• Transfer SRA flat to his brother

Can someone transfer SRA flat after 10 years to his brother ?
What are the charges and procedures required to do ?
Asked 3 months ago in Property Law from Greater Mumbai, Maharashtra
Religion: Hindu
1) According to the provisions of Section 3 (E) of Maharashtra Slum Area Act 1971 and appendix – IV para 1.18 of 33 (10) Development Control Rules (DCR) regulations, the restriction has been imposed on the beneficiary of the flat under SRA scheme, hence cannot purchase or sell the flat for 10 years from the date of receiving possession letter. 

2) you can a transfer SRA flat to your brother after period of 10 years 

3 after period of 10 years you can  sell the flat or gift to your brother

4) apply to  the chief executive officer of SRA for grant of permission under Section 3E of Maharashtra Slum Areas Act for transfer of the premises.
Ajay Sethi
Advocate, Mumbai
23151 Answers
1216 Consultations
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1) The guidelines, issued by SRA and approved by the state government, say that both the seller and the buyer of the SRA dwellings will be debarred from buying or selling of such homes in future. The rules also state that the person or family intending to buy an SRA apartment should be domiciles of the state and should not own a house within the limits of the Brihanmumbai Municipal Corporation (BMC).

2)Since the sellers stand to earn a handsome price for the flats, as per the current market prices, the state shall extract a premium share from the transaction. This will be known as a transaction fee and will be made binding in the registration of the documents of sale. The fee will be equal to the maximum stamp duty on the property, or Rs 1 lakh, whichever is more

3) the buyer will have to be from economically weaker sections (EWS), lower income group (LIG) or middle income group (MIG). The sale deed will be in the name of both husband and wife, wherever applicable.

4) there is no provision for gift deed
Ajay Sethi
Advocate, Mumbai
23151 Answers
1216 Consultations
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The transfer of title can be either through execution of sale deed or gift deed. Both require compulsory registration. 
Ashish Davessar
Advocate, Jaipur
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447 Consultations
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For sale deed to be executed thete has to be consideration. A sale deed is invalid without consideration
Ashish Davessar
Advocate, Jaipur
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447 Consultations
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Hi
1After 10 years SRA flats can be transferred as per law, so after 10 years period you don't have to rely on power of attorney to transfer the flat whereas before 10 years only an unregistered sale agreement with a power of attorney for sale and execution is made as law doesn't permit the transfer of a SRA Flat before 10 years of allotment.

2. Yes you can make a gift deed to your brother which will also help you to pay less stamp duty. The gift deed made will be an absolute title document.The sale agreement is not needed for transfer if the parties are blood relatives within the family .
3. So go ahead and get a Gift deed registered in favour of your brother.
Thresiamma G. Mathew
Advocate, Mumbai
1316 Answers
85 Consultations
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Yer a SRA Flat can be transferred after years to a brother. the charges will applicable as per existing Govt., rates and market value. the procedure is you have to prepare a title deed viz., gift deed etc., and to submit it along with photo form, id and residential proofs along and required registration, stamp and transfer charges demand draft or banker cheque. both executant and the claimant should appear before concerned registration authority or sub registrar. 
Lakshmi Kanth
Advocate, Hyderabad
223 Answers
2 Consultations
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You may have to go through the conditions for allotment of SRA flat about the transfer of the same to some other person and the duration of holding before transfer etc.
You can find the regulations printed in the allotment letter itself, which you may go through to decide on the proposed action/transfer
T Kalaiselvan
Advocate, Vellore
13945 Answers
127 Consultations
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Whether Gift deed is possible or only sale deed is allowed?


"According to the provisions of Section 3 (E) of Maharashtra Slum Area Act 1971 and appendix – IV para 1.18 of 33 (10) Development Control Rules (DCR) regulations, the restriction has been imposed on the beneficiary of the flat under SRA scheme, hence cannot purchase or sell the flat for 10 years from the date of receiving possession letter. 

The new guidelines, issued by SRA and approved by the state government, say that both the seller and the buyer of the SRA dwellings will be debarred from buying or selling of such homes in future. The rules also state that the person or family intending to buy an SRA apartment should be domiciles of the state and should not own a house within the limits of the Brihanmumbai Municipal Corporation (BMC).

ince the sellers stand to earn a handsome price for the flats, as per the current market prices, the state shall extract a premium share from the transaction. This will be known as a transaction fee and will be made binding in the registration of the documents of sale. The fee will be equal to the maximum stamp duty on the property, or Rs 1 lakh, whichever is more.

 The buyer will have to submit a domicile certificate for acquiring an SRA flat. He or his family members should not own a house within BMC limits. After buying a house in an SRA building, the buyer or the original seller will not be entitled to make any more transactions in any SRA project. They will not be able to apply for a new home under any other government scheme, too.

To pass the ownership of the property validly, a duly stamped registered sale deed is needed. In the absence of that, you will not get a valid title to the property.
T Kalaiselvan
Advocate, Vellore
13945 Answers
127 Consultations
5.0 on 5.0

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