The survey finds that while real estate has gained favor with women investors, gold has lost its luster. At least 65% of women now prefer investing in real estate, followed by 20% in favor of the stock market. 8% of female respondents favor gold, 7% prefer FDs.
The survey also found that gold lost its luster as real estate gained favor from women investors. At least 65% of women now prefer to invest in real estate. Of the remaining 20% favors the stock market. 8% of the respondents women favor gold. 7% women prefer Fixed Deposits or FDs.
“Women have emerged as an important segment of residential real estate buyers in the last ten years. Especially in urban centers. Their preferences are shaping new trends and they are ready to move from the big houses. They know exactly what is needed and buy properties to specific budgets. Like the millennials, their preferences now influence the supply that developers bring to the market,” says Santosh Kumar, Vice Chairman, Anarock Group.
More women are now buying properties for investment. According to the survey, the proportion of women buying property for final use and investment has changed from the previous survey. Earlier it was 82:18 and now it is 77:23. Out of a total of 5,500 participants in the survey, 50% of the respondents were women. More than 80 percent of them think now is the right time to buy a home.
There are many benefits that Indian women can avail by purchasing and registering properties in their name.
- Various government policies support and encourage home ownership by women in India. For example, to get houses under Pradhan Mantri Awas Yojana (PMAY), the government’s flagship scheme introduced in 2015, houses must be registered in the name of a woman or co-owned by a woman. This scheme was introduced to empower women from low income groups.
- Low stamp duty is another advantage enjoyed by women homebuyers. Although there are differences from state to state, stamp duty charges are lower if the property is registered in the name of a woman. This exemption varies from 1-2% across states. And rates can vary even within a particular state based on the classification of areas as urban and rural. For example, the states of Delhi, UP, Rajasthan, Punjab and Haryana provide stamp duty exemption for women homebuyers.
- Many banks like SBI, ICICI, HDFC offer concessional home loan rates to women as compared to men. It varies from bank to bank and varies by around 0.25%.
- To get some tax benefits, a woman can become a joint owner of a property with her husband and if they have a separate source of income, both of them can claim tax deductions individually.
Read Latest Business News and Malayalam News