Real estate boom: Surge in number of women homebuyers with 1.29 lakh transactions in 2024: Report

The landscape of the real estate market is experiencing a significant shift as women increasingly assert their presence as independent homebuyers. In 2024, residential transactions registered under sole women buyers reached an impressive 1.29 lakh, according to data from Square Yards. This 14% rise from the previous year starkly contrasts with the 11% increase observed among male homebuyers. 

Square Yards' 2024 report, "Key Holders of Change — Women Driving Real Estate Growth and Transformation," revealed that the total number of residential transactions registered with IGR in key cities such as Mumbai, Navi Mumbai, Thane, Pune, Bengaluru, Hyderabad, Noida, Greater Noida, and Ghaziabad reached 5.77 lakh. This marks a 4% increase from 5.56 lakh in 2023.

These figures highlight a growing trend of female homeownership, underscoring the broader financial independence women are achieving in major cities across the country. The data also reveals that the share of transactions by sole women buyers rose to 22% of the total residential transactions, up from 20% in 2023.

"Women homebuyers are emerging as a transformative force in the property markets, propelled by increasing workforce participation and supportive government initiatives. The numbers speak volumes—this year alone, 1.29 lakh residential transactions were registered under sole women homebuyers," stated Tanuj Shori, CEO and Founder of Square Yards. 

This rise is attributed to enhanced education, increased workforce participation, and greater financial independence among women. These factors have positioned women as formidable decision-makers, impacting the real estate sector significantly. Despite the rise in sole transactions, joint ownership between male and female buyers witnessed a 7% decline, though it still accounts for 40% of all transactions.

Government policies and financial benefits are playing a crucial role in this shift. Several state governments have introduced incentives such as stamp duty concessions ranging from 1% to 3% and reduced registration charges for female buyers. Moreover, leading lenders offer a 0.05% reduction in home loan interest rates for women, making homeownership more financially accessible. Additional tax benefits under Sections 80C and 80EE further ease the financial burden, encouraging more women to invest in property. These measures have collectively fostered an environment where women can confidently enter the property market. 

Kanika Gupta Shori, COO and Founder of Square Yards, said: "As women gain greater empowerment through education, workforce participation, and financial independence, they are emerging as formidable decision-makers and influential consumers across industries—real estate being no exception. Our data reinforces this ongoing shift: in 2024, residential transactions across top cities with women as sole owners grew by 14% annually, outpacing the 11% growth seen among sole male buyers. It’s inspiring to see women homebuyers grow from strength to strength each year." 

Insights from Square Yards’ report further confirm that the sentiments around homeownership among women have never been stronger. This trend reflects a broader societal change towards gender equality and empowerment in financial domains.

The overall residential transaction volume across key cities such as Mumbai, Navi Mumbai, Thane, Pune, Bengaluru, Hyderabad, Noida, Greater Noida, and Ghaziabad reached 5.77 lakh in 2024, marking a 4% increase from 2023. This growth in the real estate sector aligns with the increasing participation of women as influential consumers. 

The transformation in the property market dynamics suggests that female homebuyers are not just participating but are also shaping the future of real estate. With continued support from both governmental and financial institutions, this upward trend of women stepping into homeownership is likely to persist, further enhancing their role in the property markets.