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Why Should Married Couple Own A Property Jointly?

4 Advantages of Owing A Property Jointly With Your Spouse

Indians are leaving no stone unturned when they are making a big financial decision like purchasing home in life. Apart from choosing a right property with the right home loan lender, the focus is being levied on availing as many benefits as possible on their home purchase.  They are taking an effort to directly deal with the sellers rather than brokers to save a good deal of money. They are acting smart in choosing the best financing option or tax benefits. One such smart way that has become quite popular during the recent times is to register the property jointly with the wife/ spouse. Let the article discuss intangible benefits that one will enjoy on registering the property jointly with spouse.


Gone are the days when house expenses were handled by the income of a single person. Wife is joining their hands in taking care of the expenses of the family. As you know that income of the person decides the home loan amount. Having an earning partner as the joint owner of the property will increase your home loan eligibility.  When the combined income slab of the borrower is high, the lender is at lower risk while sanctioning the loan so, there are good chances that you will get the housing loan at the better interest rate.

Tax benefit

You will enjoy a tax benefit on the proportionate basis when you take the home loan jointly with the spouse. You will claim a tax deduction of 1.5 lakh for the principal repayment and 2 lakhs for interest payment on the housing loan. Both of them will stand eligible to enjoy tax benefits under income tax act with respect to their interest and principal paid during the year.
Stamp duty

You will gain some special benefits on the stamp duty when you have women partner as co-borrower in the house loan. The stamp duty paid by the women is a bit low when compared to that of man in most of the states in India.


Life is uncertain, unexpected events may knock your doors at any point of life. Though it is impossible to fill the gap in case of your death. It is your responsibility to ensure that there is an easy succession of your property to the partner. It is difficult for your partner to go through the lengthy process of transferring the property to their name during the painful time. The best way to pave an easy succession path for your partner is to own your dream home jointly by taking the home loan as co- borrower.


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