ALL >> Others >> View Article
Benefits Of Buying A Home In The Wife’s Name
Buying a flat in NH 24 Ghaziabad in your spouse’s name has several advantages. Of course, it will impress her, and you will be seen as a trendsetter in a patriarchal society. But you might also be able to get a discount of 1-2% of the property value because several Indian states are offering benefits for women property buyers to boost their empowerment. Today we are going to discuss the benefits of buying a home in the wife’s name:
Relaxation in Stamp Duty
Stamp duty is a charge that one pays on the sale agreement, this is paid on or before the date of registration of the agreement. This stamp duty is fixed by the state government and varies anywhere between 4 to 8%. Given below are stamp duty of some states:
Some states of our country offer discounts to women home buyers on the stamp duty rate. Take Delhi for example, where men need to pay 6% stamp duty, whereas women only need to pay 4%. Sometimes you might not able to register the property in your spouse’s name. In such cases, applying for joint registration will be helpful. Some states offer a 1% discount on stamp duty. Additionally, you and your ...
... spouse can also avail tax benefits on a home loan.
Tax Benefits
One of the obvious tax benefits of buying a home in your wife’s name is that you can get an extra deduction of interest up to Rs 1,50,000 every financial year. If your wife has a separate source of income and you and your wife are the joint owners of a property, then you both can claim tax deductions individually. The tax benefit is directly proportional to the ownership share of each co-owner.
Lower Interest Rate on Home Loans
Several leading banks also offer lower interest rates on a home loan for women borrowers.
You should remember that if you buy 2 BHK apartments in Ghaziabad in the name of your wife who doesn’t have a source of income, it can be deemed as Benami transaction.
Add Comment
Others Articles
1. Everything You Must Know About 10 Mm Quartz Cuvettes With StoppersAuthor: Alpha Nanotech Inc.
2. Elevate Your Remington 870 With Magpul's M-lok Forend And Heat Shield
Author: Slade Street Tactical
3. Pardner Pump Protector Tactical Stock Is Now Announced Online!
Author: shotgunheatshield
4. Guarantor Mortgage Edmonton Can Help You Get The Mortgage Loan Easily!
Author: Dominion Lending Centres Ratefair
5. Enhancing Aesthetics With Metal Balustrades In Bexley: Trends And Designs
Author: Vinny Metalworks Limited
6. Discover The Best And Most Affordable Toy Storage Trolleys Online From Moon Kids Home
Author: Nahid Khan
7. Unlocking Creativity: Interior Designer In Trivandrum Reveals Top Tips For Transforming Your Space
Author: VC interiors
8. How Surrey Immigration Consultants Can Help With Express Entry
Author: CMC Immigration Services
9. Live Update: Lahaul & Spiti Weather And Road Status As Of 15 April 2024
Author: Sachin Jaiswal
10. Mon Top Safe And Durable Learning Towers For Indoor Fun For Kids By Moon Kids Home
Author: Bhawya
11. Exploring The Mystique Of Indian Owls
Author: bhajajuwnjaygwv
12. Powering Independence A Guide To Power Wheelchairs
Author: Affordable Medical Equipment
13. The Smart Seller's Guide: Getting The Most Cash For Your Gold And Silver
Author: Accurate PMR
14. Zumedia Inc. Launches Groundbreaking New Advertising And Broadcast Platform
Author: Orson Amiri
15. 5 Compelling Reasons To Choose Spring Break Camp Chilliwack For Your Kids
Author: Fraser River CEC