In December 1995, the Maharashtra state government began a comprehensive slum restoration project. It established the Slum Rehabilitation Authority, or SRA, to offer suitable SRA flats to the urban poor living in Mumbai’s slum districts.
The plan was to exploit the site as a resource, providing SRA Mumbai apartments to slum residents while selling the remaining units on the open market.
The program is still in place, with new rehabilitation projects created in a public-private partnership. The saleable FSI (or FAR) is utilized to recoup costs and generate profit for the developer.
Let’s define SRA flats in Mumbai and how they differ from any other real estate property.
What is an SRA flat?
SRA flat is known as Slum Rehabilitation Authority. The Maharashtra Slum Areas (Improvement, Clearance, and Redevelopment) Act, 1971, was passed by the Maharashtra government.
The State government revised the formation of the SRA after many years, based on the recommendations of the Afzulpurkar Committee. The authority was founded due to a government directive dated December 16, 1995.
According to the criteria, only slums created before 2011 are eligible for rehabilitation. Therefore, a best real estate builder in Mumbai interested in redeveloping a specific slum, contact the slum’s cooperative housing organization, which comprises slum residents.
To start the reconstruction and rehabilitation process, builders require the approval of at least 50% of the slum inhabitants. Then, the developer relocates the residents to transit camps or rents them temporary housing until the slum is renovated after gaining approval and completing the relevant documentation.
Eligibility criteria for buying an SRA flat:
- A domicile certificate is required for the SRA flat.
- In addition, the buyer and their family should not possess a home inside the Brihanmumbai Municipal Corporation’s (BMC) boundaries.
- The purchaser must be from the Economically Weaker Section (EWS), the Lower Income Group (LIG), or the Middle-Income Group (MIG) (MIG). If applicable, the selling deed will be in both the husband and wife’s names. Partnership businesses or organizations cannot purchase SRA houses.
- The original recipient cannot purchase an SRA flat.
What is the procedure for purchasing SRA apartments?
Obtain an SRA No-Objection Certificate (NOC):
The authority’s office can provide you with a transfer application form. You must attach the following documents to the completed form before submitting it:
- Certificate of residence.
- A copy of your income tax return (ITR) for three years.
- You’ll need permission from the slum’s relevant cooperative housing group to buy the property.
- The housing organization has issued a no-dues certificate.
- When you submit the papers mentioned above, SRA will review them and issue the NOC appropriately.
Register the sale deed:
Complete the sale deed for the property and have it registered at the Sub-Registrar of Assurances’ concerned office by paying the necessary stamp duty and registration fees. For this reason, you will need the following documents:
- SRA has given their approval.
- Deed of sale
- The seller’s electric bill.
- A copy of the housing society’s no-dues certificate is required.
- The buyer’s and seller’s permanent account numbers (PANs) and Aadhaar cards are required.
- It would help if you shared certificates.
- The property’s Occupancy Certificate (OC).
Send the following documents to SRA:
Provide a copy of the stamped sale deed, the application form, and the authority’s NOC to the SRA. SRA will send you a letter informing you that you will be required to pay transfer fees.
SRA will issue three NOCs, one for the buyer, one for the seller, and one for the housing society after the payment is received.
Send papers to the appropriate housing society:
Send the complete paperwork to the appropriate housing society and the transfer fee (if any). You will become a new member of the housing society and the owner of an SRA unit when the society stamps the share certificate.