Women Homebuyers Record 129,000 Property Transactions In 2024, Says Report

More women in India are taking charge of homeownership, marking a big shift in the real estate market. With greater financial independence and changing social roles, they are not just being a part of the conversation, but are also taking part in the decision-making process, according to a recent report by Square Yards.

Square Yards said in its report titled Key Holders of Change - Women Driving Real Estate Growth and Transformation that the number of homes purchased solely by women rose to 129,000 this year, a 14 per cent increase from 114,000 in 2023. In comparison, homes bought by sole male buyers grew at a slower rate of 11 per cent. This rise has pushed women’s share of total residential transactions to 22 per cent, up from 20 per cent last year, it said.

According to the report, across Mumbai, Navi Mumbai, Thane, Pune, Bengaluru, Hyderabad, Noida, Greater Noida, and Ghaziabad, the total registered residential transactions reached 577,000 in 2024, a 4 per cent increase from 2023. As more women purchase homes on their own, joint ownership of homes by men and women dropped 7 per cent, the report said. It, however, added that joint ownership continue to make up 40 per cent of overall registrations.

“As women gain greater empowerment through education, workforce participation, and financial independence, they are emerging as formidable decision-makers and influential consumers in real estate. The ongoing momentum speaks volumes, as women continue to secure their futures with confidence,” said Kanika Gupta Shori, chief operating officer (COO) and co-founder of Square Yards.

The report said that government policies have been a significant factor in promoting women’s homeownership. The Pradhan Mantri Awas Yojana (PMAY) mandates a minimum of one woman to be a registered owner in order to take advantage of its benefits, again encouraging female homeownership. Also, several states provide stamp duty discounts ranging from 1-3 per cent, while registration fees have also been lowered by 0.5-1 per cent for women buyers.

Banks also supports this trend, providing a 0.05 per cent reduced rate of interest on home loans for female borrowers.

Tanuj Shori, chief executive officer (CEO) and founder, Square Yards said: “Women homebuyers are emerging as a transformative force in the property market, propelled by increasing workforce participation and supportive government initiatives. This year alone, 129,000 lakh residential transactions were registered under women’s names, underscoring their growing influence.”