A house as an asset could function as a financial safety net, an income source, or even a long-term investment. For women, it is an important step towards financial independence and empowerment. Historically, real estate has been a male-dominated industry, but more and more women are subscribing to the benefits of investing in property.

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This International Women's Day, take a look at the advantages women get for investing in real estate.

Lower Home Loan Rates

In India, women get a concession on the interest rate on home loans. This concession can range from 0.05% to 0.1%. Although this may seem insignificant, it adds up to a lot since home loans in India can last from 15 to 25 years. A lower interest rate reduces the Equated Monthly Instalment (EMI), allowing women to save more. Some banks also offer lucrative add-on offers for home loans. This can include gold coins, jewellery vouchers, prestigious credit cards, or even free holidays.

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Lower Stamp Duty

Women get a reduction of 1 percent to 2 percent in stamp duty in some states. This is based on the government’s initiative to encourage women to own property. On a house worth Rs 1 crore, this could mean savings of up to Rs 1-2 lakh. States like Delhi, Maharashtra, UP, Rajasthan, Punjab, and Haryana offer relaxation in stamp duty for women buyers.

Tax Benefits

Women borrowers also receive income tax benefits on their home loan repayments. According to Mint, when women become co-borrowers on home loans, they can claim a deduction of up to Rs 1.5 lakh (under Section 80C of the Income Tax Act) on the principal amount of the home loan along with their spouses. Under Section 24 of the same act, they can claim a deduction of up to Rs 2 lakh on the interest paid on the home loan. These benefits can help women lessen the overall cost of owning a property for the entire family.

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Government Schemes

Other government policies in India promote women's homeownership, too. The Pradhan Mantri Awas Yojana (PMAY), for instance, mandates that homes must be registered in a woman's name or with a woman as co-owner to qualify for the program. This initiative aims to empower women from the lower-income segments of society.

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Influence Trends

According to a recent Anarock survey, women are actively looking to invest in real estate over traditional items such as gold. Santhosh Kumar, the Vice Chairman of Anarock Group, said that over the past decade, women have emerged as a significant residential real estate buyer segment. This is prominently noticed in urban centres. Women's preferences– from bigger homes and ready-to-move properties to specific budgets– are also distinctly shaping newer trends.

The collective interests of women home buyers now influence the supply developers put on the market.

(Edited by : Sudarsanan Mani)