Safe & secure, under a roof of  her own, writes Dr Niranjan Hiranandani

For many years, women homebuyers were the leading decision-makers but not the final one. With evolving womankind in the age of women empowerment, they are quickly gaining the status of ‘equal’ positioning with their financial independence from an economic perspective. From ambitious professionals to single women to self-employed new-age entrepreneurs, the idea of buying a house has gained traction. The migrating female professional populace is seriously considering making a real estate asset purchase for her own security and as a safe-bet investment. Given this bold and courageous mindset, there has been a gradual increase in the number of female homebuyers.

The Covid-19 crisis has shattered the way of living and especially, the attitude towards housing. The importance of living within one's own safe nest while battling any unprecedented crisis from the point of safety has resurfaced. The independent working woman has definitely realised the need to convert the aspiration of owning a house into a reality, by evaluating suitable properties across the country, especially in metro and metropolitan locations.

As India evolves through the calibrated restart of the economy, the woman buyer across urban India is opting for property, either to diversify her investment portfolio, or to take advantage of the various benefits which are exclusive to women homebuyers -- from taxation benefits to special, low home loan interest rates. Additional benefits from government and financial institutions, like the credit link subsidy to encourage the female homebuyers, go an extra mile to push the decision-making. All these external favourable factors, along with suitable market conditions to buy a house make it a good deal to grab.

The real estate industry accepts that women have become an important focal point for housing sales, definitely in metro cities and increasingly, in other urban realty markets. In the pre-Covid-19 scenario, women were considered significant ‘decision influencers’, which now, under the new normal in the post-Covid world has transformed into important stakeholder in home buying. In this post-Covid-19 world, we see the Indian working/business woman as perfectly capable of making her own decisions, and we see more of them taking what is arguably, the most important steps towards their independence — homeownership.

We see a new world, where an increasing number of women now consider owning a home reflected prominently in their investment portfolio. Obviously, owning a home is the strongest security anchor that Indian women have, as compared to other saving instruments, like jewellery or paper investments options, Bank FDs, insurance etc. Women definitely evaluate the value proposition when it comes to an investment choice, which offers dual benefits of steady monthly rental income and future capital appreciation -- in the long run, a win-win situation.

Residential realty across India has seen the rise of a new segment of home buyers - millennials who for a long time, opted to rent. In the ‘new normal’, they also have a reason to buy their own house, to combat any future unprecedented crisis. The affluent, single, working female in this segment, until recently a renter, would also like to make a choice and move. Going beyond buying just any property, new-age women have also realised the importance of living in a gated community, which offers safety, security, convenience, better lifestyle, must-have amenities in proximity, to ease the standard of living and gain value for money. As the ‘new normal’ becomes a reality, the woman homebuyer is quickly becoming the fastest growing new segment. The industry welcomes them and more power to them!

The author is Co-Founder & MD – Hiranandani Group and National President, NAREDCO

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