Real estate has been always dominated by male members but with the change in scenario and increasing benefits for women-owned property, the number of female buyers is also increasing. Women nowadays are the actual influencers and decision makers while buying a property.
There is an interesting fact as well that
it has been estimated that 30% of the house buyers in urban areas are women and
they enjoy a lot of benefit through their investment.
Cheaper loan: Various leading banks and other financial institutions, offers women home loans at a lower interest rate. Other than this there are various different schemes to encourage the women to make their own decision of owing up their own house. Some of these schemes are ‘Her Ghar’ by State Bank of India, Mahila Awas loan and various others.
Empowerment: To empower the women of lower income household, the move by Modi Government of Housing for All Mission where women should be sole owner or co-owner of the affordable house.
Reduction in stamp duty: A difference in few percentage of Stamp duty also makes a big difference. In states like Delhi and Haryana, the stamp duty for women is two percent lower. For some reasons, it is much valuable for couples to purchase their home on the name of the female partner. Also by jointly registering the house in the name of the women partner, men can also get a discount on the stamp duty.
Tax deduction: Women are also eligible for a tax deduction of Rs 2 Lakhs on the interest rate paid on home loans. If a husband and wide both are the joint owners, and if the wife is earning her own source of income, then they both can claim tax deduction individually. Women applying for home loan along with their husband can receive tax deduction in equal proportions.
The list of benefits does not
end here. There a lot more benefits that a women home buyer can have in India.
Women are the strongest pillars of India and providing them with such
facilities is a great start for making our country better and equal for all.
With all these schemes
mentioned, women can now become more independent and can now make better
decisions pertaining to property development in India. Now the women can also
aspire to be the first time home buyer.
Ashiana Housing build homes. Homes surrounded by vast green spaces and fresh breeze. Homes cocooned in secured gated complexes. Homes where futures are forged and there are opportunities to grow. And Homes in environments brimming with healthy activity, trust and respect. At heart, we build communities with care.