Technoglitch
Core Member
Average apartment sizes fell by up to 26 per cent in last five years across seven major cities as developers are making smaller flats to boost their sales in a sluggish housing market, according to global property consultant JLL India.
To beat slowdown in the real estate market, particularly residential segment, builders are cutting the flat sizes but not reducing the housing prices.
Mumbai Metropolitan Region (MMR), including Mumbai, Thane and Navi Mumbai, witnessed the maximum fall in apartment sizes on annualised basis, along with Bangalore, Chennai and Kolkata.
Unable to sell expensive homes in a sluggish market, Puri said the builders across India are making smaller apartments without lowering the price per square feet and compromising on the quality of product. “In the last five years, average apartment sizes are falling across all major cities of India.”
Mumbai, which already had smaller and compact apartment sizes compared to other cities, saw a decrease of 26.4 per cent in the past five years.
Builders cut flat sizes by up to 26% over last 5 years: JLL | The Financial Express
To beat slowdown in the real estate market, particularly residential segment, builders are cutting the flat sizes but not reducing the housing prices.
Mumbai Metropolitan Region (MMR), including Mumbai, Thane and Navi Mumbai, witnessed the maximum fall in apartment sizes on annualised basis, along with Bangalore, Chennai and Kolkata.
Unable to sell expensive homes in a sluggish market, Puri said the builders across India are making smaller apartments without lowering the price per square feet and compromising on the quality of product. “In the last five years, average apartment sizes are falling across all major cities of India.”
Mumbai, which already had smaller and compact apartment sizes compared to other cities, saw a decrease of 26.4 per cent in the past five years.
Builders cut flat sizes by up to 26% over last 5 years: JLL | The Financial Express
