Women, these days, are leading various sectors. Real estate sector is certainly not to be left and more and more projects are being catered by women in India. Supporting the same, many builders and developers have launched lucrative projects for women to offer best possible benefits.
The concentration on women homebuyers in India is the result of a study that says 32% buyers are single women and women are playing a crucial role as a segment of homebuyers in India. And therefore, they should be provided with alluring offers and deals.
If we notice today’s scenario in the urban society, most women have an equal say in the households (sometimes more also) because of the financial independence they have.
There are various incentives and offers available for women at every step of buying a home, whether it is registration or funding.
The concessions available are attracting women because of the lucrativeness and thus the market of women home-buyers is expanding.
Incentives and Concessions
Along with both private and nationalized banks, government bodies also have special offers and concessions for women. At few places, women homebuyers are offered the lowest interest rates while at other places, EMIs are made easier for them.
Women are supposed to pay 4% stamp duty on a home loan, while men have to pay 6%, in New Delhi. Women also have larger tax deductions on the interest paid on home loans.
All these initiatives are giving a boom to women homebuyers, empowering women in one of the most significant sector of real estate.
Pertaining to this trend, Origin Realtors in Mira Road are launching a residential project this month, particularly for women. This means that only women can have ownership in these flats. Though men can buy flats, but it will be necessary to have a woman as the joint owner.
Also, Aspire Home Finance Corporation, which is a Housing Finance Corporation, had launched a scheme of loan in the name of MALA (Mahila Awas Loan by Aspire), specifically for women. Through MALA, women can get loans from Rs.2 lakhs to Rs.12 lakhs. They even provide the required assistance and guidance to women buyers through their counseling centers.