North India Statesman
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India’s real estate sector is changing rapidly and women are playing an important role in this change. Women are no longer to take decisions in terms of housing, but are emerging independently as a major buyer investing in real estate. According to a recent survey, 70% of women consider real estate as their favorite investment, and many of them want to buy a premium or luxury property worth over Rs 90 lakh. Due to the stock market fluctuations, many women have transferred their investment to real estate. The growing investment of women in the reely estate is investing more in real estate due to their economic freedom and financial awareness. According to anarock’s second half -yearly survey, 69% of the female buyers shop for the final use of the house, while 31% buy property for the purpose of investment. The ratio of investment in the stock market has come down from 20% to just 2% in 2022. In addition, women are choosing premium and luxury homes, showing their growing financial strength. Special plans for women and concessions and banks provide many schemes and encouragement to make it easier to buy homes for women. These incentives reduce financial burden and encourage women to invest in real estate. 1. The interest rate on home loans gives a rebate in interest rate ranging from 0.05% to 0.10% on home loans to women on home loans. For example, if the normal interest rate is 6.75%, women can take a loan at 6.65%. On a 20 -year loan of Rs 50 lakh, this exemption can save them up to Rs 1 lakh. More debt eligible women are considered less default at risk, making them more eligible for debt. For this, minimum age is 21 years, stable income and good credit score required. This relief enables women to buy high quality assets. 3. Stamp fees give 1-2% discount in stamp duty for registration of property in the name of women in the stamp duty. For example, Maharashtra gives a discount of 1% and Delhi 2%. This reduces the initial cost of purchasing property. 4. Tax benefits can avail tax exemption on capital up to Rs 1.5 lakh under Section 80C of the Income Tax Act and interest on interest up to Rs 2 lakh under Section 24 (B). If the loan is in the joint name of the husband and wife, the two can avail this exemption separately. 5. Under the Pradhan Mantri Awas Yojana, Principal Housing Scheme (PMAY), women of economically weak, low income group and middle income group get interest subsidy ranging from 3% to 6.5%. Under this scheme, it is mandatory to have at least one woman’s name in the ownership of the house, which promotes the ownership of women. This scheme can provide subsidy of up to Rs 2.67 lakh. How to use these benefits? Identification proof: PAN card, Aadhaar card, passport, voter ID or driving license proof: Aadhar card, passport, electricity bill or rental agreement: The latest 3 months salary slip, bank statements, income tax documents: Documents of Income Tax Returns: Property and other required documents and other documents, documents and other required documents. So that the debt process is not delayed. Women’s contribution to the registrarial estate is a symbol of not only economic freedom, but also social change. According to Anarock Chairman Anuj Puri, “The rising income and confidence of women are making them a big investor in the real estate market.” In addition, women also have clear priorities in terms of property size, location and budget, which are also giving shape to developers.
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