Mumbai’s SRA Freezes Builders’ Sale Flats to Ensure Rent
MUMBAI: The Slum Rehabilitation Authority (SRA) has mandated developers to deposit an advance rent covering two years for slum residents in their projects. Additionally, the SRA has started ‘freezing’ sale flats equivalent to three years of rent until builders provide new homes to qualified slum dwellers. This proactive measure aims to ensure that rent payments are secured and permanent housing is provided to eligible slum residents, according to SRA officials. This is the first instance of the SRA freezing portions of flats or commercial units from projects to prevent developers from neglecting their rental obligations to slum dwellers. SRA previously…