Why most of the property buyers prefer buying property in his wife's name? What benefit does property buyer get?

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Abdul Zafar, Hyderabad

2nd June 2015

Investment Advice in Hyderabad

investment advice

buying proerty

tax benefit

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Replies (7)

Hi Manju, Women living on rent can avail house rent allowance exemption on their taxable income. If the female taxpayer is living on rent and has any type of income from any source and she does not own a house, in that situation she enjoys a tax deduction in terms of section 80GG of the Income-tax Act, 1961 subject to 25 per cent of her income but restricted to the sum of Rs 2000 per month.

Dhananjay, Hyderabad

5th June 2015

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Hi, If the woman is the property buyer, tax rebate can be shared with the husband as well as co-applicant of the home loan.Property registration in the name of the female is one of the choices to avail special offers.

Syed Ali Khan, Hyderabad

4th June 2015

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Hello, thanks for sharing information, Right now I am staying in rented house from last 3 yrs and I am planning to purchase a flat in Hyderabad. What benefit I can avail while buying property.

Geeta Naidu, Hyderabad

4th June 2015

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Hi all, Several tax benefits and exemption can be availed if a woman buyer opts for a home loan.
If the property is self-occupied then the deduction towards interest is limited to Rs 1.5 lakh per financial year.If the property is rented out, the entire interest on a home loan can be claimed as the deduction against the net rental value.

For first time home buyers, income tax rebate on the interest of home loan up to Rs 25 lakh is Rs 1 lakh.

Tinku Patel, Hyderabad

3rd June 2015

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Yes Praneeth, you are right in Delhi the stamp duty charges are four per cent if the property is registered solely in the name of a woman and 5 percent for joint registration.

Tushar Surendren, Delhi

3rd June 2015

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Hi Sridhar, there are various advantages available for the female property buyers i.e
1. Stamp duty concession
2. Tax exemption and rebate
3. Sharing the benefits
4.Ladies living on rent house.

Dhananjay, Hyderabad

2nd June 2015

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Hi all, can anyone explain in brief how we get benefit from these advantages?

Bharath Konda, Hyderabad

2nd June 2015

Hi, Bharath, Several state governments offer a partial stamp duty waiver to woman property buyers or to the joint registration when one of them is a female.For example if the property is registered in the name of women solely, there is a concession given of about 2 per cent.

Praneeth Kumar, Hyderabad

2nd June 2015

Hi Abdul ,In our society mostly males dominate while buying a property but nowadays due to tax exemption and benefits trends is shifting from male to the female purchaser. Due to tax benefits and rebates, the male home buyers are not shying away from registering the property in a female's name, be it their wife or mother.

Dhananjay, Hyderabad

2nd June 2015

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