What Does SRA Flats Mean?
The Slum Rehabilitation Authority (SRA) utilizes land as a resource to provide tenements for slum residents and sells excess units on the open market. This public-private partnership leverages saleable Floor Space Index (FSI), also known as Floor Area Ratio (FAR), to offset costs and incentivize developers. New rehabilitation projects continue to be developed as slums remain a prominent feature of Mumbai’s landscape. Approximately 60% of Mumbai's population resides in slums, according to Mumbai-based real estate consultant Vipin Nayak. To address this, the Maharashtra Government enacted the Maharashtra Slum Areas Act, 1971, focusing on slum improvement, clearance, and redevelopment. Only slums constructed before 2011 qualify for rehabilitation under the SRA scheme. The redevelopment process involves developers relocating residents to transit camps or providing temporary housing allowances while the slum undergoes reconstruction. The developer then constructs a new building, providing free housing to eligible slum dwellers.
Buying an SRA Flat in Mumbai: What You Need to Know
- The SRA has established specific rules and regulations for buying and selling SRA flats in Mumbai.
- According to the Free Press Journal (FPJ), the Maharashtra Cabinet sub-committee has reduced the mandatory holding period for selling SRA flats from 10 years to 3 years after demolition. This change addresses the previous 10-year lock-in period.
- After this 10-year period, the state government receives a share of the sale value, akin to a transaction fee, equivalent to a stamp duty of Rs. 1 lakh.
- SRA flats are exclusively available to individuals possessing a domicile certificate and not owning any other property within Mumbai’s suburban areas.
- Original sellers are prohibited from purchasing SRA flats.
- SRA buildings are not intended for buyers from economically weaker sections (EWS), the lower-income group (LIG), or the middle-income group (MIG).
- Partnership firms and organizations cannot purchase SRA flats. Ownership is typically in the name of husband and wife.
Key Considerations Before Buying an SRA Flat in Mumbai
- Verify the property's title deed and confirm you are purchasing from the original owner.
- Consult a property lawyer to validate all legal documents and the title deed.
- Confirm whether the seller possesses a release certificate from any associated bank.
- A duty-stamped sale deed is essential for transferring property ownership legally.
- The buyer and their family must not own any other property within the Brihanmumbai Municipal Corporation (BMC) limits.
Searching for SRA Flat Schemes Online
Visit the SRA Public Portal.
Search using parameters like scheme name, ward name, address, CTS number, village name, developer name, or architect name.
Click on the ‘Action’ column for the chosen scheme to access details like the agreement, IOA, layout, LOI, OC, and registrar information.
Facilities in SRA Mumbai Flats
Redevelopment requires a tripartite agreement between builders, slum residents, and the cooperative housing society. Developers must provide these minimum amenities:
- Vitrified tiles on each floor.
- Individual water and electricity connections for each flat.
- Granite or marble kitchen platforms with stainless steel sinks and glazed tiles up to 900 mm high.
SRA Authority
The SRA, led by a chief executive officer and chaired by the Maharashtra chief minister, comprises nine members, including the state housing minister, urban development minister, commissioner of the Municipal Corporation of Greater Mumbai, and the principal secretary of the urban development and housing department. SRA gained corporate entity status on January 3, 1997, through an amendment to the Maharashtra Regional & Town Planning (MR & TP) Act 1966. SRA's vision for 2022 is a slum-free Mumbai, supported by a GIS portal providing access to data collected by the Brihanmumbai Municipal Corporation (BMC).