While taking a decision to buy a home, consider buying in the name of wife to get some additional benefits. Several states in India is emphasizing in women empowerment. Let us examine multi pronged benefits and the real sense of registering a property in wives name or holding the property jointly with the government offering several sops to favor women empowerment.
Extra deduction of Rs.1.50 lacs each financial year if the house is self occupied
In case property in joint ownership and wife has a separate source of income, then both can claim tax deduction separately. The
tax benefit will depend on the ownership share of each co-owner.
Several states in North India offer partial waiver of stamp duty to a women owner, you can save 1-2% on stamp duty. In Delhi
women has to pay 4% against 6% for men.
There is a special home loan discount for women. SBI, ICICI, HDFC offer ½ % discount.
However, genuinely of showing wife’s legal income is essential for taking the full advantage of such provisions. We at KW Group encourage women buyers and joint property buyers to pass on the maximum benefit to our customer. Our marketing team is always ready to assists home buyer and plans their long term tax benefits.
KW Srishti, at Raj Nagar Extension, Ghaziabad over an area of 10.05 acre having 11 towers with 1468 flats with exquisite land scape, Children park, highly secured entry gate, standard size swimming pool, jacuzzi, grand gym, lawn tennis court, badminton court, cricket pitch, table tennis, billiard, snooker, crèche, card room, sprawling lounge, steam & sauna bath, banquet / party hall, terrace garden, amphitheatre are the integral part of the project.