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. Other cities -- Delhi-NCR, Hyderabad and Pune -- also witnessed varying degree of fall in median apartment sizes.
"Builders are exploring innovative ways to make residential housing across major cities more appealing to potential buyers at a time when it is increasingly becoming difficult to sell expensive apartments.
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About us
MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.
Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.
Contact
501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India
Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com
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