Women are shaping new real estate trends like preference for bigger homes: Anarock

• The number of women buying properties as investments versus end use is also increasing.
  
• Women also prefer larger homes and ready-to-move-in properties — and are influencing real estate trends.
  
• The ₹45-90 lakh budget range is the 'sweet spot' for 36% of women home seekers.

Gold seems to have lost its shine, especially with women who want to buy it as an investment. They prefer real estate or even stocks, says a survey by property consultant Anarock.

In the Consumer Sentiment Survey, 65% women said that they prefer to invest in real estate while only 8% said that they prefer gold. On the other hand, 20% of women prefer to invest in the stock markets, while 7% prefer fixed deposits.

Investment vs end use

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 changed from the previous survey. It now stands at 77:23, where it was previously 82:18.

As per the survey, 83% women are looking at homes priced above ₹45 lakh. The ₹45-90 lakh budget range is the 'sweet spot' for 36% of women home seekers, and 27% prefer premium homes priced from ₹90 lakh to ₹1.5 crore.

Only 20% prefer luxury homes priced more than ₹1.5 crore, and affordable homes priced under ₹45 lakh are the least preferred.

"Over the last decade, women emerged as a major residential real estate buyer segment, especially in 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," said Santhosh Kumar, vice chairman of the Anarock group.

The survey also revealed that half of women respondents favour 3BHKs, while 33% favour 2BHKs, 10% are looking for 4BHKs.

Benefits for women home buyers

There are several 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’.

Many banks such as SBI, ICICI, and HDFC offer discounted home loan rates to women. 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.

SEE ALSO:
Holi Sale 2023: Deals on headphones, speakers, TVs, and smart devices on Amazon
Gen Zs & Millennials aid spiritual & wellness-driven tourism recovery in India