Why is Now the Perfect Time for Women to Invest in Real Estate?

Real estate investment for Women

From cheaper house loan interest rates to expanded eligibility for home loans, women purchasers might profit financially from real estate investments.

Many incentives have been implemented in the industry to promote women's property ownership.

Let's examine the opportunities available to women who invest in real estate.

The Indian real estate market is very susceptible to interest rates. The majority of purchasers use financing alternatives to acquire a property. Banks and other financial institutions maintain standard interest rates for home loans. Nevertheless, women get a preferential rate, which is 1-2 percent below the market rate. This allows them to save a substantial amount of money over time.

Subsidised Stamp Duty

Stamp duty is a significant cost component in addition to the marketing value. Stamp duty on properties in Rajasthan, Maharashtra, Uttar Pradesh, and Odisha ranges from 5 to 7 percent of the property's market value. However, when the property is purchased in the name of a female family member, the stamp duty is reduced to 4 to 6 percent, or 1 percent less than the original rate.

PMAY

The objective of the Pradhan Mantri Awas Yojana (PMAY) is to offer housing at an affordable price. The plan is available to economically weaker section (EWS), low-income group (LIG), and middle-income group (MIG) women who own or co-own companies and states that the female head of a family must be the single or joint owner of the home.

Women may profit from this programme by taking advantage of PMAY's subsidies and other incentives. For the purchase or construction of a home, women who are single or co-owners of a property may get a subsidy of up to 2.67 lakh rupees. This subsidy may substantially lower the cost of purchasing or constructing a house for women.

Tax Benefits On Home Loans

Both men and women are eligible for a tax deduction on up to 2 lakhs of interest paid on a house purchase or construction loan. Swain continues, "If the property is held jointly by a married couple and the woman is working, then both parties may claim interest payment tax deductions individually under Section 24(5). Both parties may claim Section 80C deductions individually for the principal amount (up to INR 150 lakhs).

Women should definitely realise their ambition of house ownership by using these specific privileges.