International Trend: Home Ownership Opens Up to Women in India

A higher real estate tax rebate and cheaper loans for women in some parts of India is increasingly attracting the fairer sex to invest in property.

States such as Uttar Pradesh, Delhi, Orissa and Punjab have reduced rates for women. A lower stamp duty rate helps in saving on the overall costs while purchasing property, thus acting as a significant boost for prospective women buyers.

The emergence of the new breed of women achievers who place career before marriage, the desire for self-acquired security and awareness of tax benefits has fuelled interest levels. Plus, the lack of hesitation showed by banks in lending to women is an added bonus. Women, regardless of whether they are married or single, face no specific problems in obtaining property loans today.

It is true that banks were earlier hesitant about granting loans to single women since they saw a possible loss of income and therefore inability to service the loan following marriage. However, this is the age of double income families and such misgivings are a thing of the past. About 20% of all loan applications are from women and almost half of those are unmarried.

Women today are on the same professional, personal and financial platform as men. They are independent, earning high salaries, driving their own cars, and have an impressive lifestyle full of luxuries. Owning a house makes them feel safe and secure for the future and serves as a wise investment option.