Women transpire as leading Real estate buyers Latest News

Owning a house is no more a man's dream. Today's women share the same priorities as men and one of them is buying a house. An increasing number of women, especially in urban areas, wish to become homeowners and look forward to investing in property. As a result, they have been driving the Indian residential real estate market like never before. According to a research study, 77 percent of women buy a house for end-use, while 23 percent buy it for Investment purpose.

WOMEN MARCHING AHEAD 
The millennial women are progressive with most of them being financially Independent. This has led to a distinct shift In their investment preferences. Earlier Gold and fixed deposits were the primary investment choices for Indian women; however, real estate now rides high In their Investment portfolio. Women are emerging as an important home buyer segment In India; hence marketers and developers must re-strategise their business approach to include them as a major target audience," says Anuj Puri, chairman of a property consultant firm. "The rapid increase in women homebuyers across the country has further prompted the government to give them added benefits. To empower women of low-Income segment as per the Housing for All by 2022 mission, the government has also made it mandatory for them to be either co-owners or sole owners of affordable homes," he adds

Several factors have contributed to the rise In the number of women becoming homebuyers. However, the main two factors are to enjoy lifetime security and their high disposable income. In addition to this, many women buy property either to diversify their investment portfolios or to avail multiple benefits exclusively announced for them. Furthermore, reduced home loan Interest rates by some banks, and reduced stamp duty and registration charges have encouraged them to take the leap Into the realty market. As per research reports, over 47 percent women property buyers are in the age group of 25-35 years, followed by 41 percent In 35-45 years.

MOST PREFERRED CHOICE
Trends reveal that women are buying homes in all categories, though demand for the luxury segment is low on their wish list. Most women prefer to buy a house in gated communities or townships that are in safe and enabled areas. They want their house to be near the workplace, hospitals, shopping, and entertainment areas. Moreover, there is a high demand in areas which still have sufficient growth potential, as price appreciation is an important factor for them as well.

"Many women look for flats that are in good and safe locations. I believe that it is more to safeguard the future that compels women to own property. They are well versed with the legal requirements while purchasing property, housing rates, and other terms and conditions." says Mukesh Shah, a real estate agent.
Most prospective Women homebuyers prefer mid-segment ready-to-move-In houses of the budget range between Rs 45 lakh and Rs 90 lakh from good and reputed developers.

SOURCE: MUMBAI MIRROR