Advantages of Owning Godrej Windsor Jointly by Married Couples |
Posted: August 14, 2018 |
It is said that "Times Are Hard But Sharing Them Makes Everything Easier". Likewise for a married couple when they decide to invest to buy a property like Godrej Windsor, sharing the burden of the investment gives a great relief and satisfaction amongst each other. If in case any married person finds it difficult to raise the purchase price or cost price of the property, they can take help of the spouse to jointly share the loan amount. Co-ownership is one of the common ways of purchasing the loan by the earning couples. Godrej Windsor in Greater Noida is one the ideal property for your joint purchase together. This Project serves as a marvelous investment to buy your dream home as per your desire. Before Buying A Property Together Know Few ThingsYou need to know certain things before you buy the property together. If your wife is the co-owner of the property, she can claim the deduction of income tax up to 1.5 Lakhs on the interest paid on the home loan. As an initiative to encourage women to progress in the growing economic trend, discount on stamp duty. 4% stamp duty is fixed for women buyers whereas 6% stamp duty is fixed for male buyers.
if you are not able to buy the property jointly, in such case, joint registration can fetch you 1% discount on stamp duty. In case of the demise of own of the co-owner, automatically other becomes the owner of the property. Before buying a property one need to know some things like registered sale agreement etc Finally The Advantages Of Buying Property with your spouseIf you own multiple properties, then registering the property in your spouse name will reduce wealth tax liability. If you are buying in your wife's name stamp duty charges can be saved. The income tax benefits, whether for principal repayment of a home loan under Section 80C or for interest on a home loan under Section 24b can be claimed as applicable. The smooth succession of the property happens legally if in case demise of any co-owner. Empowering women in this competitive world are of high importance. When a woman can financially help the family and contribute together for the investment it shows that she is strong and can support the entire chain of family. Finally, it reduces the burden on the single person having to pay the loan lifetime.
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