Many people move to Mumbai every day in search of a livelihood, making it their new home. They come from various income groups, and not everyone can afford a bungalow or flat in this financial capital, where property prices are generally high. Those looking for affordable housing options often choose chawls. These structures have been around since the British rule in India and have played a crucial role in providing shelter. Anyone, whether living in the city or outside, can own a chawl in Mumbai.
What is Mumbai chawl?
Chawls are groups of rooms built around a courtyard with a long corridor. These units can be either single or double housing units, with shared bathrooms for the residents. Chawls are mostly preferred by people with low incomes and are legal colonies approved by the local municipal body.
If you own a chawl and are looking to sell your unit, this guide is for you.
How to sell a chawl in Mumbai?
- Ensure you have all the necessary documents for selling your chawl. If you’re missing any, take the time to obtain them. Without the proper paperwork, potential buyers will not be interested in your property.
Documents required to sell a chawl unit in Mumbai are given below.
- Inspect the condition of your chawl and determine if any repairs or renovations are needed. Make sure the property is presentable and ready for the new owner.
- List your chawl on an online property platform to reach potential buyers effectively. You can also enlist the help of a MahaRERA-certified agent to assist in selling your Mumbai chawl unit.
- Determine the price of your chawl based on its location and area, using the ready reckoner rate as a reference. Additionally, check the current market value in the area to make an informed decision.
- Once you find an interested buyer, negotiate and finalize the sale. After the agreed amount is paid and the new owner covers the stamp duty and registration charges, transfer the property documents to the new owner's name.
Aquire Acres.com POV
Selling a chawl is similar to selling any other property. If you have the necessary documents, the process is straightforward. However, if the chawl where you own a room is slated for redevelopment, consider the pros and cons before selling. You might get a better price if you wait for the redevelopment to be completed.
Also Read: Buying a Home in Your 40s? Here Are 4 Important Tips to Remember
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Ans 1. transfer of the room in chawl has to be by regd sale deed.on basis of mere affidavit transfer of chawl cannot be done.file RTI with competent authority on what basis photo pass only issued in father name.your father can execute gift deed to transfer chawl in mother name.
Ans 2. Banks may offer loans on chawls, but availability and conditions will depend on the bank and the particular chawl in consideration. For properties in Mumbai, some banks may have particular lending policies or programmes, and for properties like chawls, some may have more strict standards.
Ans 3. A: The procedure involves preparing the property, engaging a real estate lawyer, obtaining necessary approvals, setting a price, executing a sale agreement, and completing the sale deed.
Ans 4. How Does Transfer Of Ownership In Pagdi System Take Place? The transfer of ownership or tenancy rights of "Pagdi" flats or premises can be achieved through the execution of a tripartite agreement between the landlord, outgoing tenant, and incoming tenant or owner.
Ans 5. While a chawl may not give you posh material comforts , there are certain advantages. For one chawal have common verandahs where all meet and exchange notes. Doors of houses are often left open and people can simply walk into each other's houses. People live as one family and generally nobody feels lonely.