12th March 2020

Benefits for Women Homebuyers in India

With each passing day, women are announcing with every step that they are striving towards creating their mark in the world. The number of women homebuyers in India has consistently increased in the last few decades. Real estate companies in Kolkata constantly try to encourage women to invest in property. However, the ratio is still an imbalance. As per reports, 32% of buyers across the country are single women who contribute to decision-making in about 74% of all real-estate purchases.

To make it easier for women homebuyers, the government and banks offer concessions and other benefits to homebuyers, especially to promote more of property ownership among women. So if you’re looking to buy a home, here are some benefits you should know about:

Home Loans at Lower Rates: Home loans for women are available at concessional rates, generally with at least a difference of 0.05% or more. ‘Her Ghar’ scheme by SBI has waived off the processing fee for women home loan applicants. ‘Women Power’ by HDFC, and Mahila Awas loan are some other schemes which benefit women who are seeking home loans.

Tax Benefits: For women homeowners, there are extra tax benefits that can lead to saving costs. Women homebuyers can avail more tax deductions and claim up to Rs. 2 lakhs on the principal and interest repayment, especially for a self-occupied home. Under the newly implemented 80EEA Act, if a house is bought in the financial year of April 2019-March 2020 under Rs. 45 lacs, additional deduction of Rs. 1.5 lacs can be availed.

Benefits under PMAY: Under the Pradhan Mantri Awas Yojana, one female family member should be registered as the owner of the house. In the case of a woman holding ownership of the house, the Govt. provides a subsidy of up to a maximum of Rs 2.67 lakh. This has led to a 6% increase in applications for home loans by women.

Lower Stamp Duty: In many Indian States, stamp duty for women homebuyers is comparatively lesser than those applicable for men, generally by 1-2% which may sound less but makes a huge difference in the cost of the final property. This is valid whether the woman is the sole owner or joint owner of the property. 

Longer Repayment Tenor: Most banks tend to trust women more and provide a longer repayment tenor for home loans. The longer time period makes it much easier to repay the financial institutions as the overall installment amount that the principal and interest in divided into also reduce.

The cost of investing in property reduces for women owing to the various concessions and benefits made available by the government as well as private institutions. Srijan Realty, one of the top real estate companies in Kolkata strongly believes in equality and encourages homeownership by all genders. For any assistance when it comes to buying a home or to look at properties, visit

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