Maharashtra State Budget 2023-24: Women Homebuyers to benefit

The demand for residential real estate has gone up significantly in the past couple of years. This has also led to a rise in women homebuyers who play a vital role in decision-making during the home buying process.

According to a recent survey by real estate consultant Anarock, at least 65 per cent of women homebuyers now prefer to invest in real estate, followed by 20 per cent favouring the stock markets. Just 8 per cent of women respondents favour gold and 7 per cent prefer FDs.

A day after the International Women’s Day celebration, the Maharashtra Government in their budget for 2023-24, offered one per cent discount in stamp duty for women homebuyers. This move is expected to make homebuying cheaper for women in the state.

Here are few comments from real estate experts on the 1% concession in stamp duty for women home-buyers offered by Maharashtra Government in the State Budget 2023-24:

Mr. Manoj Patwal, Founder and MD, BetterServ Ventures Private Limited
“Women have long been recognised as an important part of the decision-making when it comes to buying a home. Today, Women are independent, empowered, educated and employed. The state acknowledging this and making way for women to be more empowered is a great move in the right direction. The announcement in the State budget on reduction in stamp duty for women homebuyers has come as a perfect celebration for Women’s Day which will encourage them to invest in real estate.”

Mr. Pritam Chivukula, Co-Founder & Director, Tridhaatu Realty and Treasurer, CREDAI MCHI
“Women of today are empowered and play an important role in the home buying process. Women home buyers are increasing and constitute a sizable segment of home buyers in the housing sector. The government on its part is encouraging them by offering a range of benefits. The 1% discount in stamp duty for women by the State Government is a welcome move just a day after Women’s Day. This will encourage the women homebuyers to buy their dream home.”

Mr. Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory
“We commend the Maharashtra Government for their decision to offer a 1% discount on stamp duty for women home buyers. This proactive step towards empowering women homebuyers and making home ownership more affordable for them. We believe that this move will not only encourage more women to invest in real estate but also provide a boost to the overall real estate sector. It will create a positive impact on the economy by increasing the demand for housing and contributing towards the growth of the industry. We look forward to seeing the positive impact of this initiative on the real estate market and the economy as a whole.”

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