Why You Should Buy Your Home In Your Wife's Name?

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stamp duty for property purchase in India

Getting you nameplate on the home you buy is one of the most delightful experiences. However, if changing it to your wife’s name can save great money and earn perks, who would mind doing that. We know that buying a home for a common man is one of the most important steps of life, in which he has to invest a great amount of his hard earned money, so in that case, any options that make financial sense and save bucks can be a great relief. In order to empower women, the government of some Indian states has given a lot of benefits and exemptions for the women property buyers. See how empowering your wife by purchasing property in her name can empower you in the real sense:

Save On The Taxes
The biggest reason why you should buy your home in your wife’s name is that it enables you to save large bucks on the taxes. Women homebuyers, buying self-occupied homes, are eligible to enjoy a tax deduction of up to Rs. 1.5 lakhs on the interest every financial year for the home loan taken in their name. Moreover, women buyers are also liable to avail a tax benefit of Rs. 1.5 lakhs on the actual principal amount of the home. In case the house is purchased on joint ownership, both the husband and the wife can claim for tax deduction individually citing different sources of income.

Welcome Tax Rebate
Buying a home on your wife’s name can help you welcome income tax rebate on the interest paid on the home loan. Women homebuyers can avail a higher tax rebate on the housing loan that they take on their name. This will, in turn, reduce your tax burden and eventually reduce the overall burden of home loan. Women in India are offered a number of tax rebate offers to empower them into buying home in their name.

Get Concession On Stamp Duty
The stamp duty for property purchase in India can be pretty high. However, if you are buying a home in India in your wife’s name, she can avail discount offered to women on the stamp duty for home registration. It is one of the most effective initiatives by government to incentivize property ownership by women. The stamp duty charge for women can be as much as 1%-2% lower than her male counterpart. In Rajasthan, the stamp duty for women is 4% while that for men is 5%. Similarly, in Haryana and Delhi, the stamp duty for women is only 4% while men have to pay a stamp duty of 6% for their stamp duty. This one or two percent may actually account to a saving of lakhs in stamp duty registration.

Enjoy Lower Home Loan Interest Rates
The interest rate for female borrowers on home loan can be as much as 0.5% lower than the normal interest rate. While the number might appear small but seeing that the home loan amount can be in lakhs, even a 0.5% for reduction in interest can save hundreds of thousands. Here is the list for the interest rate for female borrowers and the normal rates.

BankNormal Interest RateInterest Rate For Female Borrowers
HDFC Ltd8.55%-9.2%8.5%-9.15%
ICICI Bank8.6%-9.05%8.55%-9%



These are some of the benefits that you can have if you buy your home in your wife's name instead of your own. It would not just help you avail discounts on taxes and interest rates but also let you enjoy various special schemes. Schemes like gold vouchers for the women homebuyers are also attracting many people to get their home registered in the name of their wives.

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  • Admin

    sanjay sharma

    12 December, 2018 at 5:28 pm

    Very nice article and keep this good work rolling. Regards sanjay sharma

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  • Admin

    Liza Sharma

    04 October, 2018 at 12:28 pm

    Wow! thanks for the information. Me and my Husband, we are planning to book a house.

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  • Admin

    Vivek Saxena

    25 July, 2018 at 3:50 pm

    Thank you very much for writing on this topic and unfolding the truth behind it.. I really appreciate your insights, and am looking forward to implementing many of your suggestions. Thanks a lot.

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  • Admin

    Marik Caste

    25 July, 2018 at 4:02 pm

    Your blog is very helpful for us as it covers a wide range of things and all different topics at the same time. I appreciate the kind of effort you guys are making. Thanks a lot.

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