Yes, it is more beneficial to register an immovable property on a woman’s name, as many states and banks have introduced financial benefits for women buying property. As a result, buying property in a woman’s name can bring many advantages such as:
- Lower stamp duty rates: States like Delhi1, Haryana2, Rajasthan3 and Uttarakhand4 have lower stamp duty rates for women buyers or for joint buyers, as compared to sole male buyers.
- Reduced home loan rates: Many banks and financial institutions offer loans at discounted interest rates for women buyers. The specifics can be found on the banks’ official websites.
- Tax Exemptions: Women homeowners are eligible for tax deductions on interest paid towards home loans. Women are also eligible for other tax benefits.5
- More information available at: http://fs.delhigovt.nic.in/wps/wcm/connect/doit_revenue/Revenue/Home/Services/Property+Registration[↩]
- Stamp Duty can be calculated at https://jamabandi.nic.in/StampDuty by entering the gender of the owner and the stamp duty for women is 5% of the total value of the property and for men, it is 7%[↩]
- Detailed information available at https://igrs.rajasthan.gov.in/writereaddata/Portal/Images/fees_new.pdf[↩]
- More information available at: https://registration.uk.gov.in/files/Stamps_and_Registration_-_Stamp_Fees__Regn_Fess.pdf[↩]
- More information on the benefits available to women homebuyers available at: https://blog.ipleaders.in/benefits-women-home-buyers-india/[↩]