Most maidens are perfectly capable of rescuing themselves in
my experience, at least the ones worth something, in any case – Erin
Morgenstern, author.
This quote pretty much sums up the context of the blog that
follows. A woman is perfectly capable of taking care of herself and others (in
most cases). Well, if she can take care of herself, then why does the society
frown when a single independent woman tries to buy a property for herself?
Mother’s Day just passed us India as a nation opening up to
the idea of feminism; we look at various reasons why women and especially
mothers should invest in real estate:
Tax Rebates: Not restricted just to women, investing for a
home is the best way to reduce tax burden. However, women do have the upper
hand; they can claim up to two lakh as tax deduction on the interest paid.
Similarly, if a house is owned conjointly, two lakhs can be claimed as tax
deduction on the interest that has been already paid.
Discounted Home Loans: Many banks offer home loans at a
discounted interest rate for women. Though the interest rate for women that has
been decreased is nominal (maximum of 0.15%) the difference it has in the end
is substantially high. In addition, women can easily land a home loan as banks
consider them loyal in making monthly payments.
Higher Income Slab: With more women joining the workforce,
there is an exponential rise in salaries paid to them. It is a known fact that
if the prices of consumer goods rise, they amount spent on them would also
increase. Thanks to this scenario, we see a rise in households that have two
incomes. This indefinitely means a fair amount of money will be saved as well.
We advise to use the saved money to invest in property as cash in on the rents
received.
Reduced Stamp Duty: Stamp duty for women is at a discounted
rate. If a house is conjointly owned, the rate is even lower. However, the
stamp duty is levied when a house is bought. The rate is usually the market
value of the house.
Wealth Tax: The union budget of 2015-16, the new government
announced the abolishment of wealth tax. Your spouse, if buys a property in
your name, you can now claim exemption from wealth tax. Although, this will be
categorized as ‘Benami’ transaction.
Average Age of Marriage: In the last few years, properties in hyderabad the average
age of females getting married has shifted from early to late twenties. With
many women pursuing their higher education, focusing on their career and opting
to live away from their hometown, the average age of women who are getting
married has risen exponentially. Many women, like men, are striving for
economic and social stability, and what gives more stability than owing a home!
So this woman’s day, take a firm decision of owning a home
of your dreams. What do you think about this blog post? Share your suggestions,
feedback and thoughts on this post by commenting below.
