Benefits Of Buying A New Home In Your Wife's Name

Many state governments offer several benefits for woman property buyers as a part of women empowerment. These extra benefits applicable attracts many women to this realty sector. Are you looking for a new home, it is a good idea to register the property, in your wife’s name. The most important benefits of buying a property in your wife’s name are

Tax benefits

Buying a property in the name of your wife avail tax benefits. You become eligible for a tax deduction of a maximum of Rs 15 lakh every financial year. If she has extra income and both are co-owners of the property, then both can claim tax deductions individually.

Discount on stamp duty

To support women empowerment many state governments are offering discounts on stamp duty. This deduction is applicable in both cases such as sole owner and joint owner.

Low home loan interest rate

Many banks offer discounted interest rates on home loans for women home loan applicants.

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