– Women’s role in decisions on real estate purchases increases
India’s real estate sector has been predominantly male-dominated for the past few decades. Men generally play a decision-making role in property transactions. Social norms, traditions, and customs have restricted women to second place in real estate purchases. However, these conditions are changing now. This has changed significantly in the last decade. Currently, women constitute 33 percent of the country’s workforce. Many of them are playing a key role in the real estate sector as promoters and house buyers. In fact, a person’s financial portfolio plays a key role in owning a home. Women have long been recognised as key decision-makers in home buying. However, they are only now transitioning into primary ownership.
Between 2020 and 2023, the Magic Bricks platform recorded a 16 percent increase in female buyers. Their involvement is gradually increasing, especially in metropolitan areas. In cities like Chennai, Thane, and Bengaluru, 35 percent of Magic Bricks customers are women showing interest in property ownership. From 2020 onwards, areas like Navi Mumbai have seen a significant increase in interest among women in real estate. Several factors have contributed to the rise in female home buyers in the country. Economic empowerment, education, and changing societal attitudes towards gender equality have encouraged women to take control of their financial future and make independent decisions regarding property ownership. Besides, government programmes like lower stamp duty, tax benefits, and lower home loan rates have also encouraged women to own homes.
* Developers are also focusing on the specific needs of female buyers. The top priority is being taken into consideration regarding the layout and design of the house, along with providing security and social infrastructure. Many developers are offering attractive discounts and incentives for women. Technology is also helping women in their decision to buy a home. With the availability of online flat forms that make it easy to search for a property, compare it with other properties, and make a buying decision, women are able to make decisions regardless of their experience in the real estate sector.
