Maharashtra Deputy Chief Minister Ajit Pawar, who is also the minister for finance and planning has proposed a 1% concession on the current stamp duty for women homebuyers in the state's budget for 2021-22. This concession will be available only to women buyers if the house property is sold or the sale deed is registered in their name.
This move will encourage women and families to purchase properties in her name, resulting in a rise in women house ownership. Millennial women are increasingly taking on a more active part as homebuyers, in addition to being a home maker. The proposed 1% stamp duty reduction for women homebuyers in Maharashtra's state budget would encourage more women to buy homes and invest in real estate. Consequently, women buyers will now have to pay only 2% as the stamp duty on property value. Amid the concession, a revenue shortfall of Rs 1,000 crore is expected.
The majority of women are now purchasing homes, not only as an investment but also as a way of securing their financial future. The government's action demonstrates their support for female home buyers. It will also help to provide security to women who are financially dependent on their husbands, as more men will buy homes in the name of women of their family.
When it comes to buying a home, women have long been recognized as an important part of the decision-making process. Women are now self-sufficient, empowered, educated, and employed. Recognizing this and paving the way for women's empowerment is a step in the right direction.
Key words- 1% concession on stamp duty for women homebuyers, Stamp duty concession, Women empowerment initiative, Maharashtra government, Maharashtra Deputy CM Ajit Pawar, Real estate news, Homebuying, Initiative for women, State budget 2021-22.