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Home becomes a preferred investment mode for women

More women are now looking at owning a home

More and more women are looking at buying a house as they become financially independent.

Home, in fact, is also the most preferred investment mode for most women.

A survey conducted by real estate major Anarock revealed that at least 82 per cent of women respondents are likely to buy a home for end-use while 18 per cent for investment. In contrast, 68 per cent men will buy a home for end use and 34 per cent for investment.

More importantly, over 70 per cent of women respondents consider this to be an ideal time to buy a property, the survey said, adding that affordability in the current context besides low home loan rates, which are at a 15-year low are the main drivers.

“The survey reveals that many Indian women now consider housing not just the bedrock of financial security but also essential to diversify their investment portfolios. 62 per cent of women respondents confirmed housing as their preferred asset class – even more than men. 54 per cent of men who participated in the survey preferred real estate above the other options – stock market, fixed deposits and gold.” Prashant Thakur, Director & Head – Research, Anarock Property Consultants said.

Of the total of 3,900 survey participants, 36 per cent of respondents were women.

Not just that. Various government policies including, flagship scheme Pradhan Mantri Awas Yojna (PMAY) launched in 2015 have also promoted women homeownership in India. For instance, to avail homes under the scheme, homes have to be mandatorily registered either in a woman’s name or with women as co-owners.

Lower stamp duty is another benefit that women enjoy while buying a property. Stamp duty charges are lower if property registration is executed in the name of a woman, although these charges vary from state to state. The exemption for women varies between 1-2 per cent across different states, the survey noted. That apart several banks such as Stata Bank of India (SBI), ICICI, HDFC among others also offer discounted home loan rates to women.