SRA Flat Gift deed before 10 years
5 months ago
Can my brother can gift deed me SRA flat? Its 6years old flat? If not what would be the process of getting the room transfered
A.YES, Your brother can gift you the SRA Flat, only if it is standing in his own name also if this is the ancestral property then NOC/Release deed from the remaining family members is compulsory. further after getting the registered release deed and then you will have to register the gift deed by paying the requisite stamp duty as per the Ready Reckoner rate.
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A.Dear Client,
A property built up in SRA land has a lock-in period of 10 years to transfer its ownership/title by way of sale or Gift. If the building is constructed on SRA land, then the owner of the property can not transfer its title without the consent/NOC of the concerned authority. Even after the cessation of the lock-in period, you need to get permission/NOC from the authority even for the redevelopment of the building built up on SRA land. So before execution of proposed gift of the property, you need to clarify the matter from the office of SRA and take steps accordingly.
A property built up in SRA land has a lock-in period of 10 years to transfer its ownership/title by way of sale or Gift. If the building is constructed on SRA land, then the owner of the property can not transfer its title without the consent/NOC of the concerned authority. Even after the cessation of the lock-in period, you need to get permission/NOC from the authority even for the redevelopment of the building built up on SRA land. So before execution of proposed gift of the property, you need to clarify the matter from the office of SRA and take steps accordingly.
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A.Dear Client,
SRA flats often come with restrictions on transfer or sale, typically for a certain number of years after the initial allotment. It's essential to check whether the SRA scheme permits the transfer of a six-year-old flat and any specific conditions that may apply. The title can be transferred either through the execution of a sale deed or gift deed. Registration is required for both. Also, Both the seller and the buyer of SRA properties will be prohibited from buying or selling such homes in the future, according to SRA criteria that the state government has accepted. Additionally, the rules specify that any individual or family wishing to purchase an SRA apartment must be a state resident.
SRA flats often come with restrictions on transfer or sale, typically for a certain number of years after the initial allotment. It's essential to check whether the SRA scheme permits the transfer of a six-year-old flat and any specific conditions that may apply. The title can be transferred either through the execution of a sale deed or gift deed. Registration is required for both. Also, Both the seller and the buyer of SRA properties will be prohibited from buying or selling such homes in the future, according to SRA criteria that the state government has accepted. Additionally, the rules specify that any individual or family wishing to purchase an SRA apartment must be a state resident.
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