The Advantage Of Buying Property In Name Of The Wife

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The Advantage Of Buying Property In Name Of The
Wife
Mar 2018
In Green Homes
The purchase of property is certainly a big thing
as keeping the monetary issues, social circle,
future security and your financial status, all at
stake. Thus, people take a lot of time for
searching for the correct home. But, many people
do spoil the deal by deciding to purchase the
property in their name. This certainly can cause
property little costlier than its original value.
Of course, purchasing a house is nothing less
than achieving something huge in life and also
key to happiness for the couples. Thus, it is
important to understand that the fact you can
actually enjoy perks by having property in the
name of the spouse.
Yes, one can buy a house in the name of the wife
and bear the joy of being the owner of a
property. Here are some advantages of buying a
property in name of the wife.
Tax exemptionBuying a house in the name of wife
would get you extra1.5 lakh deduction in each
financial year, only if you are planning to
self-occupy the property. This is certainly
possible in the case the wife is a homemaker.
But, if the wife is working and is a professional
and have a proper monthly income then both you
and your wife can avail the tax deduction
individually. Discount on the stamp duty In
present times, most of the states in the country
offer partial wave-off on the stamp duty
especially in the case when you buy property in
the name of wife. This is one of the numerous
ways to empower the women as male counterparts
show a lot of interest in owning a property in
the name of their better halves to enjoy various
benefits. The women empowerment means that the
lady of the house gets legal right on the
property which basically means she shouldn't be
scared of domestic violence or any other type of
the ill-behavior.
Save money on stamp duty Well, this specific
charge varies from one state to another but one
thing is same among all and that is the
difference in the charge of the stamp duty
between the men and women. Generally, the men do
have to bear a higher percentage of the stamp
duty whereas the women experience the lower rate
for the same. Home certainly is one such place
that stands by your side no matter how tough the
time actually is. Thus, it is important to decide
sensibly about each and every detail while buying
a property.
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