Advantages of women home buyers

To every empowering woman dreaming of buying a home. Now is the right time to make a move to achieve your dream. The Government of India supports women home buyers with multiple benefits to strengthen them economically, and it would also increase their purchasing power.

Advantages of women home buyers
Intending to empower women and increase property ownership among them, the Indian government has taken several measures to make buying houses more profitable. Here we have listed some of the monetary benefits women home buyers in India can avail of if the property is registered in their name.

1. Lower stamp duty for women
   Indian states, like Maharashtra, Himachal Pradesh, and Delhi, charge a lower stamp duty (the charge that the buyer has to pay to get the property registered under the government’s records) if the property is registered in the name of a woman.
2. Lower interest rates on home loan
   Most of the home buyers in India lean on housing finance to buy properties. Women, however, do not have to spend as much as men; several banks offer home loans to women at lower interest rates. When a woman wants a home loan from India’s biggest lender, State Bank of India (SBI), at present, they would have to pay only 6.80% interest for the loan amount up to Rs. 30 Lakhs; meanwhile, men pay 7%. And HDFC charges 6.90% from women home buyers. The higher interest rate for men.
3. Tax benefits
   When a man and his wife own a property, the woman can become a co-applicant in the home loan application. The fruitful benefit is that both spouses can claim tax deductions on their respective incomes under Section 80C, Section 24, Section 80EE, and 80EEA, available only for first-time home buyers.
4. Pradhan Mantri Awas Yojana (PMAY) Benefits
   Pradhan Mantri Awas Yojana (PMAY) is an initiative by the Government to implement affordable housing, and it has become mandatory to buy property under the scheme. The property should be registered in the family’s name of at least one woman. The credit-linked subsidy scheme (CLSS) allows women to avail concessions on interest rates. Women earning up to Rs 3 lakhs per annum from the Economically Weaker Section (EWS) and those in the Low-Income Group category (LIG)  can avail of 6.5% interest for 20 years or the tenure of the loan.
   With all these schemes, owning a house has become pretty easy. That too, when it comes to buying an apartment, the loans can be authorized more quickly than housing loans. In addition, the cost of buying a house is much higher than purchasing an apartment. Capital appreciation for the flats is also higher.
   Gowtham Housing’s Royal Palm apartment with 15 + world-class amenities offers the closest proximity to the most happening places in the city of Coimbatore. After the sold-out success of Phase 1, Phase 2 is open for booking. The premium 2 & 3 BHK apartment is located at the neo-residential hub of Coimbatore.

This has been the go-to choice for first-time buyers and seasoned investors. We welcome women to join our community of happy flat owners.