alisha | 22 Apr 2021

Benefits That Women Receive In India As A Homebuyer

Benefits That Women Receive In India As A Homebuyer

Saving money as fixed deposits and buying gold are some of the most favourite investments for women in India. With the progressive times, they have begun to widen their options in investment. In the last couple of years, they have shown keen interest in buying real estate properties, and the number of women as homebuyers is growing rapidly.​

Women in India, especially those who are working and living in urban regions execute the idea of becoming financially independent and owning assets. While the real estate market in India at present is witnessing the growth of women consumers, there are advantages of being a woman homebuyer as well.

Hence, let's take a look at the list of benefits that women receive in India as a homebuyer:​


1. Stamp duty for women is lower

To encourage women in real estate property buying, the government in India has introduced several measures to make home purchases for them a profitable investment. One such measure is the stamp duty where women are charged relatively low. Various states have various lower rates of stamp duty for women. For instance, women buyers pay 4% of the property value as stamp duty whereas men pay 6% in Delhi.


2. The benefit of lower interest rates on home loans

With the support of home loans provided by financial institutions, consumers make the bold move of owning properties with some amount of savings during the early years of their working life. However, the interest rate in a home loan increases the overall cost of the property. Such is not the case with women as several banks offer the benefit of lower interest rates on home loans to women.


3. Women are entitled to tax benefits

When both husband and wife are working, the chances of an increase in the loan amount gets more. When they decide to co-own a home, the salaries of both are taken into consideration. Another benefit of co-owning a property is, they can claim tax deductions on their individual incomes.


4. Pradhan Mantri Awas Yojana benefits for women

First of all, the government has made it mandatory to register the property in the name of at least one woman in the household if bought under Pradhan Mantri Awas Yojana (PMAY) scheme. Some special benefits for women under this scheme include loan up to ₹ 70 lakhs and no pre-payment charges.


The trend of women homebuyers is dominant in cities like Delhi, Mumbai, Bangalore, Kolkata, and Chennai as well as Tier-II cities like Jaipur, Chandigarh, and Lucknow. These cities offer them ample job opportunities, good quality of education, better lifestyle, etc.






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