Women buyers are now the second biggest group of home buyers in India as they are becoming financially stable and independent when compared to earlier times. Both single and married women are contributing to the buying decision in home purchase and are now deemed as a strong demographic on which builders and developers are keen on focusing.
Here are some of the factors that are encouraging women to partake in the real estate process.
•Low-interest rates – Many banks offer home loans at a lower interest rate to attract women buyers. Also, several financial institutions offer interesting schemes and discounted rates directed at women buyer only.
•The mission of Housing for All – The Pradhan Mantri Awas Yojana or the Housing for All mission implemented by the government has mandated that women should be co-owners or sole owners of houses that are affordable under the scheme.
•Low stamp duty – In India, women generally only have to pay a stamp duty that is 2-1 percent lower than that of men. This can vary across different states and it is up to the state to decide on stamp duty charges according to the property type in urban and rural areas.
•Tax deduction – If the property is self-occupied, women are also eligible for a tax deduction up to 1.5 lakhs. Also, both the husband and wife are eligible for a tax deduction if it is joint ownership.
Heather Homes one of the reliable builders in Trivandrum have unique quality flats and apartments in Trivandrum that best suits your budget.
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