The government, banks, and the tax system are helping women in buying homes. The government is also giving special discounts and benefits to women who want to buy a house. Let’s know what benefits the government offers to women.
If you are a woman and planning to buy a house, you should know what support is available for you. Earlier, buying a house was mostly seen as a man’s decision. But now, times have changed. Today’s women are not only buying homes but also securing their future.
1. Special discount on interest rate
Women get a discount of 0.05% to 0.10% on home loans. This small discount can help save a lot of money over time. Banks also see women as more reliable. Their credit score is usually better and chances of missing payments are low.
2. Double tax benefit
Women can get a tax benefit of up to ₹1.5 lakh under Section 80C and ₹2 lakh under Section 24b on home loans. If both husband and wife are co-owners, both can claim the benefit. This means the total tax saving can double. Also, a first-time buyer can get an extra discount of ₹50,000.
3. Less stamp duty
In Delhi, women pay 2% less stamp duty than men. In Rajasthan, women pay only 5%. In UP, the duty is 1% less for women. This helps save a lot of money during house registration.
4. Priority in government schemes
In schemes like PMAY, it is important to make a woman the owner or co-owner of the property to get the subsidy. Because of this, many women, especially from low-income groups, are becoming house owners. So if you or any woman in your family wants to buy a house, now is a good time.