With increasing dispensable income among women, their inclination towards investment has seen a positive graph. They’re open to multiple investment options for portfolio diversification.

One trend that has always persisted in women investors is their intention of playing a balanced investment game. And one of the safest options in their category is real estate. Looking at the increasing interest women have shown in real estate investment, the Indian government has also provided some benefits for them.

6 Advantages for Female Real Estate Buyers in India

1. Favorable Loan Options and Lower Interest Rates:

Many banks and financial institutions in India recognize the growing segment of female homebuyers and offer special loan schemes with attractive terms. These schemes often translate to:

• • Increased loan eligibility: Women may be eligible for higher loan amounts compared to men for similar income profiles. This can significantly impact the kind of property you can afford.
  • Reduced interest rates: Several banks offer lower interest rates on home loans specifically for women borrowers. This translates to significant savings over the loan tenure. Popular schemes include “Her Ghar” by SBI and “Women Power” by HDFC.

2. Government Incentives for Women Homeowners:

The Indian government actively encourages women’s participation in the real estate market through various schemes:

• • Pradhan Mantri Awas Yojana (PMAY): This flagship program prioritizes affordable housing for all. Under PMAY, a woman, irrespective of her marital status, can qualify for a home loan subsidy or be a co-owner to avail of benefits. Additionally, if the property is solely owned by a woman, she can receive a higher subsidy of up to Rs 2.67 lakh.
  • Lower stamp duty: In most Indian states, women pay a lower stamp duty – a tax levied on property registration – compared to men. The exact percentage varies by state, but it typically ranges from 1% to 4%. For instance, in Assam, women pay 4% less stamp duty on urban properties with a value of 40 lakh rupees. This can result in significant cost savings at the time of purchase.

3. Tax Benefits on Homeownership:

Owning a property offers tax advantages, and women can claim these benefits alongside the standard deductions available to everyone:

• • Tax deduction on home loan interest: Both men and women can claim a deduction of up to Rs 2 lakh on the interest paid on a home loan. However, in a joint ownership scenario, if the woman is a co-owner and has a separate source of income, she can claim an additional deduction, maximizing the tax benefit for the couple.
  • Additional deduction under Section 80C: Women borrowers can claim an extra deduction of up to Rs 1.5 lakh on the principal amount of the home loan under Section 80C of the Income Tax Act.

4. Building Financial Security and Independence:

Real estate is a valuable asset class that appreciates over time. Owning a property provides women with a sense of financial security and empowers them to make independent financial decisions.

• • Long-term investment: Property ownership creates a valuable asset that can be passed down to future generations or used to generate rental income, providing a steady financial stream.
  • Hedge against inflation: Real estate prices tend to rise with inflation, protecting your investment from the eroding effects of rising costs.

5. Greater Control and Decision-Making Power:

Taking ownership of a property allows women to have a greater say in where they live and the kind of environment they create for themselves and their families.

• • Choice of location and amenities: Women can choose a property that caters to their specific needs and preferences, be it proximity to work, family, or amenities like schools and healthcare facilities.
  • Safety and security features: When purchasing a property, women can prioritize features that enhance safety and security, creating a comfortable and secure living space.

6. Empowerment and Confidence:

The entire process of buying real estate, from research and negotiation to final ownership, fosters a sense of empowerment and self-confidence in women.

• • Financial literacy: The process of buying a property encourages women to become more financially literate, gaining valuable knowledge about loans, taxes, and property management.
  • Independent decision-making: Taking charge of a significant financial decision like a property purchase builds confidence and demonstrates a woman’s ability to manage her finances effectively.

Beyond the Advantages: Additional Considerations

While these advantages make real estate an attractive option for women in India, it’s important to remember some key points:

• Do your research: Carefully evaluate your needs, budget, and preferred location before finalizing a property.
• Seek professional advice: Consult a lawyer and a financial advisor to ensure you understand the legal and financial implications of buying a property.
• Negotiate effectively: Don’t be afraid to negotiate the price and terms of the property with the seller or developer.
• Choose the right property: Consider factors like safety, amenities, proximity to essential services, and future appreciation potential.

Royal Greens, situated in Nilanjanpur, Vijaynagar, is currently a location-lucrative property. With over 200 happily settled families, this property offers an expanse of space for laughter and smiles. The township offers 2 or 3 BHK flats each with a pleasing view of nature in all its simplistic glory.

With careful planning, leveraging available benefits, and seeking expert advice, women can navigate the real estate market confidently and secure their dream home. So, take charge, explore the options, and embark on your journey towards a secure and prosperous future.