Property Registration: Planning to buy a house? Save lakhs of rupees by getting the registry done in the name of your wife, you will get double benefit..

If you are planning to buy a house, then a small thing can save you lakhs of rupees. That is – getting the house registered in the name of the wife. Yes, just by changing the name, you can get a good discount on stamp duty and tax. In many states of the country, women have to pay less stamp duty on property registration.

Benefits of getting the house registered in the name of the wife
This is the reason why now many people are getting the registry done in the name of the wife (Property Registry charges for Females) while buying a house so that they get benefits. However, the exemption in stamp duty given to women on property registration is different in different states.

For example, in Delhi, if a house is bought in the name of a man, then a 6% stamp duty (Stamp Duty & Registration Charges) has to be paid. But if the same house is in the name of a woman, then the duty will be only 4%.

Suppose the price of the house is 50 lakhs, then the man will have to pay 3 lakhs while the woman will have to pay only 2 lakhs. That is a direct saving of 1 lakh.

On the other hand, if we talk about any other state like Rajasthan, if the property is taken in the name of both husband and wife, then an extra discount of 0.5% is given.

The benefit of a home loan at a low interest rate
Not only this, if you take a home loan in the name of the wife, then also there is a benefit. Many banks and financial companies give loans to women at lower interest rates. This makes a difference in your EMI and the total expenditure on the loan also reduces.

How will you get the double benefit?
If you get the house registered in the name of your wife and also take a loan in her name, then you will get a discount on stamp duty and also benefit from the loan. That is, if the planning is right, you can save lakhs of rupees. So while buying a house, just think a little smart, and make a decision where you see benefit.

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