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SRA Projects in Mumbai : Buy or Not?

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SRA Projects in Mumbai : Buy or Not?

Last updated: October 29 2018
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  • SRA Projects in Mumbai : Buy or Not?

    Dear Friends,
    Please can you advise from your experience / research on risk and downside associated with SRA projects in Mumbai.

    The SRA projects are priced quite reasonable compared to other normal projects. But, generally they demand 50-80% at the time of booking and that too in pre-launch or just launch stage.

    One risk which is quite obvious is delay in completion. Would like to know if there is any other risk / downside in SRA projects. Any instance you know where the SRA project failed or delayed by more than 2-3 yrs.

    I’m looking to buy a house to have a roof on my top when I come back to India. The price of normal projects to me seems to be unreasonably high. In this not sure SRA make sense. Your advise and info sharing on SRA projects would be highly appreciated.

    Thanks
    Last edited January 10 2017, 05:15 PM.
  • #2

    #2

    Re : SRA Projects in Mumbai : Buy or Not?

    Originally posted by nsh123 View Post
    Dear Friends,
    Please can you advise from your experience / research on risk and downside associated with SRA projects in Mumbai.

    The SRA projects are priced quite reasonable compared to other normal projects. But, generally they demand 50-80% at the time of booking and that too in pre-launch or just launch stage.

    One risk which is quite obvious is delay in completion. Would like to know if there is any other risk / downside in SRA projects. Any instance you know where the SRA project failed or delayed by more than 2-3 yrs.

    I’m looking to buy a house to have a roof on my top when I come back to India. The price of normal projects to me seems to be unreasonably high. In this not sure SRA make sense. Your advise and info sharing on SRA projects would be highly appreciated.

    Thanks
    Hi,

    Check the documents, if the builder has IOD & Title report, it should be good, CC obviously takes time and only comes after tenant building work is partially done.

    Last year all projects got delayed due to multiple changes in regulations, otherwise safe bet.

    Check the one in Bhandup, Swaroop Atlantis, premium project, with rates c.7K PSF.
    Last edited October 19 2015, 11:12 AM. Reason: Text formatting.

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    • #3

      #3

      Re : SRA Projects in Mumbai : Buy or Not?

      Thanks Akki for the guidance ...wondering there are reputed builder in this field ...any sucessfully completed project so far in Mumbai ... heard of one SRA project in Mulund (w) behind Nirmal Life style quoting approx 4500 psf (if paid 40-50% payment in advance) with all amenities ...quite attractive price and so im bit skeptical as no builder will sell below market ...and its question of 50% of the total money at stake....is there a way to check builder financial status to complete the project??
      Last edited February 1 2012, 08:13 PM.

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      • #4

        #4

        Re : SRA Projects in Mumbai : Buy or Not?

        Not sure if it's Slum Rehab Authority

        hi, I am not 100% sure if it is 'Slum RehabAuthority'. If it is then,
        ** Slum Rehabilitation Authority **

        In such cases they construct buildings and allot one side to Slum dwellers and others to the Private owners. Basically you need to check out the layout and facilities. In my mind's eye, you may not want to live in such community also property appreciation may be hampered.

        Thanks,
        Monu

        Comment

        • #5

          #5

          Re : SRA Projects in Mumbai : Buy or Not?

          not unless u want dhobi, dababatliwala , plumber to be ur neighbors

          not unless u want dhobi, dababatliwala , plumber to be ur neighbors ,bhomi heights I think is SRA , but dont think u will get a lower price cause it is SRA

          Originally posted by nsh123 View Post
          Dear Friends,
          Please can you advise from your experience / research on risk and downside associated with SRA projects in Mumbai.

          The SRA projects are priced quite reasonable compared to other normal projects. But, generally they demand 50-80% at the time of booking and that too in pre-launch or just launch stage.

          One risk which is quite obvious is delay in completion. Would like to know if there is any other risk / downside in SRA projects. Any instance you know where the SRA project failed or delayed by more than 2-3 yrs.

          I’m looking to buy a house to have a roof on my top when I come back to India. The price of normal projects to me seems to be unreasonably high. In this not sure SRA make sense. Your advise and info sharing on SRA projects would be highly appreciated.

          Thanks

          Comment

          • #6

            #6

            Re : SRA Projects in Mumbai : Buy or Not?

            Hello Akki & NSH... . I already went through the project you have suggested "Check the one in Bhandup, Swaroop Atlantis, premium project, with rates c.7K PSF." the project is still on hold since a last 2 years as i heard from lot of people. I was planning to book his same project at Ghatkopar East Laxmi Nagar but that project was also on hold since a last 3-4 years. Current possion is SRA Building started with 2 Slab but Private is No Movement. asked to Developer & he confirmed that work will start in Feb 2013 first week. Now I am also in confusion, shall buy or not ??

            Comment

            • #7

              #7

              Re : SRA Projects in Mumbai : Buy or Not?

              Mumbai : Downside of Investing in SRA Projects

              Hi,

              Please help.
              What is the problems if we invest in housing projects in SRA projects?
              Is it safe and will there be future problems?

              Comment

              • #8

                #8

                Re : SRA Projects in Mumbai : Buy or Not?

                Hi,


                Looking for a property mainly in chembur.
                Am interested in a SRA project , named Alta vsita.


                Could someone suggest what is the lease clause in a SRA project and buying a flat in SRA project is risky?

                Comment

                • #9

                  #9

                  Re : SRA Projects in Mumbai : Buy or Not?

                  sra projects risky ? - yes to a high extent with the execution delays involved , projects similar to alta vista , luxe amar mahal, crystal armus, eastern heights, ruparel orion etc . cant see them getting delivered before 2019 end 2020 and staying in the vicinity of sra buildings and slums is of course a big drawback.

                  Comment

                  • #10

                    #10

                    Re : SRA Projects in Mumbai : Buy or Not?

                    Investing in SRA project said to be very risky but i think if you still want to i would suggest check if property is not messed up with any legal issues, get all details of property and then only invest.

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