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

The post Maharashtra State Budget 2023-24: Women Homebuyers to benefit appeared first on Square Feat India.

By Varun Singh

What do women homebuyers prefer when it comes to real estate buying?

Here we will answer the question but also would tell you that women form a majority part of real estate buyers.

States like Maharashtra even have discounts in stamp duty for women homebuyers.

Women are emerging in greater numbers as key home purchase decision-makers. Over the years, an increasing number of Indian women have been making independent and individual investments in the real estate market. According to the latest ANAROCK Consumer Sentiment Survey, real estate is now the preferred investment asset class for 64% of women respondents. It was 62% in the last study (H2 2020) and 57% in the pre-Covid survey (H2 2019).

3BHKs are the most favoured configurations for approx. 41% women respondents, followed by 36% women home seekers voting for 2BHKs. At least 11% are looking for 4BHK homes or larger.

Anuj Puri, Chairman – ANAROCK Group, says, “While traditionally, women have always been an integral part Indian families’ homebuying process, the trend of women as independent buyers and investors with distinct choices is a more recent phenomenon. Women’s affinity to housing purchase has increased markedly since the pandemic – from 57% votes in pre-COVID-19 survey to nearly 64% in the current edition. Now, we see that the pandemic has also influenced their property preferences.”

There has also been an increase in women looking at real estate from an investment perspective. Of total women respondents looking to buy homes, approx. 26% declared investment their primary motivator, while 74% had an end-user perspective. Contrastingly, a year ago, the same survey showed an end-use vs. investment ratio of 82:18. Their strengthening investment sentiment is a clear indicator of women’s increasing financial independence.”

The survey indicates that over 38% of participating women home seekers prefer the city peripheries, while 30% will buy homes within the city limits. Only 11% are eyeing the city centres.

In budget categories, at least 67% of women home seekers will buy properties in the mid and premium segments (properties priced INR 45 lakh to INR 1.5 Cr.) Of this, approx. 34% are focusing on a budget range between INR 90 lakh to INR 1.5 Cr, followed by 33% preferring homes within the INR 45 lakh to INR 90 lakh budget bracket.

In the same survey last year, affordable and mid-segment homes priced within INR 90 lakh were the top pick of participating women home seekers, with nearly 66% voting for this budget range.

Moreover, there is a marginal rise of 2% in demand for ultra-luxury property priced >INR 2.5 Cr – from 5% in the H2 2020 survey to 7% in the current H2 2021 edition.

A very significant 79% of women respondents prefer either ready-to-move homes or properties to be completed within the next six months. Over 10% of women respondents are looking to buy properties in newly launched projects, while another 11% will purchase homes in projects scheduled for completion in more than one year.

• 36% of participating women homebuyers prefer 2BHKs – a clear preference trend for bigger spaces
• 38% of women buyers want to buy homes in city peripheries, 30% will buy within city limits
• End-use vs. investment ratio in the latest survey (H2 2021) is 74:26 (it was 82:18 in the year-ago survey) suggests improving investment sentiment
• 67% of respondent women home seekers will buy mid & premium segment housing (INR 45 lakh – INR 1.5 Cr)
• For 64% of women participating in the survey, Indian real estate is the preferred investment asset class; 62% in H2 2020 survey
• 79% of women respondents prefer ready homes or properties within 6 months’ completion

Ask Read: Which Maharaja has put his house on rent in Mumbai!

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