Property Tips: Buying property in wife's name is a profitable deal, you will get these big benefits..

The government is making many efforts to empower women. Therefore, some special arrangements have been made for property tax exemption and financial benefits. But even after so much expansion of these beneficial schemes of the government, most of the women are not aware of them. So today we will tell you what facilities the government has provided for exemption in property tax and to strengthen women on the economic front.

Taking property in the wife's name or giving ownership rights of the house to women also increases economic and family balance. In the last few years, there has been a significant increase in the number of people purchasing property in the name of women.

Home loan at low interest-
If you buy a house, most people take a loan. The amount that customers pay to the bank after taking a home loan, which includes the interest rate and principal amount, is called an Equal Monthly Installment or EMI.

Housing finance institutions provide interest rate relief to women as compared to men. Some housing finance companies have also created special loan schemes according to the purpose and income of women. Due to low-interest rates, buying a house in the wife's name is a profitable deal.

Exemption on stamp duty-
In many states, there is an exemption in stamp duty charges for registering property in the name of women. In some states of North India, the rate of registry fees for men and women is about two to three percent less than the rate of registry fees prescribed for men. So if a woman gets a property registered in her name, she also gets an exemption on stamp duty.

In the capital Delhi, men have to pay 6 percent stamp duty, while women get a rebate of 2 percent. That means they have to pay only 4 percent stamp duty.

Wife's financial security and self-reliance-
If a woman has ownership of a property, it strengthens her financial security and makes her self-reliant. Since she has rights over this property, she can make any decision with complete freedom. Whether the husband, children, or other family members agree or not. She can make a voluntary decision to buy, sell, and or rent out the property.
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