If you are planning to invest in a house or property, then think about getting it in your wife’s name. There are plenty of benefits in doing so. The top three benefits are:
1. Tax savings:
If you are planning to purchase the house for self-occupation, then you will be able to avail tax deduction in interest. You can save up to Rs. 1.5 lakhs every year. Imagine, how much money that will add up to by the time you complete paying off your home loan.
2. Bank loan interest savings
Yes, banks are partial to women. They offer home loans at a lower interest rate for women when compared to men. So, you can save loads of money that could be spent on interest when you get a house in your wife’s name.
3. Reduced stamp duty charges
Even the government favors women investing in property. Certain states offer a reduction of stamp duty charges if the property is purchased by a woman.