Buying a home is a dream of every couple. In a country like India, where most of the societies are pre-dominantly patriarchal, major decisions such as buying the property are taken by the male members and women have a little role to play. However, with changing times, various policies for the women empowerment are been made. With such policies in the market of the real estate and property, it has become financially sensible to buy the property in the name of the woman.

As a result of this, many male members of the families, who keep a comprehensive knowledge about the ongoing changes in the taxations, stamp duties, home loan policies etc, are buying the property in the name of their wives or mothers. Several benefits available to the women while buying the properties are the most prevalent in states like Delhi, Jaipur, Haryana, UP etc.

We have listed few of the advantages that the females can avail while buying the house. These will help you in weighing all aspects of registering the property in your buy. Many builders and developers are already constructing the projects which have an in-built rainwater harvesting system. It can be said that in coming years, almost every leading builder or developer would install such a rainwater harvesting system in their projects.

Significant concession in Stamp duties

In many cities like Delhi, stamp duty rates are 1% to 2% low for women than men. The stamp duty rate in Delhi is about 6% for men and for women, it is around 4%. Similarly, in Haryana, it is 8% for men while being 6% for women. This is definitely a reason for you to register your property in the name of your wife as by doing so, you can avail around 2% concession in the stamp duty rates.

Lower interest rates on home loans

Many prominent banks have also contributed their share to the women empowerment through various policies. Keeping their home loan interest rates lower for women borrowers is one such policy. Many banks such as ICICI, HDFC, and SBI etc. offer much lower interest rates on home loans to women. For instance, SBI offers an Interest rate of about 8.45% to 8.95% per annum to women while offering the interest rate of 8.5% to 9% per annum to men. Therefore, this is also a considerable reason to buy the property in the name of wife.

Tax deduction

Here is another and probably the most significant reason that will make you considers the option of buying the property in the name of a woman. There are various tax exemptions for the female buyers. According to many experts, if the property is bought n the wife’s name there is an extra deduction of around INR 1.5 Lakh per financial year. All these facts combine to make the decision of naming the property on wife’s name a sensible and smart decision. As buying the property is a crucial matter in many middle-class families and it requires a lot of strategy and planning in making the decision, these matters play a significant role if you want to make a smart investment.