Encouraging Women towards real estate investment – Punekar News
Pune, March 11, 2021: Due to the decline in interest rates and the reduction in stamp tax and district rates in selected cities, the demand for residential property has increased significantly in recent months. This has also resulted in an increase in the number of female homebuyers who play an important role in decision-making during the buying process.
According to a recent survey by real estate consultant ANAROCK, most Indian women prefer investing in real estate over investing in gold, stocks or even time deposits. The poll finds that women’s preference for real estate has increased after Covid-19 – from 57 percent of the vote in the pre-pandemic poll to 62 percent in the current issue.
To encourage more women to become homeowners, most financial institutions have different rates that are lower for female home buyers. Many banks and real estate finance companies (HFCs), including the State Bank of India (SBI), are offering a 5 basis point concession with women as the first female applicants. On International Women’s Day, the State Bank of India (SBI) offered female borrowers a further cut in home loan rates. “On Women’s Day, we’re making it special with an additional concession of 5 basis points * for borrowers and interest rates from 6.70% *,” SBI said in a tweet.
In this day and age, various government measures also support home ownership by women. For example, in order to claim homes under the government’s flagship program, Pradhan Mantri Awas Yojna (PMAY), homes must be registered as co-owners, either in the name of a woman or with women.
The government of Maharashtra also offered one percent stamp duty in its budget presented on International Women’s Day for 2021-22 when property is transferred or the deed of sale is registered in a woman’s name.
Here are some comments from real estate experts on the 1% stamp duty reduction for female home buyers offered by the Maharashtra government in the 2020-21 state budget:
Shraddha Kedia-Agarwal
Head of Marketing & Sales, Transcon Developer
“Women have long been recognized as an important part of decision making when choosing a home. Today women are independent, empowered, educated and employed. The state that recognizes this and enables women to be empowered is a big step in the right direction. The announcement in the state budget to lower the stamp duty for women homebuyers is a perfect celebration for Women’s Day that will encourage them to invest in real estate. “
Mr. Himanshu Jain
VP – Sales, Marketing & CRM
Satellite Developer Private Limited (SDPL)
“The state government has taken steps to encourage women to invest in real estate as they grant stamp duty concessions when a house is bought solely in the woman’s name. It is a pleasant coincidence that the measures for women in real estate were taken on the eve of Women’s Day. “
Mr. Pritame Chivukula
Co-Founder and Director of Tridhaatu Realty
This. Secretary, CREDAI MCHI
“The lowering of stamp duty for women is a welcome step on the eve of Women’s Day. This will encourage the home buyers to buy their dream home. “
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