Rights of flat owner in sra developed project

Rakesh Kashinath Kamble (Querist) 29 February 2024 This query is : Resolved
Planning to take flat in project build on SRA land in Maharashtra. This land parcel is builder developed land. Would like to understand my rights in this land?

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If you're considering buying a flat in a Maharashtra project developed on SRA land, it's crucial to understand your rights. You are entitled to the Undivided Share of Land (UDS) allocated to your flat. Buyers will need a domicile certificate, and both buyers and sellers face restrictions on future property transactions. Additionally, SRA flats typically have a lock-in period, meaning you cannot sell the property for a set number of years, though this has recently been reduced to five years in Maharashtra.

T. Kalaiselvan, Advocate (Expert) 29 February 2024
You will be entitled to the UDS that has been fixed for the flat being sold by the seller.

T. Kalaiselvan, Advocate (Expert) 29 February 2024
A domicile certificate is required from the buyer before they can acquire an SRA flat. Both the seller and the buyer of SRA houses will be prohibited from purchasing or selling similar properties in the future, in accordance with the SRA criteria that the State Government has established.
When it comes to purchasing or selling SRA Mumbai apartments, there are a few norms and regulations that must be followed:

The beneficiary is subject to a lock-in period that prevents him/her from selling the assigned SRA Mumbai apartment for ten years.
The latest is that the Maharashtra government has reduced it to 5 years

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