The joy of your own home

The joy of your own home

The number of jobs available to women grows along with the economy's purchasing power. This increases the success of industries that formerly specialized only to male customers but are now expanding to them. These include the real estate, car, and sports industries, all of which have seen a significant shift in their clientele over the past several decades.

As you enter your home, you are able to sigh with contentment. At that very moment, the sense of relief and exhilaration is immeasurable. And if you are the home's owner, you will wholeheartedly concur with this statement. You momentarily remember the work and hardship it took to secure your own spot at that very time. You can never be deprived of the freedom, security, and comfort that comes with owning your own home. It is a space for you to retreat to and a resource you have accumulated for your later years.

They are the secret to a changing and expanding real estate market, as more and more women become financially independent and live away from home. This is acknowledged by a number of real estate organizations and developers, some of whom specifically cater exclusively to female purchasers in their developments. These real estate organizations are aware that modern women strive for independence at a young age. And one of the essential elements of defining oneself as independent is owning property.

Things you should know before buying a house

The backbone of the family is a woman. They must be strengthened in every manner conceivable. Today's women are fully capable of managing their lives on their own since they are generating their own income, setting money aside for the future, and contributing to the success of their families. The Indian government has eased some of the requirements for female property purchasers in an effort to empower women and encourage them to purchase homes. 

Female buyers benefit from streamlined processes and discounted registration costs. Use this guide to learn how to take full advantage of the measures put in place by the Indian government to promote women to own homes.

Prepare in advance for the purchase of a home.

Saving up a sizable amount in advance is necessary when purchasing a house. The type of property you're searching for, the property's potential for returns, etc. are a few factors that determine how much cash you'll need on hand to make a significant decision like real estate investments. There are many sugar-coated lures floating around in the form of "book now, pay later" and "EMI only after possession" schemes that are primarily launched to persuade people into purchasing properties; however, the best way is to earn much more money and save much more money for the down payment before looking for the best suitable option.


Consider the surroundings and the neighborhood carefully. For a more affordable price, it is better to try a location near your city's busiest district. The location of your property will have a big impact on its resale value. Making the right decision might make your house your finest investment.

Rents in the area 

Homes in high-rent or densely inhabited locations provide the best investments for rental properties. You can select the ideal house and location by being aware of the neighborhood rental rates.

Good resale value

Resale industry value is an important consideration when making an investment or buying a property. The resale value of a house is never taken into consideration by buyers. They focus incorrectly just on a desirable location or the range of prices for the property. If you choose the wrong home or location, your future sales price may always be lower than those of the surrounding properties.


First and foremost, one should be aware of how much of your monthly salary and savings you may set aside for property payments. In order to avoid long-term financial trouble with your real estate investment, the EMI amount for a house loan should be accurately assessed.

Second, after finishing their reflection, female house purchasers can approach financial firms that offer home loans. They must ascertain whether the house loan funding institutions have authorized the neighborhood where the property is located. Before and during the application for a house loan, the following key checks are necessary:

  • Confirming that the property has a clear title.
  • Necessary approvals from all relevant organizations.
  • The property has no pending dues with any organization.
  • The property complies with all applicable construction codes and laws governing residential use, etc.

Stamp duty and registration fees

Similar to the sales tax and income tax that are gathered by the government, stamp duty and registration fees constitute a significant cost or tax. Setting your property budget and deciding whether to buy a home ultimately depends on your understanding of the rates and fees that are applicable in your city. You must discover your valuation zone and sub-zone by contacting the Ready Reckoner if you want to find out the market worth of your estate and the stamp duty amount associated with it. Find out the stamp duty payment that applies to you based on the valuation of the property.

Additional costs 

Even if this is not your first time purchasing a property, you should seek the assistance of a group of experts. It is important to include the costs of real estate agents, mortgage brokers, lenders, home inspectors, land surveyors, attorneys, and notaries. Find out how much the maintenance price is. Will parking be offered, and if so, is there a charge? If your previous owner didn't have a car, ask the secretary for a parking space.


Connectivity is essential for increasing the market value of your home or luring in renters. Make sure the building is at a convenient location with good access. Purchasing real estate close to transportation hubs like the airport, train stations, bus stations, etc. is excellent and advised.

Neighborhood Amenities 

When looking for a new house, the standard factors of location, cost, and layout must be taken into account. One of the crucial factors to take into account when buying a house is the neighborhood amenities. Include the vicinity of schools, hospitals, banks, retail malls, restaurants, entertainment venues, and parks while compiling the list of amenities.

Peak Hour Traffic

Working professionals or residents strive to avoid certain regions or parts of a city that are notorious for traffic congestion. To obtain a sense of the area at various times of the day and week, drive by the property during periods of high traffic. Check the volume of passing traffic, if it would be noisy during peak hours, and other details.

Legal advice and documents required to own a home

Legal counsel is required for all property transactions, including development, acquisition, sale, and leasing. Investment in real estate is a tremendously lucrative kind of investment since property values are always rising. Real estate investing requires more than just purchasing and selling; you also need to understand the local rules that apply to the property. You must establish an agreement and get legal counsel prior to purchasing the property.

When you go to purchase your own house, you let your feelings sway your choice. Having a house of one's own inspires pride and freedom in many people. Keep in mind that your first home is rarely your last, so prioritize meeting your immediate property needs before thinking about the long term. Whatever you choose to do, keep in mind that purchasing investment property is a very different process than purchasing a personal dwelling. Before you decide to invest in or purchase a home, you should take into account the resale value. Understand the regulations governing property purchases before making a purchase decision, and work with a team of specialists to make the home-buying process quick and straightforward.

Here are a few legal documents that must exist when you consider purchasing a property to help you understand:

  • Certificate of completion and commencement.
  • Certificate of no objection for non-agricultural land.
  • A title or ownership document.
  • Connection permits for water and electricity.
  • Occupancy certificate (OC).
  • A flat's floor plan or an approved building plan.


Property insurance protects your financial future in the event that your property sustains specific losses. The fee is rather inexpensive and offers protection in the event of title issues, specific damages, or other legal issues. There are several different house insurance plans with various levels of coverage from which to select. It is crucial to have a resource you can rely on to lead you when making a decision to preserve your significant assets. The correct home insurance protects your investment and streamlines the purchasing process.

Tax Planning 

Tax planning is a valid activity that is distinct from tax avoidance and tax evasion. According to the Income Tax Act, tax advantages may be claimed on both the principal and interest portions of the mortgage. Property can be bought in joint names as well. A joint mortgage is a choice that married couples may find advantageous. Understand your house loan and any applicable tax benefits.

Builder’s reputation

The reputation of the builder, or the strong reputation of the builders in terms of turning over ownership of the apartment to the buyer within the agreed-upon timetable, should also be evaluated concurrently with these checks by female property purchasers. Additionally, it is possible to verify if the suggested payment schedule and the loan parameters for the home are in line. The customers must fully comprehend that the required payment cannot be avoided for any reason, and they must always be ready to make the payment as soon as the due date approaches.

The builder's credibility may now be determined by checking for RERA registration and GST number availability.

Benefits women home buyers enjoy

Thankfully, several jurisdictions offer some extremely unusual benefits to the property with a woman's name on it. These advantages persuade spouses or other male family members to designate the woman as the property's owner. Such advantages include:

  • Women pay less to register their properties because, if they are the only owners, there is a reduced stamp duty rate that applies to their property.
  • If a woman takes out a house loan as the property's original owner, the interest rate will be lowered by 0.25 to 50 percent.

Additionally, if spouses choose a women's name property, the income tax advantages can represent a valuable choice. For instance, when a husband and wife purchase a home under a joint ownership arrangement, they each receive a deduction of Rs. 2 lakhs for interest payments and Rs. 1.5 lakhs for loan principal repayment, in accordance with the proportion of ownership specified in the sale agreement.

Certainly, the most important factor in determining whether properties are suited for female house purchasers is affordability. The emphasis should be on the sense of security if money is not a concern. The demand for communal living or homes in residential complexes with adequate security systems has significantly increased as more and more single women hunt for property. Women should seek out residences that may provide them with a sense of security, independence, and convenience in terms of commuting.

Real estate thus cannot be ignored at a time when women's empowerment is a hot topic. The benefits of tax relief, cheaper female property registration, and eventually higher returns are definitely the greatest moment to encourage female home purchasers.

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