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The number of women homebuyers is steadily rising, with 1.29 lakh residential transactions registered solely by women in 2024--a 14 per cent increase from the previous year across top cities, according to a report by Square Yards.
In comparison, male homebuyers saw an 11 per cent growth during the same period, added the report. According to Square Yards' report 'Key Holders of Change - Women Driving Real Estate Growth and Transformation' in 2024, total residential transactions registered with IGR across key cities--Mumbai, Navi Mumbai, Thane, Pune, Bengaluru, Hyderabad, Noida, Greater Noida, and Ghaziabad--reached 5.77 lakh, reflecting a 4 per cent increase from 5.56 lakh in 2023. As the report, residential transactions by sole women buyers grew by 14 per cent year-on-year, reaching 1.29 lakh transactions, up from 1.14 lakh. This pushed their share in total residential transactions to 22 per cent in 2024 from 20 per cent in 2023. In contrast, transactions by sole male buyers rose by 11 per cent, from 1.96 lakh to 2.18 lakh. Joint ownership (male + female) transactions declined by 7 per cent during the same period but remained the dominant category, accounting for 40 per cent of total registered residential transactions. Kanika Gupta Shori, COO and Founder, Square Yards said, "As women gain greater empowerment through education, workforce participation, and financial independence, they are emerging as formidable decision-makers and influential consumers across industries--real estate being no exception." "It's inspiring to see women homebuyers grow from strength to strength each year. While there is still a long way to go, the current momentum speaks volumes, as women continue to emerge as a dominant force in homeownership, securing their futures with confidence," she added Insights from Square Yards' report reveal that homeownership sentiments among women are at an all-time high. The analysis of property registration documents shows a 14 per cent growth in female buyers in 2024 annually, and a 11 per cent growth annually during same period among male buyers. Joint ownership (male+female) registrations witnessed an 7 per cent annual drop. The rise in female homeownership is being propelled by a combination of government incentives, financial benefits, and digital advancements, as per the report. Several state governments offer stamp duty concessions of 1-3 per cent and reduced registration charges of 0.5-1 per cent for female buyers. Additionally, leading major lenders provide a 0.05 per cent reduction in home loan interest rates for women, the report said adding that tax benefits under Sections 80C and 80EE further enhance affordability, making property ownership more accessible. Notably, technology has also played a crucial role in this shift. Digital tools like online property search platforms, mortgage calculators, and budgeting applications enable women to make informed purchase decisions. Social media, community forums, fintech innovations, and digital payment systems have improved accessibility and financial inclusion, giving women greater autonomy in the home-buying process, the report added. (ANI)
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