{"id":51936,"date":"2021-04-20T18:40:24","date_gmt":"2021-04-20T13:10:24","guid":{"rendered":"https:\/\/navimumbaihouses.com\/blog\/?p=51936"},"modified":"2021-06-17T15:49:02","modified_gmt":"2021-06-17T10:19:02","slug":"in-india-woman-homebuyers-have-a-tax-benefit","status":"publish","type":"post","link":"https:\/\/navimumbaihouses.com\/blog\/news\/in-india-woman-homebuyers-have-a-tax-benefit\/","title":{"rendered":"IN INDIA, WOMAN HOMEBUYERS HAVE A TAX BENEFIT."},"content":{"rendered":"

Woman Homebuyers In India, a woman has always been an involved member of Indian households’ decision-making processes. Today, thanks to various women’s empowerment programs, society is gradually transforming, and more women are taking their first steps toward purchasing a home.<\/p>\n

\"Woman<\/p>\n

According to a new Economic Times survey, 42 percent of women choose real estate as their favorite investment, 30 percent prefer fixed deposits, and 17 percent prefer gold.<\/p>\n

This emerging positive trend can be seen in Tier I and Tier-II cities. The explanation for this is that these cities have no restrictions in terms of employment prospects, schooling, protection, and leisure opportunities.<\/p>\n

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Purchasing a home in the name of a woman has many financial benefits. Let’s take a look at it \u2013<\/strong><\/h2>\n

– Higher Chance of Loan Sanction<\/strong><\/h3>\n

Almost 90% of homes in India are purchased using only a home loan. And, when analyzing a household’s repayment capacity, if both the husband and wife’s names are listed, both of their incomes are considered. As a result, the loan is more likely to be approved smoothly and quickly than usual.<\/p>\n

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– Lower Rate on Home Loans<\/strong><\/h3>\n

Many financial institutions and banks provide home loans at even lower interest rates when the property is co-owned or even solely owned by a woman. It has been observed that women are very careful about loan repayment, and there are very few instances where women fail to pay the interest rate on time. SBI has created a \u201cHer Ghar\u201d scheme in which the transaction charge is fully waived if the property is owned by a woman. Similarly, several other banks have benefits of home loans to female property owners. However, one of the most important things to remember is that these privileges are only available if a woman completely owns the property or is the first claimant in the property.<\/p>\n

\"Woman<\/p>\n

– Stamp Duty Charges<\/strong><\/h3>\n

Many states waive stamp duty penalties in the event of a female claimant. For example, Rajasthan offers a 1% reduction in stamp duty charges, whereas Delhi, Mumbai, and Haryana offer a 2% reduction in stamp duty charges.<\/p>\n

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– Tax Benefits on Home Loan<\/strong><\/h3>\n

If a property is co-owned by a husband and wife, each of them will declare it individually in their tax-deductible column. This has aided and expanded urban sales of 3-4 BHK Mulund West apartments.<\/p>\n

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– PMAY <\/strong><\/h3>\n

The Pradhan Mantri Awas Yojana is a game-changer. If any female resident of the house is registered as a co-owner, the government would include a tax subsidy of up to Rs.2.67 lakhs.<\/p>\n

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Top Resale Property IN KHARGHAR NAVI MUMBAI | Flats in Kharghar<\/strong><\/h4>\n