Sustained demand for larger homes

Kolkata has predominantly been a 2BHK market, opting for smaller, compact homes. However, these days, particularly in the post-pandemic upturn, big is very much in and comfort and luxury are the buzz words. With the market buoyed by an upbeat economy, stable political environment and an urge to stick together as families post-Covid, more and more home buyers are seeking out 3, even 4BHK units. Average flat sizes pan-India have increased by around 7 to 8% on an average over the past five years, with Kolkata registering a healthy increase of over 40%, only third after Hyderabad and Delhi-NCR. This is a defined shift in consumer behaviour pattern and has forced the realty fraternity to rush back to the drawing board as they scramble to leverage the tailwinds. The sentiment is clearly shifting towards investing in larger homes and moving away from the rental market, having a massive snowball effect on overall economic growth. I would expect this trend to continue in the foreseeable future.