Survey finds 83% women look to buy properties priced above Rs 45 lakh
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.
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As per the survey, the ratio of women buying properties for end-use and investment has changed from the previous survey. (Representative/ Express file photo by Narendra Vaskar) At a time when housing sales have reached an all-time high, women are a key homebuyers’ segment, showed the Consumer Sentiment Survey published recently by Anarock. The survey also shows that as much as 83 per cent of the women respondents look to buy homes priced above Rs 45 lakh.
In February, Mumbai’s real estate market remained buoyant and the proof is the revenue collected in just one month — Rs 1,111 crore through conveyance deeds — against February 2022 when only Rs 615 crore was collected as per the data available with the Maharashtra government’s department of Registration and Stamps.
The survey findings revealed that properties in the Rs 45-90 lakh range are the ‘sweet spot’ for 36 per cent of women home seekers and 27 per cent prefer premium homes priced between Rs 90 lakh and Rs 1.5 crore. As much as 20 per cent prefer luxury homes priced above Rs 1.5 crore. Affordable homes priced under Rs 45 lakh are the least preferred.
Anarock is a private leading real estate consultancy firm. The survey also finds that gold has lost its sheen even as real estate has gained favour among women investors. 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.
Santhosh Kumar, Vice Chairman, Anarock Group, said, “Over the last decade, women have emerged as a major residential real estate buyers’ 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.”
As per the survey, the ratio of women buying properties for end-use and investment has changed 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 percent of the respondents were women and among them, more than 80 per cent consider the current time ideal for buying homes.
Moreover, there are various advantages available for women homebuyers like various government policies which promote women homeownership in India. For instance, to avail homes under the Pradhan Mantri Awas Yojna (PMAY) introduced in 2015, homes must be mandatorily registered either in a woman’s name or with a woman as the co-owner.
Lower stamp duty is another benefit women homebuyers enjoy. Stamp duty charges are lower if the property is registered in a woman’s name. In Maharashtra, the women homebuyers get a 1 per cent waiver in stamp duty.
Also, many banks offer discounted home loan rates to women as compared to men. Interestingly, women buyers can also avail certain tax benefits. A woman can 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.
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