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There are different favorable circumstances of purchasing any property for the sake of ladies, either as the sole proprietor or perhaps as a joint proprietor with the banks and governments proffering different sops. http://www.favista.com/blog/2017/11/16/advantages-of-buying-property-on-wifes-name/
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Q Menu ▼ Advantages of Buying Property on Wife’s Name © November 16, 2017 fr Real Estate # advantages of buying property, Advantages of Buying Property in Wife's Name,property blog,property website blog, Real estate blog,real estate property blog,real estate website blog 1 Srishti Chandola lh Like 0 There are various advantages of buying any property in the name of women, either as the sole owner or maybe as a joint owner with the banks and governments proffering various sops. Ambitious home buyers can actually seek certain advantage including the tax exemptions if the home is bought in the name of women. Such offers can attract women buyers to the real estate sector. Inspiring women to register assets in their name and boost women empowerment. Tax benefits The experts explain that some of the clear tax benefits of home buying in the name of the wide which includes an extra deduction of the interest up to Rs. 1.5 lakh for the financial year, if the house is self-occupied. If husband and wife are joint owners of the property and if wife plans to separate source of income, they can claim the tax deductions individually. The tax benefit will certainly depend on ownership share of each co-owner. Discount on stamp duty charges The various state government in the north Indian are now proffering partial waiver on the stamp duty for the buyers registering the properties in the name of women's either sole owner or joint owner. You can save 1-2% on the stamp duty if the property in name of lady. In Delhi, stamp duty rate is only 4% for women in comparison to % for men. Furthermore, if you are undergoing some of the financial setbacks and have some of the debts to repay, the property held in name of wife does not come undercover for the loss. Discount on home loan interest rates
Numerous banks such as ICICI, SBI and HDFC Bank, offer discounted rates on the home loans for the women borrowers. The prevailing rate of interest for women borrowers as mentioned below: Things to keep in mind when buying home in name of wife Experts maintaining that it is a good idea to buy a house in name of one’s wife or in the co-ownership. The wife, however, can enjoy tax benefit if she has a genuine and separate source of income. Furthermore, if there is a legal dispute on the property, the both, husband and wife will also be involved in the case. Thus, the home buyers should actually evaluate all possibilities for making the final decision. ^ Pros and Cons of Investing in Land Leave a Reply Your email address will not be published. Required fields are marked * Comment Subscribe to our newsletter Want to be notified when our article is published? Enter your email address and name below to be the first to know. Send Facebook
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