Is it legal to buy shop in ready SRA building.


I want to buy a shop in a ready SRA building. Is it legal to buy SRA shop or does it have legal restrictions (like we have for buying SRA homes). Please advise.


Answers (1)


usually two buildings come up in a SRA project - one for the existing beneficiaries, as they get a place on an ownership basis in lieu of surrendering their homes. The balance portion goes to the builder for ‘free-sale’. Free-sale means that the developer can sell these housing units to people looking for a house. The free-sale flat is like any other flat in the realty market.
However, there is a catch! Although the beneficiaries get the property as soon as the construction is finished, they cannot sell as there is a lock-in period of 10 years. The same rule applies to the builders.


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