More Indian women than ever before are financially empowered to buy their own homes. Lower stamp tax for properties registered in a woman’s name and special housing loan programmes have also made it easier for women to invest in real estate.

Santhosh Kumar, Vice Chairman – ANAROCK Group, says “Women today are no longer mere influencers in the homebuying process, but independent decision makers and are buying homes for either self-use or investment. According to the latest ANAROCK Consumer Sentiment Survey, a whopping 78% women homebuyers prefer to buy homes for end-use, and 22% will do so for investment. If we look back in H2 2021, this end-use vs investment ratio stood at 74:26.

The survey also finds that 61% women respondents see housing as the preferred investment asset class. Approx. 16% prefer the stock market, and 14% pick gold. Of the total of 5,510 survey participants, women comprised a 50% share.

Notably, 3BHKs are the most favoured configurations for a significant 57% women respondents, followed by 29% women home seekers voting for 2BHKs. Around 9% are looking for 4BHK homes or larger.

In terms of budget ranges, nearly 36% of respondent women home seekers prefer to buy mid-segment housing (priced INR 45 – 90 lakhs), followed by 28% preferring premium homes priced between INR 90 lakhs and INR 1.5 Cr. A significant 23% prefer to buy luxury homes priced >INR 1.5 Cr, and just 20% will settle for affordable homes priced <INR 45 lakhs.

“While the survey finds that 24% of all polled home seekers now prefer newly launched properties, a deep dive reveals that just 15% women respondents prefer homes in newly launched projects,” says Kumar. “A massive 71% will zero in on properties that are either ready or to be completed within the next six months. This clearly indicates that the majority are buying for immediate self-use.

Women empowerment has become a core topic in India in recent years, with various measures being taken by the government for their upliftment. The most recent was the passing of the Women’s Reservation Bill, 2023 in the Parliament. While the government has been prioritizing women’s homeownership via its flagship PMAY scheme, large numbers of independent urban women have also come to the market to buy homes.

A greater number of Indian women are buying their own homes because they want to feel safe and independent, and there are more single women living alone and in nuclear families.

Also Read: Hope you are not dealing with these Real Estate Agents

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At a time when housing sales have reached an all-time high, women are a key homebuyer segment. 83% women respondents in ANAROCK’s most recent Consumer Sentiment Survey looking at homes priced above INR 45 lakh. The INR 45 – 90 lakh budget range is the ‘sweet spot’ for 36% of women home seekers, and 27% prefer premium homes priced from INR 90 lakh to INR 1.5 Cr. 20% prefer luxury homes priced >INR 1.5 Cr. Affordable homes priced under INR 45 lakh are the least preferred.

The survey also finds that gold has lost its sheen even as real estate has gained favour for women investors. At least 65% women homebuyers now prefer to invest in real estate, followed by 20% favouring the stock markets. Just 8% of women respondents favour gold, and 7% prefer FDs.

Santhosh Kumar, Vice Chairman – ANAROCK Group, says, “Over the last decade, women have emerged as a major residential real estate buyer segment, especially in the urban centres. Their preferences are also distinctly shaping newer trends – from bigger homes, ready-to-move properties to specific budgets, they know exactly what they want. And like millennials, their preferences now influence the supply that developers put on the market.”

More women are now also buying property for investment. As per the survey, the ratio of women buying properties for end-use and investment has changes from the previous survey. It now stands at 77:23, where it was previously 82:18.

Of the total of 5,500 survey participants, 50% of respondents were women and among these, more than 80% consider the current time as ideal for buying homes.

Advantage – Women Homebuyers

There are many benefits that Indian women can avail by buying and registering properties in their names:

• Various government policies support and promote women homeownership in India. For instance, to avail homes under the government’s flagship scheme Pradhan Mantri Awas Yojna (PMAY) introduced in 2015, homes have to be mandatorily registered either in a woman’s name or with a woman as co-owner. This was done to empower women of the lower-income segments.
• Lower stamp duty is another benefit women homebuyers enjoy. Stamp duty charges are lower if the property is registered in a woman’s name, albeit with variations from state to state. The exemption varies from 1-2% across states, and may even vary within a particular state, based on the classification of regions as ‘urban’ and ‘rural’. For instance, Delhi, UP, Rajasthan, Punjab and Haryana offer a relaxation in stamp duty for women buyers.
• Many banks such as SBI, ICICI, and HDFC offer discounted home loan rates to women as compared to men. This again varies from bank to bank, with a difference of around 0.25%.
• To avail of certain tax benefits, a woman can also become the joint owner of a property with her husband and, if she has a separate source of income, both can claim tax deductions individually.

Source: ANAROCK Research

Also Read: NAREDCO FINANCE CONCLAVE 2023 TO ADDRESS REAL ESTATE INDUSTRY’S FINANCIAL NEEDS

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The Convention will have a diverse range of seminars with a focus on four distinct themes. The conversation will be based on Water Saving, Empowering Real Women in the Real World, Green Building & Sustainability, And Start-ups. It will spark lively debates about how the Real Estate Industry can successfully recycle WasteWater and transition to net zero water waste, as well as how the sector can provide sustainable, energy- and water-efficient solutions. It will also shed light on the essential components of gender integration, how society is moving in the direction of Empowering Women, Gender Pay Equity in the Real Estate Industry and Underrepresentation.

The Convention’s goal is to highlight the contributions and potential of women in real estate while also engaging in meaningful discussion about some crucial issues facing the sector, such as sustainability, environment conscious practices and industry-wide policy frameworks, and innovative technology in Real Estate Development.

The Themes for the Sessions will include: ways to go Jal Bachao Kal Bachao, Empowering Real Women in the Real World, Green Building & Sustainability and Entrepreneurial Mindset: Scale & Growth of Indian Start-up.

The convention will bring together executives from the public and private sectors as well as the management of NAREDCO and NAREDCO Mahi. Shri Parveen Jain, Chairman, NAREDCO; Dr. Niranjan Hiranandani, Vice Chairman, NAREDCO, Shri Rajan Bandelkar, President, NAREDCO; Dr. Ananta S. Raghuvanshi, President, NAREDCO Mahi will grace the occasion. Some well-known dignitaries and keynote speakers who will likely address the gathering are Mr. Gurmit Singh Arora, President, Indian Plumbing Association; Mr. Ramveer Tanwar, Pond Man of India; Mr. Sanjay Dutt, CEO, Tata Housing; Padmashri Popatraoji Pawar; Smt. Sampat Devi, Gulabi Gang and Mr. Kavindra Taliyan, Ex CEO, Atal Incubation Centre, NITI AAYOG and Member Steering Committee, Ministry of Communications. Professionals, service providers, and business owners from all across the country will also have the chance to network and gain from the sessions.

“Over the past decade, the Real Estate Industry has undergone substantial upheaval. The industry has changed from being mostly informal and unorganised to becoming more structured and organised. Some good talent, regardless of gender, has emerged as a result of the sector’s formalisation and consolidation. The entry of large corporations into the sector has also increased opportunities for professional women.This does not negate the fact that there are still areas of the Real Estate market where women find it difficult to get into. Therefore, it will be beneficial to see women in top positions in the Real Estate Sector since they will act as mentors and role models for the subsequent wave of female workers. Furthermore, women have acquired the trust of their peers, bosses, and clients in order to prove their worth in the real estate industry, or any other profession for that matter.” said Dr. Ananta S. Raghuvanshi, President, NAREDCO Mahi.

“Women have been breaking free from the constraints of a patriarchal society in recent years, reaching new heights in a variety of fields, including real estate. The fact that the industry is now much more organised and provides equal opportunity for everyone is one of the major paradigm shifts. Businesses are increasingly considering adopting a more inclusive workplace culture. Additionally, more and more women are ascending to executive roles in the Real Estate Sector, shattering the adage about the “glass ceiling.” Moving forward, we must maintain our focus and create ‘Policy Frameworks’ that can draw a broad workforce to real estate careers. To create a more diverse, equitable, and inclusive workforce, organisations must continue to prioritise Diversity, Equity, and Inclusion (DE&I) efforts.” Stated Rajan Bandelkar, President, NAREDCO.

The skill and ingenuity that Women possess has been well recognized, and women are building their repertoires in the Real Estate and various asset classes, as executives, promoters, architects, designers, developers, realtors, lawyers or consultants, among others.

The main goal of NAREDCO Mahi is to provide women leaders and business owners with a platform that will further enable inclusion, knowledge sharing, mentoring, and networking in order to advance the Real Estate and housing industries by empowering women to participate in the creation of National Policies, Programmes, and Fiscal Reforms. The mission of NAREDCO Mahiis to advance equality of opportunity and professional competence. A new wave of Female Entrepreneurs is emerging in the Real Estate Sector as more and more women actively participate in all facets of Real Estate Development, purchase, and sale.

Also Read: NAREDCO Property Expo at BKC from Sep 30 to Oct 2

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As India enters a new era of economic growth, the Indian real estate sector, contributing 6% to the national GDP, has become the country’s second-largest employer. However, Real estate in India has traditionally been male-dominated, with women playing a negligible role in it. Even for property buying decisions, they were in the past largely ignored or side-stepped and held no say or voice.

Current Scenario

Times are changing now. Women are currently not only participating in the realty sector but also playing a crucial role in its growth. Women are driving the Indian real estate sector to new heights, from property consultants, channel partners, and agents to leading multinational real estate development firms. The real estate industry has seen rapid growth as a result of more active female participation.

Women in the real estate: An advantage

As builders, they are leading in developing and constructing the property. As buyers, they are proving to be influential decision-makers, and as brokers, they are providing crucial support and consultancy to property buyers. Statistics show that women working in real estate bring a depth of understanding and confidence to connect to the end user. They are perceived as being more patient and easy to deal with and have more empathy than their male counterparts. Women employees tend to inspire greater trust and credibility for their firms.

Support from the Government

Industry organisations such as the Confederation of Real Estate Developers’ Associations of India (CREDAI) have made significant efforts to promote gender diversity and inclusivity in the sector. This can be seen in the fundamental changes made to the RERA-established regulatory mechanisms, which have resulted in greater transparency in the real estate sector. Furthermore, changes in the GST and other government policies have created a more professional environment, which has contributed to an increase in female participation in the sector.

The Road ahead

Women employees with skill and ambition in real estate have risen in ranks based on their merit and excellence due to their unwavering determination, focused hard work, and honed talent.  Firms are now allowing their female employees to plan and take pre-planned sabbaticals to recognise their performance.

The future will undoubtedly see the emerging need for women in the real estate sector and women taking the lead in many roles.

About the Author: Gunajn Goel, is Director, Goel Ganga Developments,

Note: Views expressed in this article solely belong to the author and do not represent the views that of SquareFeatIndia.

Also Read: Investment inflows in Indian realty touch USD3.6 bn during Jan-Sept 2022, up 18%

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By Manju Yagnik,

Women today are making their mark in different industries, so also in the world of real estate. Women have the innate qualities of managing any profession.

I believe that women carve a niche for themselves with their talent in whichever profession they choose to be in. If there is zest and commitment to do something, then no one can stop you. Indian real estate industry has grown by leaps and bounds since I entered the industry over three decades back.

Today, if I look at the industry and corporates, I see that women of today are breaking all the stereotypes and excelling across sectors and real estate is no different.

Indian real estate industry having seen only a few women in leadership positions primarily, is today seeing more participation of women.

The real estate industry has been pretty archaic for a long time and with the increasing participation of Women in Indian real estate as channel partners, sales heads, developers, architects, and marketing heads it’s getting easier.

We are all aware that Women, due to their multitasking ability to balance work and family, is the right choice for any industry along with real estate, owing to the nature of the business.

Women have become part of the mainstream when it comes to contributing to the economy be it at work or as a consumer. I believe that women play an important role in the home buying process as they can envisage the lifestyle and future they would be able to create at home with their children and hence, underestimating the role of a woman in the home buying decision is unwise.

This has played a catalyst’s role for the Indian real estate sector that is witnessing increased traction from women home buyers along with being part of the industry as well.  

For me, women engaged in the real estate industry is always an advantage since women have the qualities of empathy and persistence and help in building relationships needed for the business. Women’s more nurturing, more sensitive and patient approach towards client’s needs benefits organizations in many ways.

We have seen that the change in the socio-economic environment of the country has led to increased participation of women in areas be it education, employment, entrepreneurship, Defence, Medical, and business.

Manju Yagnik, Vice Chairperson, Nahar Group & Sr. Vice President, NAREDCO West

India of today is seeing an increasing number of women having established a path of their own to gain financial independence. With financial independence comes ownership of various asset classes and have started investing in real estate to own a home of their own.

With the sector moving towards maturity, we need to see more women taking on leadership roles in all segments of real estate development, along with increased participation in home buying. On this International Women’s Day, let’s celebrate the spirit of womanhood.

Also Read: What Does A Woman Homebuyer Want?

Note: Manju Yagnik is the Vice Chairperson, Nahar Group & Sr. Vice President, NAREDCO West. Views expressed in this piece solely belongs to the author.

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