Investing in property has traditionally been considered the job of men. The main reason for this is that women have no career or business opportunities before. But now they are getting these opportunities. They now save, invest and take other important decisions related to money. In recent times, women have started investing in real estate because it is one of the safest and most profitable options for investment. With this, women not only have a regular income but also get the benefits of tax. Therefore it becomes even more necessary for married women to invest in it.
Know some of its benefits
Benefits of tax
If the house is in the name of both the wife and husband and they live in that house themselves, then interest on home loan is exempted from tax. If there are different sources of income and fill different returns, then both husband and wife can get exemption up to 2 lakhs under section 24. Tax is also exempt on payment of principal amount, stamp duty and registration charge. That is, a lot of tax can be saved.
Registry-stamp duty exemption
Many states have launched a variety of schemes for women buying property, which include stamp duty and exemption on registration. This is to encourage women to invest in property. So whenever you buy property, be sure to know all the schemes of the respective state.
Low home loan interest rates
Most housing finance companies and banks provide home loans to women at low rates. The interest rate for women is generally lower by 0.05 per cent as compared to the rest. This may sound small, but when it comes to loans ranging from 20 to 30 years, 0.05% can also save a lot. Another aspect is that the home loan interest rate has increased in the second quarter of the financial year 2018-19 after continuous fall. As this trend can continue even further, women will save more if they invest in property.
Rental income
Investing in property is one of the safest means to get regular income. As the family grows, more funds are needed for children’s education, college, marriage, etc. This can be met by renting the property. Generally, there is also an increase of 5 to 10 percent in the rent every year.
Resort to trouble
Life is full of uncertainties. Divorce rate has increased rapidly. There are also economic risks. Like going to work. A woman married to all these can get into financial problem. Investing in property can prevent this.
Know these before investing
When investing in property, be clear about your goals. For example, if the property is being taken for own use, then ensure that the property is at a good location and its physical and social infrastructure is developed. All facilities are also necessary. If the property is being taken for investment purposes only, then take it in an area where the prices will increase more and the rent is also higher. See also the builder’s credibility, so that there is no risk of getting caught in a legal case going forward ATS Kabana High.
