In recent years, the real estate market in India has seen significant changes in all dimensions, from developers to residents, the expectations have increased all across the market.  Even the demographics of home buyers have changed significantly. The contribution of women in the real estate market has significantly increased due to the rise in their working community, new societal norms, and government policies for females. As women become more financially independent and dream of having their own home, they must understand all the benefits and advantages that they can get as female home buyers. Let's read about the exclusive advantages for women home buyers have in India, that a woman in India can leverage in their journey to home ownership.

Special Housing Loans for Women

One of the major benefits that women get while buying a new home is easy financial access from banks. Many banks and NBFCs offer home loans that are specifically for women only, often at lower rates than for men. This not only encourages women to buy property but also recognizes their important role in making financial decisions. By taking advantage of these loans, women can save a good amount over time, making it easier and cheaper to own a home.

Tax Benefits for Women

Women first-time home buyers in India can take advantage of some great tax benefits when it comes to home loans. For example, they can deduct both the principal and interest payments on their loans from their taxable income under Section 80C of the Income Tax Act.  This can lighten the financial load and make homeownership more affordable. If a property is registered in a woman’s name, she can claim up to INR 2 lakh in interest deductions under Section 24(b). These tax benefits and lower interest rates help ease the financial burden on women and encourage them to save more.

Empowering Women Home Buyers

For anyone, buying a home is a major achievement, but for women, it represents something even more special pride and independence. Having a home brings a sense of security and stability, and it can enhance their confidence in the community. A home also gives responsibilities and confidence to make the choices that will lead to a brighter future.

Rising Community of Women Home Buyers

The real estate world is finally catching on to the fact that more women are buying homes than ever before. As their numbers grow, there are more chances for networking, support groups, and events tailored to them. Whether it’s property expos or investment workshops, these gatherings allow women to connect, share experiences, and learn from one another. This sense of community makes the whole home-buying journey more enjoyable and helps foster a feeling of belonging.

Strong Negotiation Skills

Women are often praised for their empathy and negotiation skills, which can be helpful in the home-buying process. These traits enable them to secure better deals and terms, making sure they get the best prices. With these strengths, women can face the challenges of the real estate market head-on and make informed choices.

Encouraging Government Policies

The government of India has put several initiatives in place to make it easier for women to achieve homeownership. Major schemes like Pradhan Mantri Awas Yojana, lower stamp duty and registration charges, Credit Linked Subsidy Scheme, and other women reservation schemes, promote buying property in women's name.

Pradhan Mantri Awas Yojana (PMAY):

This flagship housing scheme provides subsidies for women purchasing homes. Under PMAY, women can get a subsidy of 6.5% on home loans of up to INR 2.67 lakh. Plus, if a woman is the sole owner of the property, she can enjoy even more benefits, encouraging greater participation in homeownership.

Credit Linked Subsidy Scheme (CLSS):

As part of PMAY, this scheme provides interest subsidies on home loans for economically weaker sections and lower- to middle-income groups, especially for women. This makes it easier for them to afford a home.

Women’s Reservation in Housing Schemes:

Many state governments have introduced policies that mandate a percentage of housing units to be reserved for women, encouraging their active participation in the housing market.

National Housing Bank (NHB) Schemes:

The NHB has rolled out several initiatives to improve women’s access to housing finance. By teaming up with banks, they’re promoting special schemes tailored just for women, making sure that financial products meet their specific needs.

 

Work-from-Home Opportunities

Since the pandemic, the rise of work-from-home culture has rapidly grown. This new work culture has changed the way people think about owning a home. Now women professionals have the freedom to choose a home that ticks all the boxes in their checklist without worrying about long commutes. This has got more people interested in suburban and semi-urban areas, where homes are generally more affordable and the quality of life is often better. For women, these options make it easier to find homes that suit their personal and professional goals.

Safety and Security First

Finding a safe and secure environment is the first thing that a woman looks for. Nowadays safety awareness has increased and developers are now building more secure places to live. Features like better lighting, gated communities, and security systems have become basic amenities in any development. Concentrating on the safety features, developers are now addressing the needs of female buyers, making them feel more comfortable in their homes.

Rewards on Home Ownership

Real estate is one of the oldest yet golden opportunities for an investment, and for women with multiple benefits is a great asset to own, with high price appreciation over a period of time. Investing in property can generate a regular income and also contribute to long-term financial security. Making women more confident about their decisions and future planning.

Leading the Way and Inspiring Change

Due to the rise in the working population of women, their investing capacity has also increased. Leaving behind the traditional approach of men owning a home, women are on the path to buying a home in their name while inspiring others. Women buying a home indicates their financial independence and confidence. Encouraging younger generations to chase their dreams of owning a home, while building a culture where women are seen as leaders in multiple industries including real estate. 

Steps Toward Empowerment

The journey of buying a home in India can be quite challenging, but for women, the rewards are significant and life-changing. With financial support and the empowerment that comes from owning a home, the environment is becoming more encouraging. As women break down barriers and redefine traditional roles, they’re showing that they’re not just participants in the real estate market but leaders who are shaping its future. 

In this era, it’s important for women to make the most of the resources available to them, ask for advice, and confidently pursue their journey to homeownership. We at Keystone Real Estate Advisory Pvt. Ltd., help you to navigate the market, solve all your queries, and show you the perfect homes that fit your budget and meet your needs. We are just a call away to join your journey of home buying.