Loan Against Property


Our Loans Against Property can help you through life’s biggest moments. Weddings, personal passions, educational fees or career changes - we’ve got you covered. Refinance any existing commercial or residential property at the best rates today.


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Udyog Loan Against Property


Are you an MSME owner looking to scale your business operations? Take your business to new heights with Godrej Capital Udyog Loan Against Property. Our loan solutions enable business owners to get higher loan eligibility by allowing multiple sources of income to be considered. With quick loan approvals and attractive interest rates, our goal is to help your business achieve growth.


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Commercial Property Loan


Take your business to the next level with a Commercial Property Loan that finances construction, extension or improvement to make your business goals become reality. With plans designed for your life, you can rest assured that your business empire is in safe hands.


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Balance Transfer


Transfer your existing loans to Godrej Capital and experience the benefits of lower interest rates, flexible repayment terms, and significant EMI savings. Enjoy higher eligibility, along with a Top-Up loan, to take care of your extra needs.


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Home Loan


Seeking a Home Loan to buy a ready-to-move-in property, an under-construction house, or renovate your current residence? Our Home Loan, featuring low interest rates and flexible EMI plans, is specifically designed to help you accomplish buying your dream home.


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Plot Loan


Found the perfect spot to build your future? Our Plot Loans can help make it yours. Our loans offer you the financial help, low interest rates and flexible payment options you need to construct the home of your dreams.


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Professional Loan for Doctors


Whether you need working capital to start your own clinic or upgrade your current practice with new facilities and hire skilled staff, our professional loans for doctors are here to help you.


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Professional Loan for Doctors


Whether you need working capital to start your own clinic or upgrade your current practice with new facilities and hire skilled staff, our professional loans for doctors are here to help you.


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Professional Loan for CAs


Want to scale your professional practice? We now offer professional loans for doctors and chartered accountants (CAs) to help you expand your existing set-up, hire more staff, buy modern equipment, and fulfil other business requirements to improve and develop your services.


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Business Loan for MSMEs


If you're an entrepreneur with a small business or an MSME and are aspiring to take your venture to greater heights, you're in the right space! While you hustle for your company's success, we stand prepared to accompany you on this journey. Access unparalleled funding possibilities with our MSME-focused business loans, aligning seamlessly with your endeavors for business growth.


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Business Loan for Women


Are you a woman entrepreneur with a vision for business growth? We are excited to fuel your ambitions with our women-centric business loans. Whether you're spearheading a small-scale business or a micro enterprise, our MSME-focused business loans are designed to meet your business needs.


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Business Loan


We give you the courage to take that next step that your business needs. Godrej Capital Business Loans empower you with customizable financing solutions to grow your business to the next level!


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Home Loan Tax Benefits for Women

Owning a home is a significant milestone for many individuals, representing stability, security, and a sense of accomplishment. For women, in particular, the journey to homeownership can be empowering, and understanding the tax benefits associated with Home Loans can make this journey even more rewarding.

In recent years, there has been a notable rise in the number of women taking charge of their financial futures, including spending on real estate. Whether for investment purposes or personal use, purchasing a home is a significant decision. Fortunately, various financial benefits, particularly in terms of tax deductions, are available to women who opt for Home Loans. There are various tax benefits available to women who avail of housing loans, helping them make informed decisions and maximize their savings. Let's delve into these benefits and explore how women can leverage them to their advantage.


Understanding Home Loans

A Home Loan is a powerful financial tool that opens the door to homeownership, enabling individuals and families to fulfil their dreams of owning a home. A lending solution provided by banks and financial institutions, Home Loan enables aspiring homeowners to purchase residential properties with ease and confidence.


At its core, a housing loan offers the opportunity to acquire a cherished asset - a house or apartment - by providing the necessary funds upfront. This enables you to bridge the gap between your savings and the cost of the property you desire, making homeownership accessible to a broader segment of the population.


Moreover, Home Loans come with the added benefit of tax deductions, particularly for women, allowing borrowers to save money Deductions on both the interest and principal repayments can significantly reduce the overall tax liability, making homeownership not just a dream but a financially savvy investment.


Also Read: New Tax Regime vs. Old Tax Regime: Know the Difference & Effect on Home Loan


In addition to this, a Home Loan for women is designed to help women purchase residential properties. It often comes with benefits such as lower interest rates, special schemes, and discounts, making homeownership more affordable and accessible for women.

How is a Home Loan Beneficial for Women Beyond Tax Benefits?

While tax benefits are a significant advantage of a Home Loan for women, there are several other benefits to consider:

  1. Homeownership: Perhaps the most significant benefit of a Home Loan for women is your ability to purchase your own home. This provides you with stability, security, and a sense of accomplishment.


  2. Asset Appreciation: Real estate properties generally appreciate over time, meaning that your home could increase in value, providing you with an appreciating asset.


  3. Leveraging Property: Once you have repaid your housing loan, you can then leverage the property to get another loan such as Loan Against Property for different purposes, such as renovations, education, or other investments.


  4. Sense of Belonging: Owning a home can provide a sense of belonging and community, as well as the freedom to personalize and make the space your own.


  5. Credit Score Improvement: Making timely payments on your Home Loan can improve your credit score, making it easier to access credit in the future for other purposes.


  6. Financial Security: As a woman, owning a home can provide financial security in retirement, as you won't have to worry about paying rent.


  7. Potential Rental Income: You could rent out a ready-to-move-in house and generate additional income.


Overall, a Home Loan for women offers a range of benefits beyond tax deductions, making it a valuable financial tool for homeownership.


You would also like to read: Is Interest Rate Everything in Home Loans?


What are the Tax Benefits of a Home Loan for Women?


  1. Tax Deduction on Home Loan Interest: One of the most significant tax benefits of owning a home is the deduction on the interest paid on the Home Loan. Under Section 24(b) of the Income Tax Act, 1961, women can claim a deduction of up to INR 2 lakh on the interest paid on a Home Loan for a self-occupied property. For a property that is not self-occupied, there is no limit on the amount of Home Loan interest that can be claimed as a deduction.


  1. Tax Deduction on Principal Repayment: Apart from the deduction on interest, women can also claim a deduction on the principal repayment of the Home Loan under Section 80C of the Income Tax Act. The maximum deduction allowed under this section is INR 1.5 lakh, which includes contributions to other investment options such as PPF, EPF, NSC, etc.


  1. Joint Home Loan Benefits: In cases where the Home Loan is taken jointly with a spouse or any other co-owner, both individuals can claim tax benefits on the Home Loan interest rate as well as the principal repayment. This can significantly increase the overall tax benefit and reduce the tax liability for both parties.


  1. Additional Deduction for First-Time Home Buyers: Under Section 80EEA, first-time home buyers, including women, can claim an additional deduction of up to INR 1.5 lakh on the Home Loan interest paid. To be eligible for this deduction, the loan must be sanctioned between 1 April 2019, and 31 March 2021, and the stamp duty value of the property should not exceed INR 45 lakh.


  1. Tax Benefits on Under-Construction Properties: For under-construction properties, the tax benefits can be claimed once the construction is complete, and the possession of the property is taken. The interest paid during the construction period can be accumulated and claimed as a deduction in five equal instalments starting from the year the construction is completed.


Also Read About: Maximising Tax Benefits: Navigating the World of Joint Home Loan Ownership


Tips to Maximize Tax Benefits

  1. Opt for Joint Ownership: As mentioned earlier, opting for a joint Home Loan with a spouse or family member can help maximize tax benefits. Both co-owners can claim deductions on the interest as well as the principal repayment, doubling the tax benefits.


  1. Utilize the First-Time Home Buyer Benefit: If you are a first-time home buyer, make sure to claim the additional deduction of INR 1.5 lakh under Section 80EEA. This can result in substantial tax savings, especially for women looking to buy their first home.


  1. Plan Investments Carefully: Since the overall limit for deduction under Section 80C is INR 1.5 lakh, it is essential to plan your investments carefully to maximize tax benefits. Consider investing in other eligible options such as PPF, NSC, ELSS, etc., to utilize the entire limit effectively.


  1. Keep Proper Documentation: To claim tax benefits on Home Loans, it is crucial to maintain proper documentation, including loan statements, interest certificates, possession certificates, etc. This will help you accurately calculate the deductions and avoid any discrepancies during tax filing.


Also Read: Is ITR for Home Loan Required? - 2024


Owning a home is not only a financial investment but also a source of pride and security for women. By understanding and leveraging the various tax benefits available on Home Loans, you can not only save on taxes but also fulfil your dream of homeownership. It is advisable to consult with a tax advisor or financial planner to optimize your tax planning and make the most of these benefits.


Godrej Capital is the financial services arm of Godrej Group which offers Home Loans along with other secured loans. With innovative products and offerings, customers can get hassle-free loans on easy terms and conditions. Click here to learn more about the offerings.


Disclaimer: The contents of this article are for information purposes only & not a financial advisory. For more details, please refer to the product or service document and/ or connect with our customer representative prior to making any financial decision. The information is subject to update, completion, revision, and amendment and may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Godrej Capital or its Affiliates to any requirements. Godrej Capital or its Affiliates shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.


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