Stability and security: the case for women’s property ownership in India

livemint.com:

What the numbers say: According to the National Family Health Survey, which covered 14 states in India during 2019 to 2021, ownership of land or property among women was higher in rural areas than in urban areas. Of the women respondents surveyed, 38.3% women in urban areas had house or land ownership compared to 45.7% in rural areas. This was in the case of women in the age-group of 15-49 years.

The real estate industry, along with respective state governments and the housing finance sector, offers several benefits for women home-buyers. These benefits include lower interest rates, reductions in stamp duty, and other advantages. Data analysis from various lending institutions indicates that loan default rates among women applicants are lower.

According to a TransUnion Cibil report on women’s participation in India’s retail credit market, the credit quality of women borrowers is higher than that of men —53% of women borrowers, compared to only 47% of men had prime scores (prime score range: 731-790+). Women borrowers have a much lower consumer level 90-day plus delinquency rate of 5.2%, compared to 6.9% for men borrowers, according to the same report. Consequently, women have higher chances of being approved for property loans, along with additional benefits such as higher loan amounts and more flexible repayment tenures.

Property rights: The economic implications of home ownership for women in India are profound. Historically, women have been marginalized in terms of property rights, often relegated to dependent roles within the household. However, with increasing urbanization, education, and economic participation, women now recognize the importance of property ownership for financial security and independence.