The real estate sector has been traditionally male dominated, with women comprising only 12 per cent of the Indian real estate workforce, as per a joint report by Naredco Mahi and JLL. However, in recent years, the sector has been undergoing a remarkable transformation, with women occupying key positions across the value chain – from property consultants and channel partners to leadership roles in prominent real estate firms. This push is being amplified by real estate firms through industry bodies such as the Confederation of Real Estate Developers’ Associations of India (CREDAI), which have advocated earnestly for greater gender diversification and inclusivity in the sector.
An equal balance
Today, women comprise nearly 35 percent of homebuyers in several major Indian cities. Factors such as rising economic empowerment, changing societal structures and policies that favour first-time female homeownership – lower stamp duty, subsidies under Pradhan Mantri Awas Yojana, tax benefits and lower interest rates – are predicted to further boost this demand. Even when involved in a tertiary capacity in the financial aspects of the homebuying process, women have traditionally had a significant say in influencing the ways in which residential spaces are designed and consumed. It is heartening to note that a considerable percentage of women (42 per cent) are estimated to view real estate as an investment asset class, outweighing gold purchases or even fixed deposits. A corresponding increase in the presence of women in the supply-side of the ecosystem can enable real estate firms to design more customer-centric approaches and appeal more evocatively to this growing market segment.
A competitive advantage
Ample data exists to suggest that the inclusion of women in diverse teams can foster a more creative, out-of-the-box approach to decision-making and urban planning. Women leaders typically favour sustainable development and socially responsible projects, meeting the priorities of contemporary homebuyers. Anecdotal evidence also suggests that women leaders are early adopters of technological innovations and embrace data-driven decision making. With cutting-edge technological interventions such as AI rapidly transforming the real estate landscape, their visionary leadership can afford organisations a definitive edge.
The way ahead
To further encourage female participation in the real estate sector, organisations must make concerted efforts to dispel stereotypes and foster a culture of inclusivity. This change must begin at the grassroots level with more inclusive hiring processes, as well as targeted initiatives such as sensitisation programmes and capability building programmes. In the absence of female role models and mentors for new talent to look up to and emulate, organisations highlight the successes of female employees. Finally, creating women-centric policies that are centred on a healthy work-life balance, such as flexible working hours, remote work options, and access to healthcare resources and maternity or childcare facilities, can encourage more women to enter and succeed in the real estate workforce.
Shared by: Ms. Shraddha Goradia,
Director – Dosti Realty
