Why Should Married Couples Own Property Jointly? Top Benefits!

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Why Should Married Couples Own Property Jointly? Top Benefits!

The fun of buying a property becomes double when you do it jointly. Read this blog and know the advantages of investing by the premium property brokers in Newtown.

With the advancement in technology, the way in which people invest is also becoming advanced. Homebuyers now make wise decisions about buying or selling houses. They want a fruitful result when they buy the best residential projects in Rajarhat. 

The Benefits Of Owning A Property Jointly By Couples

1. Extension Of Loan

When a bank grants a loan, it analyzes the buyer’s income. Further, it limits the amount as per his earrings. However, the scenario is different for married couples. Because when a couple applies for a joint loan, there is an extension of the loan amount. Once the property consultant in Newtown investigates your income, you get the property. 

2. Co-Ownership Is Advantageous 

A single-owner generally has a lot of work to do, including the paperwork and more. Additionally, if the sole owner dies, transferring the rights of the real estate to its successors becomes very difficult. When property dealers in Newtown give a home to a married couple, there are no such kinds of troubles. Both wife and husband can enjoy equal ownership of the property. 

3. Associating Tax-Saving Facilities

According to the Income Tax rules, when a property developer in Newtown gives a joint property, the co-borrowers can enjoy certain benefits. They can make the most of a tax exemption upto Rs. 1.5 lakh on their principal investment. Under the repayment of interest, this amount goes upto Rs. 2 lakh. These tax benefits have been categorized under Section 80C and Section 24. 

4. Debt Burden Becomes Less

The loan eligibility generally determines the budget to buy a residential building Rajarhat and has a specific limit. Consequently, when you buy a property jointly, the debt burden reduces significantly. Moreover, it also paves the way for a greater loan amount as two incomes are taken into consideration. A joint home loan is easily applicable along with their parents, siblings or spouse. 

5. Stamp Duty Benefits The Women Borrower

States like Delhi, Punjab, U.P and Haryana offer relaxations in stamp duty for female buyers. Hence, enjoy stamp duty relaxations in housing development in Newtown if you are a woman borrower. Also, banks like SBI, ICICI and HDFC give greater loan interest rates to women. 

Conclusion

If you are a couple that wants to invest in upcoming residential projects in Rajarhat, contact Property 360. The top property brokers in Kolkata give you optimum solutions for buying properties. Hence, approach the leaders today. Call us now at, +91 83358 04221