Female Homebuyers in Age of Women Empowerment

Dr Niranjan Hiranandani, Co Founder & MD – Hiranandani Group & National President – NAREDCO For many years, women homebuyers were the leading decision makers but not the final one. With evolving womankind in the age of women empowerment, they are quickly gaining the status of ‘Equal’ positioning with their financial independence from an economic perspective. From an ambitious working professional to single women to self-employed new age entrepreneurs, buying an owned house has gained traction. The migrating female professional populace on a serious note is considering making a real estate asset purchase for her own security and as a safe bet investment. With this bold and courageous mind-set, there has been a gradual increase in the female homebuyers. The Covid 19 pandemic crisis has shattered the way of living and attitude towards housing especially. The gaining importance of living within the owned safe nest has resurfaced to battle out any unprecedented crisis from the point of safety. The independent working woman has definitely realized the need to convert the aspiration of owning a house into a dream reality by evaluating suitable properties across the country, especially in metro and metropolitan locations. As India evolves through the calibrated re-start of the economy, the woman buyer across urban India opts for property either to diversify her investment portfolio or to take advantage of the various benefits which are exclusive to women home buyers of real estate. From taxation benefits exclusive to woman buyers to special low home loan interest rates. Additional benefits by the government and financial institutions like credit link subsidy to encourage the women home buyers goes an extra mile to push the decision making. All these external favourable factors along with suitable market conditions to buy a house make it a good deal to grab. The real estate industry accepts that women have become an important focal point for housing sales, definitely in metro cities and increasing in other urban realty markets. In Pre-COVID-19scenario, the women were considered as significant ‘decision influencers’, which now under new normal post Covid world shall transform into an important stakeholder in home buying. In the post COVID-019 world, we see the working Indian / business woman as perfectly capable of making her own decisions, and we see more of them taking what is arguably, the most important steps towards their independence — homeownership. We see a new world, where an increasing number of women now consider owning a home is reflected prominently in their investment portfolio. Obviously, owning a home is the strongest security anchor that Indian women have, as compared to other saving instruments like jewellery or paper investments options, Bank FD, insurance etc. Women definitely evaluate the value proposition when it comes to an investment choice which offers dual benefits of steady monthly rental income and future capital appreciation in the long run- a win-win situation. Residential realty across India has seen the rise of a new segment of home buyers- young Millennials which for a long period of time opted to stay on rent. In the ‘new normal’, they also have a reason to buy their own house to combat any future unprecedented crisis.  The affluent single working female in this segment till recently living on rent would also like to make a choice and shift. Going beyond just buying any property, the new age women have also realized  the importance of living in a gated community, which offers safety, security, convenience, better lifestyle, must-have amenities in close proximity to ease the standard of living and gain value for money. As the ‘new normal’ becomes a reality the woman home buyers is quickly becoming the fastest growing new segment. Industry welcomes them with all and more power to them!