Please suggest what should i do to get the title on my name
2 years ago
Sir, I had purchase a rowhouse property in year 2007 which comes under Mhada. The row house gone in SRA redevelopment and in 2018 the new building got constructed and ready to use. Society is asking me to get clearance from Mhada and thereafter they will handover the keys to me. MHADA on other side is asking me to bring the first owner to sign the document in front of them and thereafter they will issue me the letter. The first owner is untraceable. I came across the act that Mhada flat and SRA flat can be only sold after 5 yrs and 10 yrs respectively. Please suggest what should i do to get the title on my name
Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Hello Sir/Ma'am
The Maharashtra government has been successful in paving the way for providing ‘Housing for all’ by setting up of Slum Rehabilitation Authority (SRA) flats. It is to be seen if the other state governments will employ the same methods to enhance the living standards of slum dwellers.
According to the ruels, Once the beneficiaries are allotted a property, they cannot sell as there is a lock-in period of 10 years. The same rule applies to the builders.
In case any transaction happens after 10 years, the state government is entitled to get a share of the sale value. This is known as a transaction fee and will be deemed necessary in the registration of the documents of sale. The fee will be equal to the maximum stamp duty on the property, or Rs one lakh, whichever is more. For industrial and commercial tenements, the cap for transfer fee will be Rs two lakh and Rs three lakh, respectively.
It would be suggested to check the records in the registrar office and trace the first owner.
Thanks
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The Maharashtra government has been successful in paving the way for providing ‘Housing for all’ by setting up of Slum Rehabilitation Authority (SRA) flats. It is to be seen if the other state governments will employ the same methods to enhance the living standards of slum dwellers.
According to the ruels, Once the beneficiaries are allotted a property, they cannot sell as there is a lock-in period of 10 years. The same rule applies to the builders.
In case any transaction happens after 10 years, the state government is entitled to get a share of the sale value. This is known as a transaction fee and will be deemed necessary in the registration of the documents of sale. The fee will be equal to the maximum stamp duty on the property, or Rs one lakh, whichever is more. For industrial and commercial tenements, the cap for transfer fee will be Rs two lakh and Rs three lakh, respectively.
It would be suggested to check the records in the registrar office and trace the first owner.
Thanks
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A.Hello Sir
According to rules and regulations issued by SRA in its official website, the following points are mandatory:
1. Once the beneficiaries are allotted a property, they cannot sell as there is a lock-in period of 10 years. The same rule applies to the builders.
In case any transaction happens after 10 years, the state government is entitled to get a share of the sale value. This is known as a transaction fee and will be deemed necessary in the registration of the documents of sale. The fee will be equal to the maximum stamp duty on the property, or Rs one lakh, whichever is more. For industrial and commercial tenements, the cap for transfer fee will be Rs two lakh and Rs three lakh, respectively.
2. The buyer is required to submit a domicile certificate for purchasing an SRA flat. He or his family members should not own a house within Brihanmumbai Municipal Corporation (BMC) limits. In addition, the buyer and the original seller is not entitled to buy any SRA flat.
3. The buyer should belong to Economically Weaker Section (EWS), Lower Income Group (LIG) or Middle Income Group (MIG). The sale deed will be made in the name of both husband and wife, wherever applicable. No partnership firms or organisations will be allowed to purchase SRA homes.
Thanks
Please rate if you find this advice helpful.
According to rules and regulations issued by SRA in its official website, the following points are mandatory:
1. Once the beneficiaries are allotted a property, they cannot sell as there is a lock-in period of 10 years. The same rule applies to the builders.
In case any transaction happens after 10 years, the state government is entitled to get a share of the sale value. This is known as a transaction fee and will be deemed necessary in the registration of the documents of sale. The fee will be equal to the maximum stamp duty on the property, or Rs one lakh, whichever is more. For industrial and commercial tenements, the cap for transfer fee will be Rs two lakh and Rs three lakh, respectively.
2. The buyer is required to submit a domicile certificate for purchasing an SRA flat. He or his family members should not own a house within Brihanmumbai Municipal Corporation (BMC) limits. In addition, the buyer and the original seller is not entitled to buy any SRA flat.
3. The buyer should belong to Economically Weaker Section (EWS), Lower Income Group (LIG) or Middle Income Group (MIG). The sale deed will be made in the name of both husband and wife, wherever applicable. No partnership firms or organisations will be allowed to purchase SRA homes.
Thanks
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