To increase the number of women investors in real estate, and to boost women empowerment several states in India are offering benefits to the women property buyers. Thus, it makes financial sense to register a property in a woman’s as doing this will make you eligible to avail the special and maximum benefits. Let us understand these benefits in detail & know how they can be leveraged.
Tax benefits on buying a home in the wife’s name
Tax benefits of buying a home in the wife’s name include an extra deduction on the payable interest which is up to ₹ 1.5 lakh every financial year when the house is self-occupied.
In case of your wife is the co-owner of the property
If a male purchase a property with his wife’s name as a co-owner of the property and if a wife has a separate source of income, then both can claim for tax deductions individually.
However, the tax benefit is dependent on the ownership share of each co-owner. Hence the tax benefit available in this case will be double to what one can avail as an individual.
Discount on home loan interest rates for women
Many home finance companies provide additional discounts & offer to the female home loan borrowers. These discounts are available on the interest rate as well as on the other charges involved. The discount and offers available to the women may vary from bank to bank, but it is for sure that there will be additional benefits to women as compared to a male home loan borrower.
To avail of this benefit, one needs to check and compare the home loan details properly with different lenders in the market. One can also check for this on the portal of online home loan providers.
For example – SBI is offering a home loan to women at an interest rate of 8.7-9.25% whereas to men at 8.75-9.35%.
Relaxation in stamp duty
Stamp duty is payable on the sale or transfer agreement of your property. This is fixed by the state government and varies from 4 to 8% depending upon the state. Without paying the stamp duty charges, one cannot claim the property to be on his/her name. This makes paying stamp duty very important while purchasing any kind of property across the country.
Coming to the benefits available to women homebuyers, they get relaxation on the stamp duty rate.
For example – in Delhi, a woman home buyer needs to pay a 4% as the stamp duty charge while men need to pay 6%.
Here the difference is only 2 % but when you calculate 2% of the total cost of your property, it will be a big amount.
This rebate on stamp duty is encouraging more men and women to purchase and registered the property under a woman’s name.
Bottom Lines-
There are different advantages for purchasing a house in women’s name and it is considered as one of the most monetarily brilliant moves.
The advantages ladies get are: the home loan becomes less expensive as they get the home loan on lower interest rates, they get a concession on stamp obligation, the tax rebates, and some add-on offers as well. So, Apply for a home loan today on your wife’s name to avail maximum benefits.

