Purchasing a residential property for investment? Well, be sure you purchase it in your lady’s or daughter’s title if you’d like to conserve money, as some states offer relief in the shape of reduced stamp duty prices for ladies purchasers.
Uttar Pradesh, Delhi, Punjab and Haryana offer an exemption to females purchasers from the taxes paid to the continuing local government once you purchase home and obtain it transmitted within their name. If you purchase a set for Rs 1 crore in Delhi, the stamp responsibility for a buyer that is male be Rs 7 lakh. This is because in Delhi a woman needs to pay a stamp duty of 5 percent compared with 7 percent for men and 6 percent for a married couple, Mudassir Zaidi, regional director at KnightFrank told Firstpost for a married couple it would be Rs 6 lakh and for a woman buyer it would be Rs 5 lakh. Continue reading