More Indian women are now financially empowered to buy their own homes than ever before. Factors such as lower stamp duty for properties registered in a woman’s name and special housing loan programs have made it easier for women to invest in real estate. According to the latest ANAROCK Consumer Sentiment Survey, a significant 78% of women homebuyers prefer to buy homes for end-use, while 22% do so for investment. This marks a shift from H2 2021, where the ratio stood at 74:26.
The survey, which had a total of 5,510 participants, also revealed that 61% of women see housing as their preferred investment asset class, compared to 64% in H2 2021. Approximately 16% prefer the stock market, and 14% choose gold. Women comprised a 50% share of the total survey participants.
3BHKs emerged as the most favored configuration among women respondents, with 57% preferring this option, followed by 29% opting for 2BHKs. Interestingly, 9% are seeking 4BHK homes or larger.
In terms of budget preferences, nearly 36% of women home seekers prefer mid-segment housing (priced between INR 45 – 90 lakhs), while 28% opt for premium homes priced between INR 90 lakhs and INR 1.5 Cr. A substantial 23% are interested in luxury homes priced >INR 1.5 Cr, with only 20% considering affordable homes priced <INR 45 lakhs.
Santhosh Kumar, Vice Chairman of ANAROCK Group, highlighted that while 24% of all polled home seekers prefer newly launched properties, only 15% of women respondents share this preference. Instead, a significant 71% of women are looking for properties that are either ready or will be completed within the next six months, indicating a strong preference for immediate self-use.
The survey results reflect a broader trend of women empowerment in India, with various measures being taken by the government for their upliftment. The recent passing of the Women’s Reservation Bill, 2023 in Parliament and the government’s emphasis on women’s homeownership through schemes like PMAY have contributed to this trend. Additionally, the increase in single women living alone or in nuclear families has also led to more women seeking to buy their own homes for safety and independence.
In conclusion, the ANAROCK survey highlights the increasing trend of Indian women buying homes for self-use, indicating a shift towards financial independence and empowerment.
