Benefits of being a Woman Buyer in Real Estate
Oct 26, 2017 Home Trading Steps
Real estate is majorly considered as men dominated, be it, professionals or buyers. But now with women moving ahead in every domain, real estate is not far behind. As more number of women successfully climbing the corporate ladder, they tend to have more purchasing power and hence the number of women buyers are increasing day by day and further the numbers will grow. It does not matter whether they are single or marries but they are taking interest in real estate investments. And women have certain benefits in India when they buy a house in India. Want to know what are those? Here is the list:
Women get home loans at a much lower interest rate. All leading financial institutions offer the same for women. This is because women are usually punctual and have less tendency to be a defaulter hence banks are also keen to offer them home loans.
As per Housing for All Mission by Narendra Modi’s government, women should be individual owner or co –owners of the affordable houses. This had been done to empower women from the low income household groups.
Women are also entitled to pay lower stamp duty in some Indian states. It is usually 1 to 2 percent lesser than that of men. Such as in states like Delhi and Haryana, women are supposed to pay 2 percent less stamp duty. So if a couple buys a property then buying it in the name of the female partner is advantageous. And registering the property in the women’s name can also attract some discounts in stamp duty. Even if the female partner gets the property as a gift, then also the stamp duty will be less for them.
Women also get a tax deduction of Rs 2 lakh on the interest paid for the home loans. hence if you and your wife both are co applicants in home loan then both of you are eligible to claim the tax benefit for the interest paid, if the property is on let out.
So if you as a woman plans to buy a property then don’t think twice, just go for it and enjoy these benefits.
Women get home loans at a much lower interest rate. All leading financial institutions offer the same for women. This is because women are usually punctual and have less tendency to be a defaulter hence banks are also keen to offer them home loans.
As per Housing for All Mission by Narendra Modi’s government, women should be individual owner or co –owners of the affordable houses. This had been done to empower women from the low income household groups.
Women are also entitled to pay lower stamp duty in some Indian states. It is usually 1 to 2 percent lesser than that of men. Such as in states like Delhi and Haryana, women are supposed to pay 2 percent less stamp duty. So if a couple buys a property then buying it in the name of the female partner is advantageous. And registering the property in the women’s name can also attract some discounts in stamp duty. Even if the female partner gets the property as a gift, then also the stamp duty will be less for them.
Women also get a tax deduction of Rs 2 lakh on the interest paid for the home loans. hence if you and your wife both are co applicants in home loan then both of you are eligible to claim the tax benefit for the interest paid, if the property is on let out.
So if you as a woman plans to buy a property then don’t think twice, just go for it and enjoy these benefits.
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