Women Emerging as Key Homebuyers in India: Trends, Challenges, and Opportunities


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    A significant shift is underway in the Indian real estate sector, with women increasingly becoming key homebuyers. This trend, attributed to various factors, is expected to continue in 2024 and beyond, indicating a paradigm shift in home buying dynamics.

    Financial Incentives Boost Women Homeownership

    • Special concessions: Financial institutions are offering attractive interest rate reductions of 0.05% to 0.10% on home loans for women borrowers.
    • Reduced stamp duty: Regional benefits include discounts of approximately 1% – 2% on stamp duty charges for women, promoting financial inclusivity and encouraging women’s participation in the real estate market.

    Empowering Women Through Financial Independence

    • Breaking barriers: Initiatives like lower interest rates and stamp duty reductions aim to break down gender bias and empower women to make investment decisions in real estate.
    • Financial literacy: Providing financial education can further empower women by equipping them with the knowledge and confidence to navigate the complexities of the real estate market.

    Challenges and Opportunities for Women Homebuyers

    • Gender bias: Despite being considered low-risk borrowers, women face challenges like societal biases and limited awareness about financial options.
    • Safety concerns: Addressing safety concerns regarding property visits and transactions can further encourage women’s participation in the real estate market.

    Government Initiatives Support Women Homeownership

    • Pradhan Mantri Awas Yojana (PMAY): This government scheme provides subsidies and reduced stamp duty charges, making property acquisition more accessible for women.
    • State-specific initiatives: Various states offer additional benefits like lower stamp duty rates and special concessions on home loans for women, further promoting women’s ownership.

    Young Women Driving Growth in Homeownership

    • Loan trends: An increase in loan applications from young women, particularly those below 30, is projected to grow by 50% – 60% in FY 2024, highlighting their growing role in the real estate market.
    • First-time homebuyers: A significant percentage of first-time home loan borrowers fall within the age group of 30 to 40 years, indicating a growing trend of young women taking ownership of their homes.

    Tax Benefits Encouraging Women Homebuyers

    • Tax deductions: Women are eligible for tax deductions on home loans, up to ₹1.5 lakh for sole ownership and equally eligible when jointly owned with a spouse. This incentivizes women to invest in real estate and build financial security.

    Projected Growth in Women Homeownership

    • CIBIL predicts: A 19% CAGR growth in women borrowers over the next five years, showcasing their increasing role in shaping the future of the Indian real estate landscape.

    Women are emerging as a powerful force in the Indian real estate market, claiming their place as key homebuyers. By addressing challenges and embracing opportunities, this trend promises a more empowered future for women and a more inclusive and dynamic real estate sector.

    (Source: Mint)

    Also Read: Government Initiative: Reviving Stalled Projects in Real Estate Sector


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