{"id":17372,"date":"2021-12-06T12:03:03","date_gmt":"2021-12-06T12:03:03","guid":{"rendered":"https:\/\/urbanspacecreators.com\/?p=17372"},"modified":"2022-09-21T09:47:02","modified_gmt":"2022-09-21T09:47:02","slug":"benefits-of-buying-property-in-womans-name","status":"publish","type":"post","link":"https:\/\/urbanspacecreators.com\/benefits-of-buying-property-in-womans-name","title":{"rendered":"Benefits of Buying Property in Woman&#8217;s Name"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"17372\" class=\"elementor elementor-17372\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c5a6272 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c5a6272\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-66ca056\" data-id=\"66ca056\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2521f10 elementor-widget elementor-widget-image\" data-id=\"2521f10\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"940\" height=\"732\" src=\"https:\/\/urbanspacecreators.com\/wp-content\/uploads\/2021\/12\/Benefits-of-Buying-Property-in-Womans-Name-1024x797.jpg\" class=\"attachment-large size-large wp-image-17383\" alt=\"Benefits of Buying Property in Woman\u2019s Name - Urban Skyline - Blog\" srcset=\"https:\/\/urbanspacecreators.com\/wp-content\/uploads\/2021\/12\/Benefits-of-Buying-Property-in-Womans-Name-1024x797.jpg 1024w, https:\/\/urbanspacecreators.com\/wp-content\/uploads\/2021\/12\/Benefits-of-Buying-Property-in-Womans-Name-300x233.jpg 300w, https:\/\/urbanspacecreators.com\/wp-content\/uploads\/2021\/12\/Benefits-of-Buying-Property-in-Womans-Name-768x597.jpg 768w, https:\/\/urbanspacecreators.com\/wp-content\/uploads\/2021\/12\/Benefits-of-Buying-Property-in-Womans-Name-1536x1195.jpg 1536w, https:\/\/urbanspacecreators.com\/wp-content\/uploads\/2021\/12\/Benefits-of-Buying-Property-in-Womans-Name.jpg 1751w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5c2c8450 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5c2c8450\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8ba438e\" data-id=\"8ba438e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3d6e7cef elementor-widget elementor-widget-text-editor\" data-id=\"3d6e7cef\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Women empowerment is underway. Bridging the gender income gap, gender equality is a full-force movement. In recent times, buying property in a woman&#8217;s name is undoubtedly an act of empowerment. To establish their rights as equals in society, the government of India, a few states, and some banks have joined hands in this endeavor. Though benefits vary from state to state or bank to bank, buying property in a woman&#8217;s name has become quite advantageous. Women enjoy additional stamp duty discounts or home loan benefits from banks or tax benefits in some states.<\/span><\/p><p><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">In India, many of us are still unaware of property rights for women. Personal laws mainly control property rights for women. According to the Hindu Succession Act of 1956, women&#8217;s property rights in all four faiths, including Hindus, Sikhs, Buddhists, and Jains, are fragmented. Later, the Supreme Court amended the Hindu Succession Act of 1956 to provide equal rights to daughters. Amended law treats all children equally.<\/span><\/p><p><b>Let&#8217;s look at the benefits:<\/b><\/p><ul><li><b>\u00a0<\/b><b>Home loan benefits<\/b>\u00a0If you are planning to buy a property and want to get a home loan, then seek a home loan in the name of your wife. For women borrowers, banks provide a lesser rate of interest. Rates of interest vary from bank to bank, but discounts are around 1 % additionally for a woman owner. If the wife is working, interest on a home loan can be approximately 8.55, whereas, for her male counterpart, it is 8.60%. For those wishing to apply for a home loan, register the property in their wife&#8217;s name. If the wife is co-applicant, one can redeem the benefit of lesser interest rates on home loans.\u00a0<\/li><li><b>Tax benefit on a home loan\u00a0 <\/b>One can enjoy tax benefits if the property is in a woman&#8217;s name. If the property is self-occupied, then an additional deduction of interest summing up to an amount of 1.5 lakh every year will be offered. If the property is jointly owned, then-husband and wife both can claim tax deductions separately.\u00a0<\/li><li><b>\u00a0<\/b><b>Stamp Duty benefits <\/b>In many states, lower stamp duty has been set for women property owners. However, the exact percentage may vary from state to state. For instance, in Delhi, 7 % stamp duty is imposed for men property owners, whereas 5 % is for women property owners. In Jharkhand, for men, it is set at 7% whereas for women only Re1. In Punjab, it is 6 % for men, and for women, it is 4%.\u00a0<\/li><li><b>Few more nuances to keep in mind<\/b>\u00a0If the woman of the house has no fixed income, she may not get a home loan. If both husband and wife combine their income to buy the property, then the rental income earned on the property will be taxed separately. If a dispute arises in the future, the husband is equally accountable even if the property is named under his wife.\u00a0<\/li><\/ul><p><b>\u00a0<\/b><b>Last words<\/b><\/p><p><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">If you are looking to invest in residential<strong><a href=\"https:\/\/urbanspacecreators.com\/\"> property in Ravet<\/a>,<\/strong> then register the property in the name of a woman to get the tax benefits, home loan, and stamp duty reduction. Whether she is married or single, ownership in her name creates plenty of financial benefits. If she is earning, she can claim the benefits; if not, she can also claim the benefits at the time of purchase.\u00a0\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Women empowerment is underway. Bridging the gender income gap, gender equality is a full-force movement. In recent times, buying property in a woman&#8217;s name is undoubtedly an act of empowerment. To establish their rights as equals in society, the government of India, a few states, and some banks have joined hands in this endeavor. Though [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":17383,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-17372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blogs-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/urbanspacecreators.com\/index.php?rest_route=\/wp\/v2\/posts\/17372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/urbanspacecreators.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/urbanspacecreators.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/urbanspacecreators.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/urbanspacecreators.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17372"}],"version-history":[{"count":27,"href":"https:\/\/urbanspacecreators.com\/index.php?rest_route=\/wp\/v2\/posts\/17372\/revisions"}],"predecessor-version":[{"id":18657,"href":"https:\/\/urbanspacecreators.com\/index.php?rest_route=\/wp\/v2\/posts\/17372\/revisions\/18657"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/urbanspacecreators.com\/index.php?rest_route=\/wp\/v2\/media\/17383"}],"wp:attachment":[{"href":"https:\/\/urbanspacecreators.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/urbanspacecreators.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/urbanspacecreators.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}