Can SRA flats be transferred?

The transfer of SRA (Slum Rehabilitation Authority) flats in Mumbai involves specific rules and procedures. Here’s what you need to know about SRA room transfer procedure:

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1. Lock-in Period: Beneficiaries of SRA flats cannot purchase or sell the flat for ten years from the date of receiving the possession letter. During this lock-in period, no transfer is allowed.

2. SRA Transfer Process: It is the another step in

   SRA transfer rules.

   • Obtain a No-Objection Certificate (NOC) from the SRA.

   • Register the sale deed at the Sub-Registrar of Assurances’ office.

   • Submit the stamped sale deed, application form, and SRA NOC to the SRA.

   • The SRA issues NOCs for the buyer, seller, and housing society.

   • Submit the documents to the housing society and pay any applicable transfer fees.

   • The share certificate is stamped, making the buyer a member of the housing society and the SRA flat owner.

3. Risk Considerations: While buying an SRA flat can be a profitable housing option, be aware that some units may be illegally occupied.

This is the SRA property transfer process.

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The Maharashtra government formed the Slum Rehabilitation Authority (SRA) in December 1995 to ensure quality homes for the urban poor residing in slum areas. Even though the original recipient of an SRA project may sell the property, some restrictions apply. Read on to learn more about the SRA flat transfer procedure.

What are SRA flat transfer rules?

The title can be transferred either through the execution of a sale deed or gift deed. Registration is required for both. Also, Both the seller and the buyer of SRA properties will be prohibited from buying or selling such homes in the future, according to SRA criteria that the state government has accepted. Additionally, the rules specify that any individual or family wishing to purchase an SRA apartment must be a state resident and may not be the owner of a residence located within the boundaries of the Brihanmumbai Municipal Council (BMC). This helps you understand can SRA flats be transferred or not.

Can I transfer my SRA flat within 10 years?

There is a precise process that must be followed when buying an SRA Flat. According to the Development Control Regulations (DCR) rules and the Maharashtra Slum Area Act of 1971, a flat cannot be purchased or sold for ten years from the date on which possession was granted.

What are the guidelines for buying SRA flats?

• Verify the SRA Mumbai property's title document to make sure you are purchasing from the original seller. The seller alone should be named on the deed.

• Speak with a real estate lawyer to confirm the SRA Mumbai property documentation and title deed.

• Verify the owner's possession of a bank release certificate. This will guarantee that the seller will repay the debt.

• Only a properly stamped sale deed may transfer ownership of the real estate. 

• Keep in mind that using a power of attorney to buy or sell real estate is prohibited and has no legal standing.

SRA flat transfer procedure must be clear to you now.