The Indian government and financial institutions are taking significant steps to support and empower women in the homebuying process.
PMAY mandates that at least one woman be registered as the owner of the property, empowering women in the homebuying process.
First-time homebuyers, including women, can avail of up to ₹2.67 lakh in subsidies under the PMAY Credit Linked Subsidy Scheme (CLSS).
The government provides a 6.5% interest subsidy to women in the Economically Weaker Sections (EWS) and Lower Income Group (LIG) categories.
Stamp duty rates for women are lower than for men in most states and union territories.
Stamp duty rates for women are lower than for men in most states and union territories.
State-wise Stamp Duty Details
Stamp duty rates for women are lower than for men in most states and union territories.
57% of women borrowers have a credit score of prime and above, compared to 51% for male borrowers.
The share of women homebuyers stood at 23% in March 2023, up from 20.6% 5 years ago. Women borrowers are growing at a CAGR of 15% (2017-22).
The share of women borrowers in total credit is relatively low at 10.7% (Dec 2023), but it is growing at a robust pace, outpacing the growth in loans to male borrowers over the last seven quarters.
The 2X Challenge, launched at the 2018 G7 Summit, is a bold initiative that calls on Development Finance Institutions (DFIs) and International Finance Institutions (IFIs) to channel investments towards the world's women. This powerful movement has played a crucial role in shaping the field of gender lens investing (GLI), with hundreds of companies and investors now using the 2X Criteria as a global standard.
The impact has been remarkable. Between 2021-2022, a total of $16.28 billion was invested, with $2.5 billion (15%) directed towards South Asia, including India. By empowering women, we are not only driving economic growth but also creating a more equitable and prosperous world for all.
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