Anuj Goel Ganga | Benefits of Buying a New Flat in Your Spouse Name In Pune

Purchasing a home for a family is a part of a dream these days. These decisions require ample research. With the amount of analysis, choosing the homeowner from the family members becomes a task as well. Preferably, most of the buyers take the decision only when both the spouses are ready for the same. Notably, in countries like India, home buying has equivalent emotional value along with the financial value. According to Anuj Goel Ganga attaching your spouse’s name, with the home not only enhances the opportunity to feel ownership and increases an emotional attachment, but it also adds various additional benefits.  

Stamp duty

It is one of the integral parts of buying property. At times, it is not covered by agencies providing housing loans. It is a charge payable on the sale agreement on or before the date of property registration. To encourage more woman buyers in the realty sector, relaxation of stamp duty is provided by 1-2%. Adding your spouse to the ownership of the property will make you save a considerable amount in stamp duty charges. Maharashtra has lauded a 1% concession on stamp duty charges from April 1, 2020. This leads to an ease in buying a reliable dream home, states with Goel Ganga Developments Pune.

Improved loan eligibility

Another benefit of adding a spouse as an owner would enhance loan eligibility. Applying for a loan via home loans will make a higher amount available according to the net income of your spouse. Loans can be availed in a larger proportion if the home is purchased as Co-Owners.

GoelGanga Developments Owner explain that purchasing a home in spouse’s name has direct and obvious tax benefits, including a deduction of INR 1,50,000 every financial year, under section 80C. An additional of INR 50,000 would be claimed if the principal amount of the loan is re-paid.

Extra discounts

Many banks and agencies offer extra discounts to women on home loan interest rates as compared to men. Nearly the difference varies between 0.5-1% depending on the companies. The company helps its customers to find the appropriate housing loans as required. This can be a treat to delight by adding your spouse’s name to the property by showing equality. This sweetens the relationship between you and your spouse.

To increase the number of women buyers 

The interested women who are desirous to invest in real estate, the government of India has introduced a lot of home loan benefits. With the government’s implementation of the Pradhan Mantri Awas Yojana (PMAY) scheme that provides interest subsidies while making adult female ownership, the incentives for women to become homeowners have increased.

Since 1982, Goel Ganga Developments Pune has worked with a commitment to provide affordable and comfortable housing in different localities of Pune like Kalyani Nagar, Hinjewadi, Magarpatta city, Hadapsar, etc. With more than 20,000 happy families the company promises to maintain the balance among the home buyers and encourage women as co-owners to their residence.