Houses are getting smaller and cheaper since 2016-2021. This is because the completion of smaller units is much faster. People nowadays press on timely deliveries and developers are under pressure to complete the projects on time.

A report by Anarock Property Consultants states that the average size of houses has reduced from 1,550 square feet (sqft) to 1,250 sq ft in the second half of the last decade. The role of local developers reduced and listed developers with a corporate brand image have contributed significantly in and dominated the real estate market.

The industry is also moving towards consolidation, professionalism and corporatisation, with established brands entering the sector and improvement in the quality of investors.

Prashant Solomon, the managing director of Chintels and spokesperson, Confederation of Real Estate Developers Associations of India (CREDAI) NCR, said that in the past five years, Housing is becoming more end-user driven. “RERA (Real Estate Regulatory Authority) has changed the perspective of developers and there is more accountability and transparency in project funding, development and delivery timelines. Home loan culture has reduced the involvement of speculation,” says Prashant Solomon, the managing director of Chintels and spokesperson, Confederation of Real Estate Developer’s Associations of India (CREDAI) NCR. Real estate markets across the Delhi-NCR are witnessing this major shift from being extremely unorganized and overpriced to now being a hub of new affordable opportunities. This trend is likely to continue and bring in new opportunities for the buyers and the developers. The previous trends are reversing. In fact, the industry has come a long way from them and there are still more shifts to come.