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Recent Post
17 Dec, 2019
Shrinking Apartment Sizes in India: A Changing Landscape
Think of the days when everyone used to live in an independent home of their own—when space was abundant, and homes were built on bigger plots. Rentals were low, and homes were sizable. Isn’t this a tale of the yesteryears?
Today, the situation has flipped:
The average size of apartments is shrinking.
The cost of housing is increasing.
The government has introduced policies to make housing affordable.
Our Prime Minister launched a program with the vision of providing affordable housing for all by 2022. In response, builders and developers have reduced apartment sizes to keep costs and rentals within reach for residents.
As per data, apartment sizes have significantly reduced in major cities over the past decade:
Mumbai: Shrunk by 26.4% since 2010 (from 1400 sq. ft. to 1050 sq. ft.).
Bengaluru: Reduced by 23.7% (from 1800 sq. ft. to 1500 sq. ft.).
Chennai: Declined by 22.2% over five years.
Pune: Saw a 7% decrease in apartment size.
Housing has been made more affordable through:
Reduced apartment sizes to lower costs.
Attractive payment plans with flexible terms and discounts.
Development in suburban areas, where properties are more affordable.
“The biggest issue in the market today is the ticket price, and we need to make that attractive for buyers,” said a real estate firm executive.
Amidst this shrinking apartment trend, Dholera Smart City and Greater Dholera stand out as promising investment opportunities. As India’s first smart city, Dholera offers:
Excellent connectivity
Well-planned infrastructure
Strategic location on the DMIC Corridor
Investors can purchase residential plots at low prices and build 2BHK bungalows or villas for the cost of a small apartment in a metro city. Since Dholera SIR is developing rapidly, property values are expected to appreciate significantly, offering high returns on investment.
Additionally, living in Dholera provides the luxury of spacious homes, which is now a rarity in metropolitan cities.
Residential plots and homes in Dholera can be explored online through various platforms, including:
🌐 www.smart-homes.in
Dholera offers maximum growth potential compared to any other city or smart city in India. It presents an unmissable opportunity for investors seeking high returns and better living spaces.
Source: LiveMint
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RERA Compliance
The Real Estate (Regulation and Development) Act, 2016 (RERA) was introduced to
enhance transparency and accountability in the real estate sector. However, it is
important to understand where and how this law applies, as its applicability varies
depending on the type of real estate transaction. RERA primarily regulates residential
and commercial real estate projects, but it does not apply to the sale of land or plots
without construction obligations. In areas like Dholera SIR, transactions involving
final plots (designated land parcels) do not fall under RERA's scope. Similarly,
agricultural land, industrial land, and other specific land transactions may not come
under its jurisdiction.
Understanding these distinctions helps buyers and investors make informed decisions
based on the nature of their real estate dealings.
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