Benefits Of Buying House On Wife’s Name: Many schemes are run by the government for women. The government keeps trying to increase the participation of women in the society. Therefore, women are given special relaxation on many things. The government has also kept a separate tax slab for women.
Similarly, in the case of purchasing property, a provision for exemption in property tax has also been made for women. If you want to buy a new house and buy it in your wife’s name, then she can get a lot of benefit. Let us know how much discount is available on buying a house in the name of women.
Less interest will be charged on home loan
Taking a house in the wife’s name also makes a wife financially powerful. So this also saves your money. If you take a house on home loan. And you take a home loan in your wife’s name. So you can get home loan at affordable interest rates.
Because many banks and housing finance companies provide loans at lower interest rates to women instead of men. Many loan schemes are made by housing finance companies especially for women. If you want to buy a house in your wife’s name. Then you can definitely benefit from this.
Exemption is also available on stamp duty
Whenever you want to buy a property. So a lot of expenses are incurred in its paperwork also. A good amount of stamp duty is charged on registration. But in many states, women have to pay less stamp duty than men.
In comparison to men’s stamp duty, women’s stamp duty has to be paid 2 to 3 percent less. If we talk about Delhi, men have to pay 6% stamp duty in Delhi, whereas women get two percent exemption in it, that is, they have to pay only 4% stamp duty.
Also read: HRA Claim: Income Tax Department can also send you a notice, always keep these documents ready
