SRA Flats Buy & Sell Service- Alka Property- The Trusted SRA Consultants
Do you live in the area of the Greater Mumbai municipal corporation or Thane municipal corporation? If yes, there is good news for you. You too can dream of having your own home in SRA flats if you follow some basic eligibility criteria.
Have you heard about the slum rehabilitation authority in Maharashtra? For the purpose of cross-subsidizing the slum rehabilitation tenements that are to be provided free of charge to the slum-dwellers, the Government of Maharashtra has initiated a comprehensive slum rehabilitation scheme.
This scheme was initiated by introducing an innovative concept of using land as a resource and allowing incentive floor space index (FSI) in the form of tenements for sale in the open market. Both of these concepts were introduced as part of the scheme.
Alka property the leading property consultant may help you in undertaking the matters related to the slum development projects, non-eligibility transfer, litigation cases, development of housing society, transfer of flats, and more.
Whatever requirements you have concerning the SRA flats, we have expertise and experience in dealing with them in a fast track mode.
What are SRA flats?
Do you know that more than 62 lakh people, or around fifty percent of the city’s total population, call 12.5 lakh slum tenements their home in Mumbai? SRA flats are a blessing for them as they too can dream of having a home of their own.
These tenements are altogether distributed over just eight percent of Mumbai’s total land area. Those slums have awful living circumstances such as a shortage of water and power.
The program that was initiated by the government not only offers the underprivileged members of society the opportunity for an improved quality of life but has also attracted real estate investors and purchasers.
After receiving approval from all of the parties and informing the government of their desire to undertake the project, a rehabilitation project or SRA project gets started. Private developers nominated by the government via a bidding process construct the SRA flats for relocation of the residents.
Different types of SRA flats
Owner’s component
A situation in which a resident of a slum gives up their current home in exchange for a brand new one that is 300 square feet in size.
Builder’s component
This refers to the situation in which the remaining part is acquired by the builder for free sale. Builders then have the ability to sell these units to customers in order to recoup the cost of construction.
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How can Alka property help you in the purchase of the SRA flats?
We’re the best SRA flats consultancy service provider along with offering services like property checking, stamp duty registration, land sell/purchase, mortgage loan, and more in Mumbai and nearby areas. Our legal administration and financial teams make us a desirable partner among both buyers and sellers of the properties.
We’re experts in providing feasible solutions. When you pick us, you can relax since we’ll handle everything. Our firm incorporates cutting-edge technologies to give you hassle-free services. We introduce professionalism to the consulting field by maximizing the correct assignment at the right moment.
Why should you contact an SRA consultant before buying SRA flats?
- Experts estimate that one-third of the flats have been unlawfully inhabited and finding the right one is a daunting task.
- Lack of necessary documents delaying the process of sale/purchase at both buyer and seller end.
- The lengthy process of submitting multiple documents including SRA stamp duty registration.
- No Idea about the availability of salable flats in any areas.
With the SRA consultancy services, any sellers or purchasers may get their work done without any hassle.
Important points to know about SRA flats
Before starting the work, the developer enters into a tripartite agreement with the SRA authority, slum dwellers, and the respective cooperative housing society by obtaining the format from the official website of the authority.
Once the SRA flat registration has been done in the name of any beneficiaries, they can not sell the property before 10 years or in the lock-in period. After the expiry of the lock-in period, residents may decide to sell the property.
However, the state government is entitled to a proportionate part of the proceeds from the sale of the property which is called transaction charge and is equal to the maximum stamp duty on the property or Rs 1 lakh, whichever is higher. Here, Alka Property may help you with SRA stamp duty registration and other tasks for a fast and stress-free purchase.
No family members of the family should possess a residence within the corporation’s limit. It is strictly forbidden for either the buyer or the original seller to purchase another SRA unit.
Can I take the Mortage loan on SRA flats?
SRA Home loans are available for purchasers only after the lock-in period is passed and the sellers have obtained the necessary clearance from the relevant authorities. There is no special categorization of SRA home loans. It’s similar to the other home loan with some extensive technical and legal due diligence.
A buyer has to fall into one of three income brackets: the economically vulnerable part, the lower-income group, or the medium-income group in order to become eligible for SRA flat registration in their names.
Eligibility criteria for SRA flat?
- Must have a domicile certificate
- No house within Brihanmumbai Municipal Corporation (BMC) limits.
- Must belong to the Economically Weaker Section (EWS), Lower Income Group (LIG) or Middle Income Group (MIG).
- Only one SRA flat in the name of one family member.
Amenities at the SRA flat
- Separate water and electricity connection,
- Good quality fitting of electrical and water lines
- Vitrified tiles/equivalent alternative in every flat
- Granite/marble kitchen platform with a stainless-steel sink and glazed tiles up to the height of 900 mm.
Documents to check before SRA flats purchase
- Identity and address proof of the flat property owner
- SRA flat allotment letter
- Tax receipts letter from the municipal corporation
- Electricity/water bill of the flat
- NOC from the society
- Building OC and CC
No matter how hard you try to obtain and verify the documents from the seller, there is always a possibility of misleading or fraudulent intentions of the seller. That’s why it’s always a better idea to contact a trustworthy SRA consultant to help you sail through the purchase process without any stress.
WHY CHOOSE US?
We offer all types of property related services so when you choose us you choose the best. Some of the reasons why we stand out in the crowd are listed below
EXPERTISEWe have a fantastic team spanning legal administration and finance functions, making us a preferred partner of choice.
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EXPERIENCEWe hold a great experience in offering society solutions. So when you choose us you can be stress-free as we will take care of all the services you need.
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SYSTEMSWe believe in maximizing the right task at the right time and in the right way, and we aim to bring professionalism to the consultancy sector.
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TECHNOLOGYCutting edge technology is integrated into all the elements of our business. From improving workplace productivity to implementing the government processes online, we deploy the right technology solutions.
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