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COVER STORY/ECOSYESTEM
Deepashree Pawar
Deepashree Pawar
Associate Director
Tips for Women Home-buyers in India
In a move to empower women, Maharashtra Government is offering a 1% discount on stamp duty for women homebuyers, aiming to enhance affordability. The one percent discount in stamp duty will substantially alleviate the financial burden associated with home-buying for women. By making homeownership more accessible to women, the government is fostering economic independence, asset creation, and wealth accumulation.
Tips for Women Home-buyers in India
- Most Indian states charge a lower stamp duty if the property is registered in the name of a woman.
- Home Loans meant for women are priced 50-100 basis points lower than the average rate.
- In case a property is jointly owned by a man and his wife, both spouses will be able to claim tax deductions on their individual incomes.
- Under the Pradhan Mantri Awas Yojana (PMAY) scheme the property must be registered in the name of at least one woman in the household.
- An unmarried woman has coparcenary rights – a legal interest in her parents’ ancestral property.
Real Estate consultant Anarock reports that 40% of women prefer mid-segment properties priced at INR 45-90 lakh, while 35% opt for affordable properties below INR 45 lakh. Only 3% consider luxury properties over INR 1.5 crore, compared to 12% of men.
