Kolkata, Jan 22 (Reporter) Defying the significant rise in housing prices across cities in 2024, homebuyers continue their quest for bigger living spaces, a latest ANAROCK data revealed saying average flat sizes in the top seven cities rose by eight per cent annually in 2024 – from 1,420 sq. ft. in 2023 to 1,540 sq. ft. in 2024. Back in 2019, the average flat sizes in these cities was 1,145 sq. ft., indicating a whopping 34 pc 6-year jump. "A deep-dive into the data shows that at 29%, NCR saw the highest annual growth of average flat size – from 1,890 sq. ft. in 2023 to 2,435 sq. ft. in 2024," according to ANAROCK Group chairman Anuj Puri. "This surge is primarily attributable to the increased new luxury housing supply in the region over the last one year. Developers here are closely tracking and responding to demand, which is why NCR has seen significant new supply in the >INR 1.5 Cr price bracket. Size is one of the key defining characteristics of luxury homes." he said on Wednesday. Of the total 36,735 units launched in 2023, the luxury segment comprised a 40 pc share. In 2024, this segment accounted for 70 pc of the 53,000 units launched in the region. NCR's affordable housing segment saw its supply share drop by another 13 pc in the last one year – from 24 pc in 2023 to 11 pc in 2024. “Chronically space-constrained MMR saw the lowest average flat size growths in this six-year period,” added Puri. “The average flat size in MMR was 784 sq. ft. in 2019 and increased by 8 pc to 849 sq. ft. in 2024. From 2020 onward, the average size in MMR was the highest in 2024, at 849 sq. ft.” Among the top 7 cities, NCR recorded the highest average flat size at 2,435 sq. ft. in 2024, followed by Hyderabad with 2,103 sq. ft. Average flat sizes in the other southern cities - Chennai and Bengaluru – were 1,445 and 1,660 sq. ft. respectively in 2024. Kolkata’s average flat size stood at 1,149 sq. ft. while in Pune, it was 1,135 sq. ft in 2024. 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, and this is driven by actual demand. Flat sizes are increasing because of significant and consistent traction in the luxury segment...////...