., pulling ahead of Bangalore where average flat sizes reduced to 1,300 sq. ft. in 2019. As per data, there are 1.8 lakh unsold flats in the NCR areas.
According to the study, the Mumbai Metropolitan Region (MMR) has the least average apartment size among all top cities and it also recorded the highest drop of 45 per cent.