Bangalore: Buying a house in your wife’s name will surely make your wife and your in-laws happy and the best is you can also save some money. In many states, the registration cost of property for women buyer is kept low by 1 to 2 percent stamp duty. When you buy a property and pay tax to the government for getting the property transferred in your name is what we call the stamp duty. Even after buying a house when you gift the same house to your wife, you can still avail the benefits of paying lesser stamp duty as reported by Amit Shanbaug from ET bureau.

Empowering women

This initiative was taken by the government with an aim of empowering women. Holding property rights would help a woman to improve her economic status and will also safeguard her from exploitation.

In reality this initiative is more used for commercial benefit than for any social cause. “Nearly 75 percent of all transactions involving women buyers are for trading. The male members buy a property and get it registered in the woman's name to benefit from the 2 percent low transaction cost. Then they resell the property for a profit within a short span of time,” said Naushad Panjwani, Executive Director of Knight Frank India, ET bureau.