Authored By Mr. Lalit Makhijani, Chief Marketing Officer, Godrej Properties Limited (GPL).
As the employment opportunities for women grow, the spending power of the society also increases. This boosts the success of those sectors that predominantly catered to the male audience but are now opening up to. Amongst these are the real estate, automobile and the sports sector that have witnessed a drastic change in the customer base over the last few decades.
Home is something where you sigh with satisfaction as you walk through its door. The feeling of joy and relief is unsurmountable at that moment. And, if you are an owner of the house, you will completely agree with the fact. At that moment, you briefly relive the effort and struggle you went through to get a place of your own. The security, comfort and independence a house of your own provides you with, is something that can never be taken away from you. It is your haven and your hideaway place, an asset you have earned for your retirement years.
Raising the Bar on Independence
As the scope for employment of women grows, the spending power of society also increases. This boosts the success of those sectors that predominantly catered to the male audience but are now opening up to everyone irrespective of the gender. Amongst these sectors are real estate, automobile and the sports industries that have witnessed a drastic change in the audience over the last few decades.
With an increasing number of women becoming financially independent and living away from home, they indeed are the secret to an evolving and burgeoning real estate market. Several property groups and developers recognise this, with some even solely catering to women buyers in their projects. These realty groups understand that today’s women are looking to be independent right from an early age. And, owning property is one of the critical characteristics of identifying themselves as an independent.
The feeling of Comfort and Security
To most women, it is not the size of the property or house that matters the most. It is the notion of owning a home that nobody can ask you to leave. Factors such as safety, easy commute and amenities are prioritised next. With banks targeting women buyers through special schemes like one per cent down payment, lower stamp duty charges and lower interest rates, it only motivates and boosts the buying power of any woman looking for an opportunity in owning a house.
Having a home of your own gives you the liberty to eat anything, come home at any time; it gives you the complete freedom to be you. Nobody can pass judgement on how you live your life. Designing and decorating a home is one of the critical sources of happiness for most women. Décor ranging from vintage to modular, rustic to classic, can also vary from room to room. Creating a home creates a sense of comfort and cosiness only you can relate to.
Special Schemes for Women Homebuyers
In a bid to encourage women homebuyers, especially those from the lower-income category, the government has announced affordable housing schemes that can be best leveraged. Besides, it is not just LIG buyers, but other mid-income and fairly earning families who buy homes in the name of a female member since the interest rates are approximately 0.25 per cent lower. For those looking to build a home with their spouses, the women become co-owners of the property, making both partners eligible for a reduction in taxes by roughly two per cent. While buying property is not an easy decision, it is good to see how today’s women are enthusiastically and independently making financial decisions. Overall, a woman today is self-sustainable and developing managerial and finance skills, taking independence to a whole new level.
A lot can be achieved by a woman when she manages the house. Developing execution and managerial skills is the highlight of it. She has a free pass to make mistakes and learn from it, knowing that nothing will take away her ownership of the house. No matter how hectic the days she had at work, being in one’s own house provides an immense sense of satisfaction and relief. After all, home is where the heart is.