It is time to take the leap from being homemakers to homeowners

By LODHA

Owning a home is an essential priority for each individual and an aspiration that one desires to achieve. In these crucial decisions of purchasing a home, women have long been recognized as key influencers and decision-makers.

With financial independence becoming pivotal, women are leveraging their home-making skills and venturing into home buying. Present-day women too aspire to own a home that ensures safety, security, well-being and evokes a sense of financial stability.

The key to building a sound financial portfolio starts by identifying the right assets that one should opt for investment. With the pandemic outbreak and a resultant change in the market landscape, real estate emerged as the most stable asset as compared to other asset classes.

Making it more lucrative, various government initiatives like stamp duty cut, the lowest home loan interest rate and unchanged repo rate have considerably boosted the sector. Understanding the long-term benefits of real estate and the pandemic re-instating the importance of home, women have come to the forefront as homebuyers.

A survey by ANAROCK Property Consultants states that 62 percent of women picked real estate as the preferred investment asset class compared to the stock market, fixed deposits, and gold.

Further giving an impetus, the Maharashtra government on March 8, 2021, announced a 1 percent concession on stamp duty over the current rates. According to the announcement, the government will grant a reduction in stamp duty if the transfer of property or registration of sale deed is in a woman's name.

In a time when women have started building assets on their own, this step comes in as the desired push to ensure their financial independence. A stamp duty cut, especially for women, will encourage many fence-sitters and make them confident enough to consider home buying.

Honing the art of safeguarding the entire family's well-being, home-buying decisions of women are largely influenced by safety, security, and accessibility aspects. Women homebuyers are portraying an inclination towards integrated developments with a community living experience that assures the overall well-being of the family.

For first-time women homebuyers, ready-to-move-in properties serve as the perfect solution that offers a factor of convenience, the backing of 'what you see is what you get and flexible payment plans, making it easier for them to consider this investment. Known for their well-thought decisions, the same survey by ANAROCK Property Consultants even mentions that 70 percent of women respondents consider the current time as ideal for buying a home.

With the changing times, women today look forward to educating themselves on financial inclusion, financial equality, and financial literacy. Through this favorable market scenario and the ongoing demand in the sector, real estate will only appreciate. This will, in turn, drive the nation's economic growth and ensure capital gains for every investor.

Modern-day women represent influential desirability to become financially independent and take decisions on their credibility and understanding. The housing sector being ideal, it is certainly the perfect time for women to take the leap from being homemakers to bread earners and now, proud homeowners.

- By, Raunika Malhotra, President, Marketing & Corporate Communications, Lodha Group

Published In - cnbctv18.com