India’s Women Homebuyers Shatter Records: 1.29 Lakh Deals Sealed in 2024

Women homebuyers in India have reached a significant milestone by registering 1.29 lakh residential transactions in 2024, reflecting a remarkable 14% rise from the previous year. This surge outperforms the 11% increase seen among male buyers during the same period. Experts see these numbers as a testament to women’s growing confidence and influence in the country’s real estate market.

Technology And Government Incentives: A Pivotal Role In Assisting Women Homebuyers

Technology has also played a crucial role in driving this positive shift. Online portals, such as PropVR, let buyers easily explore different properties, compare prices, and narrow down choices. Virtual tours, mortgage calculators, and digital payment systems streamline the entire process, giving women the autonomy to handle complex financial decisions. Social media communities and fintech innovations have further raised awareness about homeownership while reducing barriers to entry.

The uptick can be attributed to government incentives, financial support, and digital breakthroughs that simplify homebuying. Many states provide stamp duty concessions ranging from 1-3% for female buyers, alongside a further 0.5-1% reduction in registration charges. Leading lenders are also offering an extra 0.05% cut in home loan interest rates for women, on top of tax benefits under Sections 80C and 80EE. These measures combine to make purchasing property far more affordable for women, thus fueling their rising numbers in the real estate sector.

Women Are Reshaping the Real Estate Market

“As women gain greater empowerment through education, workforce participation, and financial independence, they are emerging as formidable decision-makers and influential consumers across industries – real estate being no exception. 

Our data reinforces this ongoing shift: in 2024, residential transactions across top cities with women as sole owners grew by 14% annually, outpacing the 11% growth seen among sole male buyers,” quoted Kanika Gupta Shori, COO and Founder of Square Yards.

“Women homebuyers are emerging as a transformative force in the property markets, propelled by increasing workforce participation and supportive government initiatives. The numbers speak volumes – this year alone, 1.29 lakh residential transactions were registered under sole women homebuyers. Underscoring this trend, women make up close to 53% of our clientele as sole or joint homebuyers on our platform,” said Tanuj Shori, CEO and Founder of Square Yards.

Future Homeownership For Women In India

With growing awareness and continued policy support, women are expected to lead the next expansion phase in India’s real estate sector. As they gain more financial independence, their stake in the property market will likely climb even higher. The ongoing rise in female homeownership promotes diversity and contributes to a stronger and more inclusive housing landscape in the country.

Read more through the links below to uncover the key trends and market leaders driving this growth:

Hindustan Times: https://bit.ly/3Fb7PAj