What are the Benefits for Women Home Buyers in Real Estate?
India's vibrant real estate market provides numerous investment options in the commercial, industrial, and residential sectors. Against this backdrop, the growing importance of women's engagement in real estate investment represents a dramatic shift. Over the past several years, women have found a road to financial independence in real estate.
As societal standards shift, real estate investment becomes an increasingly important instrument for women, providing wealth development, monetary stability, and active economic inclusion.
Moreover, the availability of the best flats in Electronic City Bangalore, including 2 & 3BHK flats in Electronic City, is making property ownership not just a dream but a reality for many women. This blog will explore the advantages that women home buyers can enjoy in the real estate market.
The Benefits Women Can Enjoy in Today’s Real Estate Market
Here are some benefits that make home ownership a worthwhile pursuit for women in India:
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Reduced Stamp Duty
Many states, including Maharashtra, Himachal Pradesh, and Uttar Pradesh, are actively assisting women homebuyers by lowering stamp duty. Delhi and Himachal Pradesh differ by two percentage points (four per cent for women and six per cent for men).
Women only need to pay INR 1 for the stamp duty in Jharkhand. Although the percentages for men and women are equal in Tamil Nadu and Karnataka, the Karnataka government assured a charge cut in 2021. Currently, it is 3% for properties worth between INR 35 and 45 lakhs and 2% for those up to INR 20 lakh.
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Enhanced Home Loan Eligibility
Women can also enjoy increased home loan eligibility thanks to supportive policies from financial institutions. Traditionally, loan eligibility is determined by individual incomes. However, when couples co-own a property, both incomes are factored in, improving the overall loan eligibility.
This benefit allows women to qualify for larger loan amounts, thereby enhancing their purchasing power. With more options available, women can make informed decisions about their real estate investments.
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Improved Loan Terms
Further benefits accessible to female purchasers include a greater loan-to-value (LTV) ratio, reduced interest rates, and reduced processing costs. Many banks and financial institutions give women more loan eligibility, which could allow them to borrow more money than men to buy real estate.
For example, some banks allow women to borrow up to 90 per cent of the value of the property, but male borrowers may only be able to borrow as much as 80 per cent of the property's value. Additionally, several banks provide women-only house loans with lower interest rates and processing costs. While the subsidised rate of interest is not much lower than the conventional Home Loan, even a minor difference can impact the overall monthly installments.
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Tax Advantages for Women Investors
Understanding the tax benefits available to women in real estate is crucial. Female home buyers can access exclusive deductions and exemptions that improve their financial situation. For instance, women can claim deductions on property taxes, mortgage interest, and certain capital gains.
Joint ownership, particularly when the property is in the wife’s name, can provide additional tax benefits. Under Section 80C, women can claim up to INR 1.5 lakh, plus an additional INR 2 lakh for interest payments. First-time women home buyers can also claim INR 50,000 on the principal under Section 80EE.
Mahendra Arto Helix: A Premier Choice for Women Home Buyers
Mahendra Arto Helix stands out as an exceptional choice for women home buyers seeking the best apartments in Electronic City Bangalore . Located in the heart of Electronic City, this residential project features luxurious 2&3 BHK flats designed with both modern aesthetics and practicality in mind. With an impressive 86% open area, residents can enjoy ample green spaces and a serene environment conducive to relaxation and recreation.
Investing in a home at Mahendra Arto Helix not only supports financial independence but also contributes to a supportive community. Don’t miss the chance to elevate your lifestyle experience—explore your dream home at Mahendra Arto Helix today!
