House Buying Tips: Buying a house is everyone’s dream. Many people save money for this. Only then are they able to buy a house. On buying a house, people have to spend money on other things besides the price of the house. But if you buy a house in the name of your wife, then you are given benefits in it. The central government is taking many steps to increase the participation of women in society.
That is why the government gives discounts to women in many things as compared to men. The government has also made separate rules for women to buy property. Women are especially given discounts in property tax. So if you are planning to buy a new house, then buy a house in your wife’s name. You will get a lot of benefits in that. Let us tell you
Less interest is charged on taking a home loan
There are many jobs in India where women are given preference and they are also given concessions. If you are buying property, it is better to buy it in your wife’s name. This is most beneficial when you need a loan. There are many banks and housing finance companies in India.
Women are given loans at lower interest rates than men. Many banks and housing finance companies have schemes specifically for women. If you take a home loan in your wife’s name, you can get a home loan at a lower interest rate.
Exemption in stamp duty too
When anyone buys a house, a lot of paperwork has to be done to buy the house. You have to get the house registered. For this you pay stamp duty. A lot of your money is spent on stamp duty as well. But there are many states in India where women have to pay less stamp duty than men.
If compared, women are generally given a discount of 2 to 3 percent on stamp duty as compared to men. For example, in Delhi, men have to pay 6% stamp duty. Women have to pay only 4% stamp duty which is 2 percent less than men. In Uttar Pradesh, men have to pay 7 percent stamp duty while women have to pay only 5%.
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