Is it good to take home loan on WOMAN's name? Check out FIVE key benefits
Many people dream of buying their own homes. When it comes to finalizing and buying a home, people often took ample time to take decisions as it marks one of the biggest achievements in one's life. Nowadays, more women are having a say in selecting a home. They are not only acquiring their rightful place in society but are also equally shouldering the responsibility of decision-making. And thanks to this, real estate firms and home loan lenders often create special schemes/discounts for women to enable them to get their own homes.
Lower Home Loan Interest Rates
Home Loan: Lower Stamp Duty
A majority of the state government encouraged home ownership by women and thus they provide a significant rebate on registration fee/stamp duty if the property is registered in the name of a lady. Home loan benefits for females include lower stamp duty charges by 1-2%. A woman can thus save up to Rs 1,60,000 on registration of a property worth up to Rs 80 lakh.
Home Loan: Benefit as a Co-borrowers
Home Loan: Tax Benefits
Home Loan: PMAY Benefits
Pradhan Mantri Awas Yojana is a game-changer initiative for home buyers. The PMAY makes female co-ownership mandatory for the female head of the family. When it comes to the Economically Weaker Section (EWS) and Low Income Group (LIG) category, the PMAY scheme preference is extended to widows as well as single women.