The Maharashtra cabinet has passed a decision to reduce the transfer fee that is payable post the sale of a housing unit under the Slum Rehabilitation Authority (SRA) scheme from Rs 1 lakh to Rs 50,000.
Note that housing units under the SRA are given for free to the beneficiaries. However, under the scheme the slum dwellers are prohibited from selling or renting their flats until the lock-in period is over. While the contractual period to sell the flat was previously 10 years after getting possession of the property, the Maharashtra government revised this rule in 2020, making it a five-year period.
As a rule, when a property under the SRA scheme is sold, the government had to be paid a fee that included stamp duty and transfer fee amounting to Rs 1 lakh. This has now been reduced to Rs 50,000.
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