Hey lady, the 21st century belongs to you and if you are thinking of your own cosy and exclusive apartment, this is the best time. Move aside Adam, the government is laying down the red carpet for Eve!!! Can’t believe your ears? Well, let the numbers do the talking.
Here are some facts that make home buying a great investment for women:
A certain percentage of your investment in real estate goes towards stamp duty levied by the government to get your property registered. Women buyers attract a lower stamp duty in most states like Delhi or Mumbai. While the men in Mumbai pay 6% of property value as stamp duty, women pay 5%.
The deal is sweeter in Himachal Pradesh, with joint property ownership attracting 5%. Men applying individually would have to pay 6%, now that’s women empowerment!
A home is a big-ticket purchase and you would need to take a home loan to fund your dream. Banks offer loans to women borrowers at 50 to 100 basis points (100 basis points is 1 percent point). The biggest lender, SBI, charges 20 basis points less for women. For a high-priced asset that’s a huge saving!
As a woman, you can be a co-applicant in a home loan and both you and your spouse will enjoy tax benefits under section 80C, section 24, section 80EE and Section 80EEA (the last two sections offer benefits only to first-time buyers).
Another incentive for women in India is the Pradhan Mantri Awas Yojana (PMAY). During registration, the name of at least one woman is required. If you are taking a home loan against the Credit Linked Subsidy Scheme (CLSS).
A home unlocks unimaginable joys for everyone and as a strong successful woman, you deserve your dream home at a location of your choice. Choose from 2, 3 or 4BHK flats and let your home be an extension of your personality. Have your favourite corner for ‘me time’ with your stimulating cup of coffee or tea. Create memories that will remain with you for a lifetime. With world-class amenities available with every flat, isn’t it time you got your flat?