‘Women buyers don’t want to settle for small properties’

MUMBAI: Women homebuyers are much more liberal when it comes to loosening their purse strings, according to a new survey which has revealed that a majority of them do not want to compromise on property size.

According to property consultancy firm ANAROCK, nearly 60 per cent women home seekers preferred property within the budget range of `80 lakh.

“Nearly 80 per cent prefer large-size units within both 2 and 3 BHK options (between 1,000-1,250 square feet for 2 BHKs and 1,250-2,000 square feet for 3 BHKs). Clearly, contrary to the conservative preference for compact homes, the Indian millennial woman does not want to compromise on property size,” said Anuj Puri, chairman, ANAROCK Property Consultants.

The survey also revealed that a higher proportion of women preferred investment in real estate over fixed deposits and gold. Nearly 42 per cent of women respondents preferred real estate as an investment asset class when compared to 30 per cent who chose fixed dep-osits. Interestingly, only 17 per cent favoured gold.

These trends, according to the property consultant, highlighted the fact that women were emerging as a critical homebuyer segment in India — not just a “niche” segment — and that marketers and developers needed to
re-strategise their business approach to include them as a major target audience.

“Today’s women share the same priorities that men do — they are in complete control of their homes, and that includes owning them. Property marketers must factor in this vitally important change in their customer demographics,” added
Mr Puri.

According to firm ANAROCK, there are many benefits that women can avail in India by buying and registering a property in her name, including lower stamp duty charges, low home loan interest rates and tax deductions.