According to a recent survey by real estate consultant Anarock, at least 65 per cent of women homebuyers now prefer to invest in real estate, followed by 20 per cent favouring the stock markets. Just 8 per cent of women respondents favour gold and 7 per cent prefer FDs.

A day after the International Women’s Day celebration, the Maharashtra Government in their budget for 2023-24, offered one per cent discount in stamp duty for women homebuyers. This move is expected to make homebuying cheaper for women in the state.

Here are few comments from real estate experts on the 1% concession in stamp duty for women home-buyers offered by Maharashtra Government in the State Budget 2023-24:

Manoj Patwal, Founder and MD, BetterServ Ventures Private Limited
“Women have long been recognised as an important part of the decision-making when it comes to buying a home. Today, Women are independent, empowered, educated and employed. The state acknowledging this and making way for women to be more empowered is a great move in the right direction. The announcement in the State budget on reduction in stamp duty for women homebuyers has come as a perfect celebration for Women’s Day which will encourage them to invest in real estate.”

Pritam Chivukula, Co-Founder & Director, Tridhaatu Realty and Treasurer, CREDAI MCHI
“Women of today are empowered and play an important role in the home buying process. Women home buyers are increasing and constitute a sizable segment of home buyers in the housing sector. The government on its part is encouraging them by offering a range of benefits. The 1% discount in stamp duty for women by the State Government is a welcome move just a day after Women’s Day. This will encourage the women homebuyers to buy their dream home.”

Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory “We commend the Maharashtra Government for their decision to offer a 1% discount on stamp duty for women home buyers. This proactive step towards empowering women homebuyers and making home ownership more affordable for them. We believe that this move will not only encourage more women to invest in real estate but also provide a boost to the overall real estate sector. It will create a positive impact on the economy by increasing the demand for housing and contributing towards the growth of the industry. We look forward to seeing the positive impact of this initiative on the real estate market and the economy as a whole.”

Also Read: Positive Buyer Sentiment to Drive Real Estate Demand in Delhi-NCR

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In the last year’s state budget women homebuyers were allowed to avail a concession of 1% stamp duty. So in Mumbai the stamp duty which is at 6% during a home sale registration, a women homebuyer would pay only 5%. But this concession was subject to certain terms and condition.

On Thursday, Devendra Fadnavis delivered the budget of the state and made a very important announcement that will benefit the women homebuyers.

The budget speech of Fadnavis stated that, women will be given 50 per cent. discount on ticket fares in State Transport Corporation buses. Also a woman buyer has been given a one per cent concession in stamp duty for the purchase of a residential unit. As per the existing condition, a woman cannot sell a residential unit to a male buyer for a period of 15 years. The government has said that this condition will be relaxed.

This will enable more women to buy homes as, many earlier feared that if they bought a home availing this discount they would not be able to sell the homes for a decade and half.

However, now this condition has been relaxed and from April 1, women homebuyers can avail the discount and at the same time not fear that they will not be able to sell their own homes when they need to.

Also Read: Rs 45-90 Lakh ‘Sweet Spot’ for 36% Women Homebuyers

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