Can u buy property in SRA building?

Before answering your query, can u buy property in SRA building? Let me share with you the meaning of SRA flats. The Slum Rehabilitation Authority provides tenements which are known as SRA flats. There are two kinds of SRA flats- ones provided for the slum dwellers and the others are sold by builders in the open market. SRA flats are very much affordable. But are you eligible to buying a property that has gone in SRA? Check out below.

The eligibility criteria to buy SRA flats are:

1. The buyer should possess a domicile certificate.

2. Neither the buyer nor the family members can own a house within Brihanmumbai Municipal Corporation (BMC) limits.

3. The buyer should belong to the Economically Weaker Section (EWS), Lower Income Group (LIG) or Middle Income Group (MIG). 

4. The sale deed should be registered in the name of both husband and wife if possible.

5. Partnership firms and organisations are not allowed to buy SRA flats.

6. The original beneficiary cannot purchase SRA flats.

While applying for SRA flats you will need important documents such as:

• NOC from SRA

• Sale deed

• Electricity bill of the seller

• Copy of the no-dues certificate issued by the housing society

• Permanent Account Number (PAN) and Aadhaar Card of both the buyer and the seller

• Share certificate

• Occupancy Certificate (OC) of the property

Submit these documents to the respective SRA Housing Society to purchase or own a SRA Flats.

The SRA flats in Mumbai can be sold after having 3 years of demolition of housing. If an SRA plot is more than 10 years old, the government is entitled to get a share out of it.

I hope you understand can u buy property in SRA building.

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SRA stands for Slum Rehabilitation Authority. It helps to provide tenements to the slum dwellers. There are two types of SRA flats- one in which a flat is allocated to a slum dweller after he surrenders his existing home. Another type of SRA flat is a unit that the builder sells in the open market. Now to answer your query: can I buy SRA flat in Mumbai, let me highlight the fact that there are some criteria that you need to fulfil for buying an SRA flat. Jahnvi has already shared them but let me add more to them.

Can We Buy SRA Flat?

Yes, you can buy an SRA flat. Here is what you should keep in mind:

• Only the slums built before 2011 can be redeveloped as SRA flats

• Once the property is redeveloped, the beneficiary can get the flat but cannot sell or rent it during the 5-year-lock-in period. 

• You ought to have a domicile certificate

• You should not be owing a property within the Brihanmumbai Municipal Corporation or BMC limits

• Make sure to fill out the application form for transfer at the concerned SRA office 

• Get the deed registered at the sub-registrar office 

• Submit a copy of the stamped sale deed and application form to the SRA office

• Lastly, provide documents to the concerned housing society and your purchase of the SRA will be complete

The SRA flat buying process is time-consuming so make sure you abide by all the rules to make the process convenient.

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