IWD 2024: Women creating indelible impact in male-dominated real estate sector

While Centre is doing all its bit and promoting equitable growth and opportunities for women, their strength, wisdom, and acumen have allowed them to make a mark in nearly all spheres of life, with real estate being no exception. Though primarily male-dominated, women in the space have created an indelible impact, says Kanika Gupta Shori, Founder and COO, Square Yards.

Women are choosing real estate as one of their career options, deeming it viable and lucrative, which was not the case before, reflecting a change in gender diversity the industry has been witnessing. 

“One of the primary merits women possess in the field of real estate lies in their inherent aptitude for collaboration and adept communication. Real estate companies have become alert to the skills women exhibit and, hence, are making changes in their policies and are enabling women in various ways to optimise their performance,” Anjana Sastri, Director – Marketing, Sterling Developers noted.

Real estate companies, through industry bodies like the Confederation of Real Estate Developers’ Associations of India (CREDAI), have made a significant push to encourage gender diversification and inclusivity within the sector, she added.

Also, the entry of multinationals into the Indian realty market has enabled the promotion of gender neutrality.

Priyatham Kumar, founder of Homes247, a new-age Proptech Platform, said that women have made a mark in the space by turning out to be decision makers when it comes to residential property or home buying. 
“And lately, women have made significant progress in the real estate sector by buying by themselves. This change is the result of several things, including government programs designed to motivate women to invest in real estate. Property ownership becomes more accessible through programs like the Pradhan Mantri Awas Yojana, which waives stamp duty taxes and provides subsidies to women. Women are also facilitated to invest in real estate by reasonable lending rates and tax advantages,” notes Kumar.

Additionally, to cater to the needs of women, developers have tailor-made their offerings to appeal to women, and options like REITs have increased investment options in commercial real estate. Given the anticipated rise of female borrowers, which CIBIL projects will occur at a 19 per cent annual growth rate over the next five years, women's impact in the real estate industry is expected to continue growing rapidly,” he added.