Purchasing home for investment? Well, be sure you purchase it in your spouse’s or child’s title if you’d like to cut costs, as some states offer relief in the shape of reduced stamp responsibility prices for ladies purchasers.
Uttar Pradesh, Delhi, Punjab and Haryana provide an exemption to ladies buyers regarding the taxes paid in to the local government once you purchase a residential property and acquire it transmitted inside their title. If you purchase an appartment for Rs 1 crore in Delhi, the stamp responsibility for a male customer would be Rs 7 lakh. For a married few it will be Rs 6 lakh as well as for a female customer it might be Rs 5 lakh. Simply because in Delhi a lady has to pay a stamp duty of 5 per cent compared to 7 per cent for males and 6 % for the married few, Mudassir Zaidi, local manager at KnightFrank told Firstpost.
Purchasing a residential property for investment? Well, make sure it is bought by you in your spouse’s or child’s title should you want to save yourself mone