Women are constantly changing the face of Indian real estate and have become synonymous with taking the lead in purchasing homes for themselves and their families. Whether the house was bought by them or registered or been gifted to them, we have seen a stimulus increase in homes named after women. Gone are the days where women were just supposed to take part in financial decisions and run the house. The real estate market has seen a tremendous increase in women buyers over the years.
This International Women’s Day to empower this spirit, Goel Ganga Developments is #CelebratingHer. Now, she pays only 3 % Stamp Duty while booking her dream home on selected properties valid till 31st March 2021. A survey was recently conducted on our social media platforms to raise awareness about “why women should book homes in India?”
Result of the Survey
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PLATFORM/
QUESTIONS
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Facebook
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INSTA
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LINKEDIN
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Google form
|
|
Are you aware of the norms/advantages of
women buying?
|
YES-4
NO-10
|
YES-55%
NO-45%
|
YES-37%
NO-63%
|
Yes-80%
NO- 20%
|
|
Do you think women can benefit more than
men while buying a house?
|
YES-4
NO-1
|
YES-87
NO-13
|
YES-83%
NO-17%
|
YES- 90%
NO- 10%
|
|
Would you consider co-borrowing (loan) with
your spouse from a bank for buying a house,
given the tax benefit and many other benefits, you gain?
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YES-2
NO-1
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YES- 86%
NO-14%
|
YES-78%
NO-22%
|
YES-65%
NO-35%
|
|
Were you aware under PMAY scheme, women
house owner tend to receive a subsidy up to
maximum of 2.67 lakhs?
|
YES-3
NO-2
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YES- 70%
NO- 30%
|
YES-64%
NO-36%
|
YES- 50%
NO- 50%
|
|
How many females do you know who have
bought/been gifted a house in their name?
|
No
response
|
0- 0
1-2-0
3-4- 1
5 and above-
1
|
0- 43%
1-2- 14%
3-4- 14%
5 and above-
29%
|
0- 50%
1-2- 20%
3-4- 25%
5 and above-5%
|
|
Were you aware that women have a partial
waiver on stamp duty while buying house?
|
YES-1
NO-0
|
YES- 67%
NO-33%
|
YES-50%
NO-50%
|
YES- 50%
NO-50%
|
The survey concluded that people yet have to understand the benefits of buying a home under their wife, mother, and daughter’s name. Here are several benefits when a woman buys a house or in her name.
Home loan eligibility
Co-owning a home with your wife helps to increase the loan amount, as in this case both applicants’ incomes are taken into consideration. Thus, this results in increased eligibility, resulting in a higher loan amount.
Home loans at a lower rate
A number of leading banks and NBFCs in India offer home loans with concessional interest rates to women, besides various lucrative schemes, offers, and initiatives. This encourages women entrepreneurs, executives, and even homemakers to take home-buying decisions. There are several schemes that benefit women who are seeking home loans.
A partial waiver on stamp duty
In many Indian states, stamp duty for women homebuyers is comparatively lesser than those applicable for men. There is a lower stamp duty charge even if the property is given to the female family member as a gift.
Tax reduction
Women can reduce their taxable amount for property tax up to Rs. 1.5 lakh if the property is for self-use. In the case of property co-owned by the man and the wife, the tax is deducted in equal proportion. Apart from this, if the property is rented, then the interest on the home loan can be deducted from the net rental value.
We aim to create a gender-balanced world and always honor and celebrate the spirit of womanhood with zeal and zest. To embrace and empower her glorious spirit we are doing every bit by fulfilling her dream of buying a home under her name.
