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CHM   11 August 2020

Sale of sra flat

Hello, I want to sell my SRA flat in Mumbai as I am in urgent need of money. But as per the law I cannot sell it before completion of 10 years. Now that I have found a buyer for the property who is ready for a mutual agreement, I wanted to know 1) what are the documents required for such agreement 2) what type of legal document must be signed by both parties Thanks in advance.


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 1 Replies

Nirali Nayak   08 June 2021

Hello, greetings of the day.
According to the provisions under section 3(E) of Maharashtra Slum Area Act 1971 and para 1.18 of 33 (10) of Development Control Rules, the slum-dwellers are given houses free of cost which they cannot sell or rent them for atleast 10 years. And even if the flats are sold off after the lock-in period then the state government will charge a stamp duty amount.  If you are interested to sell the property before the completion of ten years then that can only happen if it is an unregistered sale agreement. This unregistered and mutual agreement can happen only within a power of attorney for sale and execution as law does not permit the transfer of a SRA flat before 10 years of allotment. In case a mutual agreement is being made, the buyer would be required to submit a domicile, photo id card, residential proofs, bank cheque and must also belong to Economically Weaker Section, Lower Income Group or Middle Income Group.  
Hope this answers your query.
Regards
Nirali Nayak
Law Student


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