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Patra / Apatra

The Slum Rehabilitation Authority (SRA) project beneficiaries will soon be able to sell their homes in five rather than ten years, thanks to a new state housing policy. Jitendra Awhad, the housing minister, announced the reduction of the lock-in time in the Assembly on Tuesday. The decision was made based on a report from a cabinet subcommittee that was established in 2017 to review the procedure for selling and buying SRA tenements. The subcommittee was presided over by Prakash Mehta in 2017, while he was the housing minister. The subcommittee, now led by Awhad, delivered its findings toward the end of the previous year.

Patra-Apatra

Slum dwellers receive free homes through the SRA programme, but they are prohibited from renting or selling them for ten years. The state government is entitled to an amount equal to stamp duty or Rs. 1 lakh, whichever is larger, if the property is sold after the lock-in period. Yet 13,000 SRA flat owners in Mumbai disregarded the lock-in period and resold their property between 2011 and 2017, according to housing department documents. These owners will be required to pay the state government 10% of the current ready reckoner rate as a penalty, regardless of the recent decision to cut the lock-in term in half.

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