“I want to buy an apartment of my own. In my name. With my money,” Sharmila incomed her husband Shankar Chatterjee over the Sunday evening tea.
Shankar was taken aback.
He never expected this.
They have their family home in Salt Lake. Sharmila and Shankar live there with their daughter and Shankar’s parents.
Shankar had no idea why his wife wanted to buy an apartment of her own.
Their house is quite spacious and there is no problem as such. What is the need for buying another home? That too, in Sharmila’s name.
Shankar was getting a bit nervous.
What would his parents say after they hear that Sharmila would buy a flat in her name? Will it create some family disagreement? At least, it will surely raise eyebrows.
In any Sharmila can buy an apartment for investment. She earns well enough, being a senior officer in one of the largest engineering companies in India.
Still…
Sharmila Went Ahead with Her Decision
The property market is overwhelmingly male-dominated but that did not deter Sharmila from going ahead with her plans.
Since her childhood, she always stuck to her guns even in the case of any adversity.
Purchasing a property would give her a sense of accomplishment.
She wanted to go beyond the popular investment theme for women, i. e. gold ornaments.
For ages, gold ornaments have been the most preferred investment avenue for women.
However, the situation is changing now.
Many self-made women professionals and entrepreneurs are deciding on buying properties.
The trend is strengthening in big cities.
Property deals usually involve a considerable sum of money and such big amounts are empowering women.
Women are Influencing Property Buying Decisions
There was a time when men were the sole breadwinners of the family.
This status gave them the privilege of taking all major commercial decisions related to major investments including property transactions.
Women were hardly consulted on property matters.
However, times have changed.
Women are now well aware of financial matters. Additionally, an increasing number of women are contributing to the family income.
This has changed their status as co-decision-makers in property transactions rather than onlookers.
The trend of women influencing property buying decisions has been further accentuated because of smaller families.
She brings awareness, compassion, and assertiveness to the decision-making. Women particularly look at the intrinsic value, especially the convenience factors.
She is usually concerned about the flat layout, proximity to the school, market, bank, and connectivity.
More Representation of Women in the Property Sector
Traditionally, the real estate sector has been male-dominated and women were under-represented in the industry.
However, the reality is changing fast.
Women are rapidly changing the stereotype, whether it’s being part of departments like Strategy, Sales, Marketing, HR, etc., women are sitting at the table and making decisions, raising capital and participating in mergers and acquisitions, and impacting positively the success of their organizations.
As more and more women are coming forward to buy properties, women executives bring in a lot of empathy on the table.
Reasons for the Change
There are powerful catalysts for this change.
The real estate industry is fast shedding the tag of an unorganized haven of questionable practices with the adoption of modern business practices.
Corporatization of the sector has brought in a lot of professionalism; in addition, with RERA regulations, technology, training and skill development, international best practices, and many other factors, the perception of the real estate industry is changing rapidly.
Another driving force behind the increasing number of women in real estate is the growing emphasis on education and skill development. Women are pursuing degrees and certifications in fields such as finance, architecture, urban planning, and business administration, thus, empowering themselves with the knowledge needed to thrive in the competitive real estate landscape.
NAREDCO, which is one of the well-known autonomous bodies for Indian real estate, has a separate Women’s Wing that is extremely active. NAREDCO has established NAREDCO Mahi – NAREDCO Women’s Wing to empower Women Entrepreneurs and encourage the participation of women in the Real Estate Sector and Allied Fields.
Increasing Diversity in the Real Estate Industry
Women are the largest representation of diversity.
They are the perfect blend of compassion, awareness, assertiveness, and determination in various segments of the sector, which is one of the major reasons for the recognition of female potential in this field.
Organizations that have a diverse workforce have shown themselves to be high on innovation and a higher ability to understand the diverse needs of their customers which finally translates into better financial performance.
As more and more women are entering the world of property, they are bringing fresh perspectives, innovative ideas, and a determination to succeed.
Like every other profession, women are making their presence felt in the real estate sector too.
Women are breaking down barriers and making their mark in every aspect of the industry. This trend will further strengthen in the coming days.
