5 REASONS WHY MORE WOMEN SHOULD INVEST IN REAL ESTATE
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A house isn’t merely a financial investment. It’s an investment of your dreams, one that brings along financial safety and independence. Historically, women have been regarded as home-makers, the ones who complete our homes. Today, they have transformed as the decision makers of every matter, be it household, investments or even at work.
This changing role of women has been aided by the transformative shift in the real estate industry, which empowers more and more women to become homebuyers. Read on to know the five key reasons why women should invest in real estate.
- Low Stamp Duty Rates
Among the top benefits of real estate investing for women are the lower stamp duty rates across the country. State governments such Maharashtra, Uttar Pradesh and the rest, empower women homebuyers, by offering reduced stamp duty rates in accordance with the Stamp Duty Act. These concessions help bring down EMI, reducing the financial burden and leading to substantial savings.
- Low Property Registration Charges
Apart from low stamp duty, women homebuyers can also benefit from reduced property registration charges if the property is registered in their name. With this initiative, the government aims to make the home buying process more accessible for women and encourage active participation of women in real estate transactions.
- Low Home Loan Interest Rates
A number of national and regional banks and institutions offer preferential interest rates on home loans for women. The interest rate for home loans for women is slightly lower compared to men. Women also enjoy higher loan eligibility. This means they can potentially borrow more money to purchase a property, in some cases as much as 90% of the property value.
- Higher Tax Benefits
The tax benefits of real estate investing for women on their home loan repayments are also many. When women become borrowers on home loans, they can claim a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act, on the principal amount of the home loan. They can also claim deduction of up to Rs 2 lakh on the interest paid on the home loan under Section 24 of the same act. These benefits can help further lessen the overall financial constraints of owning a property for the family.
- Access to Government Schemes like PMAY
Government schemes like Pradhan Mantri Awas Yojana (PMAY) aim to provide affordable housing to all citizens. This scheme offers specific provisions for women homebuyers, who can avail its benefits and get subsidies of up to INR 2.67 lakh, irrespective of the marital status. This scheme has led to a substantial increase of women property buyers in the country and improved the financial security for women through real estate.
Investments in residential real estate come with a lot of advantages for women. It also helps in portfolio diversification of investment for women. At the same time, it also helps build long-term wealth and provides a stable financial foundation for security through property ownership.
At Mangalam Landmarks, we offer homes that make your dreams come true. We are committed to delivering the highest quality of homes to enhance your standard of living with our L.I.V.E. homes. Our homes come with dedicated amenities for women, which empower them to soar high and achieve their dreams. To know more about Mangalam Landmarks and our offerings, visit https://mangalamlandmarks.in/