Revati Gaikar, Chief Officer of the Konkan Board, confirmed that this move will directly benefit eligible applicants and marks a crucial step towards fostering inclusive urban development. The revised sale price proposal for these flats, located at Mouje Shirgaon and Mouje Khoni, received approval from Sanjeev Jaiswal (I.A.S.), Vice President and Chief Executive Officer of MHADA.

Under the revised pricing structure, 5,236 flats at Mouje Shirgaon will see a reduction of ₹1,43,404 per flat, bringing the new sale price down to ₹19,28,742. Similarly, the price for 1,012 flats at Khoni has been decreased by ₹1,01,800 per dwelling unit, making the new cost per flat ₹19,11,700.

This reduction is anticipated to make home ownership significantly more accessible for citizens from economically weaker sections, addressing a critical need for affordable housing options in the Mumbai Metropolitan Region. The move aligns with the government’s broader commitment to providing housing for all and is expected to generate renewed interest in these Kalyan properties.

Also Read: MHADA-lottery-page-1

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Growing Influence of Women in Real Estate

The report, titled ‘Key Holders of Change – Women Driving Real Estate Growth and Transformation’, analyzed data from major cities, including Mumbai, Navi Mumbai, Thane, Pune, Bengaluru, Hyderabad, Noida, Greater Noida, and Ghaziabad. The total number of residential transactions across these cities reached 5.77 lakh in 2024, reflecting a 4% increase from 5.56 lakh in 2023.

Notably, women buyers accounted for 22% of the total residential transactions in 2024, up from 20% in 2023. Meanwhile, sole male buyers saw an 11% increase in transactions, rising from 1.96 lakh in 2023 to 2.18 lakh in 2024. However, joint ownership transactions (male + female) declined by 7%, though they remained the largest segment, representing 40% of the total transactions.

Breakdown of Residential Transactions by Ownership

(Source: IGR, Square Yards)

Women Gaining Confidence in Homeownership

Commenting on the trend, Kanika Gupta Shori, COO and Founder, Square Yards, stated, “As women gain greater empowerment through education, workforce participation, and financial independence, they are emerging as formidable decision-makers in real estate. The 14% annual rise in residential transactions by women in 2024 underscores this shift. While there is still a long way to go, the increasing number of women homeowners signals a stronger, more inclusive housing market.”

Tanuj Shori, CEO and Founder, Square Yards, further emphasized, “Women homebuyers are a transformative force in real estate, bolstered by rising workforce participation and supportive government policies. This year alone, 1.29 lakh homes were registered under sole women buyers. Notably, women constitute 53% of our clientele as sole or joint homebuyers. By fostering opportunities for women, we aim to create a more inclusive and progressive real estate ecosystem.”

Government Policies and Financial Incentives Fueling Growth

Several government schemes and financial benefits are enabling women to become homeowners more easily. Key initiatives include:

• Pradhan Mantri Awas Yojana (PMAY): Requires at least one woman as a registered property owner.
• Stamp Duty Concessions: Many states, including Maharashtra and Uttar Pradesh, offer 1–3% lower stamp duty and 0.5–1% reduced registration charges for female buyers.
• Home Loan Interest Rate Discounts: Major lenders provide a 0.05% lower interest rate for home loans where a woman is the primary applicant.
• Tax Benefits: Women homebuyers can avail deductions under Sections 80C, 80EE, and 24b, providing up to ₹1.5 lakh relief on the principal amount and ₹2 lakh on interest payments.

Technology Driving Women’s Homeownership

Digital advancements have played a crucial role in this shift, making property ownership more accessible for women. Online property search platforms, mortgage calculators, digital payment systems, and fintech innovations have enhanced financial inclusion. Social media and community forums have further empowered women by providing knowledge and support networks, enabling informed decision-making.

Conclusion

The rising trend of women homebuyers reflects a broader societal and economic transformation. With increasing financial independence, favorable government policies, and the adoption of digital tools, women are set to play a more dominant role in India’s real estate sector. As homeownership sentiments among women reach an all-time high, this trend is expected to continue growing in the years to come.

Also Read: Benefits of being a Woman Home Buyer in India

The post Women Homebuyers on the Rise: 1.29 Lakh Residential Transactions Recorded in 2024, Growing 14% Annually appeared first on Square Feat India.

The event will be honored by the presence of notable dignitaries, including Maharashtra’s Chief Minister Eknath Shinde, Deputy Chief Minister Devendra Fadnavis, and Housing Minister Atul Save. This third edition of the forum is set to be a major highlight, offering a platform for discussing the latest trends and opportunities in the real estate sector.

Prashant Sharma, President of NAREDCO Maharashtra, expressed his excitement about the forum, emphasizing its importance in shaping the industry’s future. He noted that the event aims to address critical challenges and opportunities, including advocating for policy changes to support the real estate sector.

Dr. Samantak Das, Chief Economist and Head of Research and REIS at JLL India, highlighted Mumbai’s potential for growth, citing the completion of major infrastructure projects and the upcoming Navi Mumbai Airport as key drivers. He projected that Mumbai’s residential sales value will exceed INR 1.35 lakh crore in 2024, with a growth rate of around 6.8% annually, reaching over INR 2 lakh crore by 2030.

The forum will feature keynote speeches, panel discussions, and workshops on a variety of topics such as government policies affecting real estate, the diverse residential market, redevelopment challenges, real estate financing trends, and proposed amendments to RERA 2.0.

Participants will engage in sessions covering:

• Government Policies Driving Real Estate: MahaUrban Revolution@2047
• Opportunities Beyond Residential Real Estate
• Diversity in India’s Residential Market
• Challenges and Opportunities in Mumbai’s Redevelopment
• Trends in Real Estate Financing
• Amendments Needed in RERA 2.0

Recent reforms and initiatives have revitalized the Indian housing market, leading to record home sales and increased home ownership. Developers are calling for further reforms to enhance transparency and streamline the buying process.

The Real Estate Forum 2024 promises to be a pivotal event, offering a comprehensive platform for industry leaders to discuss and influence the future of the residential sector and beyond.

Also Read: Pune Real Estate Market Sees 50% Surge in Registered Transactions; Average Home Sales Value Hits Record

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