Women emerge as key home buyers after COVID-19, 71 per cent want ready homes

NEW DELHI:  Most Indian women now prefer investment in real estate over investment in gold, stocks or even fixed deposits, according to a recent survey by real estate consultant ANAROCK.

The survey notes that women’s preference for real estate has risen post Covid-19 – from 57 per cent votes in the pre-pandemic survey to 62 per cent in the current edition.

“The survey reveals that many Indian women now consider housing not just the bedrock of financial security but also essential to diversify their investment portfolios. As many as 62 per cent of women respondents confirmed housing as their preferred asset class - even more than men,” said Prashant Thakur, Director & Head – Research, ANAROCK Property Consultants.

Of the total of 3,900 survey participants, 36 per cent of respondents were women. About 82 per cent surveyed women respondents plan to buy a home for their personal use, and 18 per cent for investments. Among men respondents, the end-use to investment ratio was 68:32. 

The survey added that over 70 per cent of women consider present times to be an ideal time to buy a property.

At least 66 per cent of women respondent home seekers will buy within affordable & mid-segment housing (less than Rs 90 lakh budget).

Owing to record drop in interest rate and reduction in stamp duty and circle rates in select cities, demand for housing units and commercial spaces have gone up significantly in recent months.

In February 2021 alone, properties worth Rs 11,745 crore were sold in Mumbai, up by 34 per cent year-on-year, noted Propstack. 

In the current times, various government policies support women homeownership.

For instance, to avail homes under the government’s flagship scheme Pradhan Mantri Awas Yojna (PMAY), homes have to be mandatorily registered either in a woman’s name or with women as co-owners.