Benefits of buying a flat in the wife’s name
Stamp duty is the tax paid to the state government when you buy a property and get it transferred in your name. In Delhi, for instance, a woman needs to pay a stamp duty of 4% compared with 6% for men. This benefit of lower stamp duty can be availed of even when the property is gifted to the spouse.
1. Can I take home loan on my wife name?
Yes, you can claim income tax rebate on Home Loan. If the house is registered only on your wife’s name, then it is not possible. But, if you and your wife are co-owners of the house as well as co-applicants of Home Loan, then you will surely get tax rebate.
2. Can I buy a property in my wife’s name?
The male members buy a property and get it registered in the woman’s name to benefit from the 2 percent lower transaction cost. The only way you can make this transaction legal is by gifting the money to the wife to enable her to purchase the property in her name.
3. Does wife have rights to husband’s property?
Even in case of husband’s ancestral property, wife does not have the right to it unless and until she inherits from the deceased husband. … Accordingly, a wife gets 50% share in her husband’s self-acquired property after divorce.
Tax benefits of buying a home in the wife’s name
Experts explain that some of the obvious tax benefits of buying a home in the wife’s name, include an extra deduction of interest up to Rs 1.5 lakh every financial year, if the house is self-occupied. If a husband and wife are the joint owners of a property and if the wife has a separate source of income, then they can both claim tax deductions individually. The tax benefit will depend on the ownership share of each co-owner.
Discount on stamp duty charges for women
Several state governments in north India are now offering a partial waiver on stamp duty, for buyers registering properties in a woman’s name – either as a sole owner or as a joint owner.“You can save 1%-2% on stamp duty, if the property is in a lady’s name. In Delhi, the stamp duty rate is 4% for women, compared to 6% for men. Moreover, if you are undergoing some financial setback and have some debts to repay, the property held in your wife’s name, does not come under the cover for your loss”
Stamp duty charges for Women Vs Men
| State | For men | For women |
| Delhi | 6% | 4% |
| Haryana | 6% in rural8% in urban | 4% in rural6% in urban |
Discount on home loan interest rates for women
Additionally, many banks such as SBI, HDFC, ICICI, etc., offer discounts on home loan interest rates to women as compared to men. This varies from bank to bank and goes up to nearly one per cent.
Here you can find registry flats in chattarpur – Delhi
3 BHK Flats In Hinaya Green Chattarpur 2nd Avenue, Near Guruji Aashram, New Delhi
Description
Established in Lap of Nature, Posh and bustling area at 2nd Avenue Chattarpur New Delhi. This location gives you a premium, green and peaceful locality. The locality offers a good mix of apartments, lavish farm houses which often become totally green area with fresh air. ‘Hinaya Green’ touched with all amenities nearby like club, proposed hospital, schools, colleges, shopping-malls and also connecting with two metro stations (Chattarpur and Qutub Minar). ‘Hinaya Green’ land spread in 1000 square yards in which 3 BHK flats are available in lush green area.
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