Advantages of being a woman home buyer.
It’s not hidden, that more and more women in India are becoming financially independent. They are earning and making right choices when it comes to invest their hard earned money. They are taking their rightful place as equals in the society, participating & making important decisions such as buying their own house.
As per the latest consumer survey by ANAROCK-LIC Housing Finance, 77% of women home seekers are looking to buy property for end-use, while the rest are looking at the same as an investment.
To make house purchases more profitable for women while fulfilling its larger goal of ‘Housing for All’ the Indian government offers several monetary benefits that women home buyers in India can avail of, if the property is registered in their name.
1. Stamp duty
When it comes to the stamp duty that has to be paid while buying a house, if the house is in the name of woman, the stamp duty decreases by 1%-2% as compared to male buyers in most of the Indian states. E.g., if a woman purchases a property worth Rs. 60 Lakhs, she saves around Rs. 60,000 – 1, 20,000 on stamp duty and the credit for this goes to the lower stamp duty scheme for women.
The stamp duty that in India for when a man pays v/s when a woman pays