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- Originally Posted by chemburite2Hello all,
Please share your views on the SRA projects going around in Mumbai suburbs. Have been looking at a few of them. All of them claim to have the IOD and CC in hand and work on the slum rehab building is either done or going on. But work on the sale building in most projects is nowhere visible.
It seems very strange, so I have my doubts.
Can experts pitch in here and share their valuable opinion? Has it got something to do with the new Mumbai development plan which proposes higher FSI (Floor Space Index)?
In a SRA project you would become a lessee and never an owner. Nobody knows the cost of lease renewal so that is a financial risk for the long term. Secondly, there's also a social risk in such projects - a very high density, very low income and super fast growing population is going to reside right next to you. This population will convert all imaginable puplic properties (including the approach road to your building) into their amenity space to play sports or park their tempo and taxis and eventually Qmake the entire neighbourhood filthy. Just visit a 10 year old SRA building anywhere in Mumbai and then decide for yourself whether you can live in such a neighbourhood. Thirdly, getting approvals in SRA projects are not as straightforward compared to freehold projects and that's why many projects either get stuck or unduly delayed.
However given the acute shortage of freehold plots in Mumbai we would see many SRA projecs come up in our city. But since we have a choice today we should pick a freehold project over leasehold on any given day. This choice is going to vanish very soon!CommentQuote1Flag