{"id":9631,"date":"2022-10-19T02:52:18","date_gmt":"2022-10-19T02:52:18","guid":{"rendered":"https:\/\/www.propertypistol.com\/blog\/?p=9631"},"modified":"2022-10-25T08:01:10","modified_gmt":"2022-10-25T08:01:10","slug":"what-is-the-best-way-to-sell-an-sra-flat-in-mumbai","status":"publish","type":"post","link":"https:\/\/www.propertypistol.com\/blog\/what-is-the-best-way-to-sell-an-sra-flat-in-mumbai\/","title":{"rendered":"What Is The Best Way To Sell An SRA Flat In Mumbai?"},"content":{"rendered":"\n

In 1995, the Maharashtra government initiated a slum restoration programme. The scheme’s goal was to address slum housing issues and give decent housing to the needy in Mumbai<\/a>. Under this programme, the Slum Rehabilitation Authority (SRA) was established to engage on slum reconstruction.<\/p>\n\n\n\n\n\n\n\n

What exactly are SRA flats?<\/strong><\/p>\n\n\n\n

SRA constructs housing units known as SRA flats on reclaimed slum sites. Only slums built prior to 2011 are deemed eligible for rehabilitation. According to industry estimates, more than 60% of Mumbai’s population lives in slums.<\/p>\n\n\n\n

SRA flat classifications<\/strong><\/p>\n\n\n\n

According to Rahul Hingmire, Founding Partner of Vis Legis Law Practice, “The Slum Rehabilitation Authority (SRA) oversees excellent housing for Mumbai’s urban poor, with two categories of SRA flats:<\/p>\n\n\n\n

1. One that is assigned to a slum dweller after they have surrendered their current house; the developer signs into an agreement with the slum resident for fixed substitute lodging in lieu of their old premise, and a registered society is created when the project is completed.<\/p>\n\n\n\n

2. Tenements offered by builders out of free sale in an open market by signing into a selling agreement.”<\/p>\n\n\n\n

What is the best way to sell an SRA flat in Mumbai?<\/strong><\/p>\n\n\n\n

According to new guidelines, you must wait three years after the dismantling of a hutment before selling an SRA property.<\/p>\n\n\n\n

Check that the buyer has a domicile certificate and that the family does not own another property in Mumbai. The buyer must fall into one of three classifications: financially disadvantaged, lower-income, or middle-income.<\/p>\n\n\n\n

The purchaser must get a No-Objection Certificate (NOC) from SRA in order for their name to be added to SRA’s records. A sale deed is generated, on which stamp duty for the transfer must be paid. The deed must be recorded in the husband and wife’s names in the sight of a lawyer.<\/p>\n\n\n\n

Maintain the following documents on hand: the title deed (which should only be in the name of the original seller), property documentation, and the bank’s release certificate.<\/p>\n\n\n\n

Documents that must be sent<\/strong><\/p>\n\n\n\n

Here is a list of documentation you will need to complete in order to sell an SRA apartment –<\/p>\n\n\n\n