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Changes to real estate regulating rules are announced by Odisha

By Simanchal Sep 13, 2022 #Featured
Changes to real estate regulating rules are announced by Odisha_AMF NEWSChanges to real estate regulating rules are announced by Odisha_AMF NEWS
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The State government promised the High Court in the final week of August that the modified ORERA Rules would be presented in less than four weeks.

The Odisha Real Estate (Regulation and Development) Amendment Rules 2022 have been notified by the state government on Monday in accordance with the assurance given to the Orissa High Court. The new rules have been made after suitable modifications to the current Odisha Real Estate (Regulation and Development) Rules 2017.

According to officials, the gazette notification of the updated guidelines aims to facilitate compliance for all parties, including promoters and buyers, as well as easy implementation of the RERA Act for the government.

The promoter will be required to follow the project completion timeline indicated at the time of registration with the authorities in accordance with the changes. After a project’s deadline has passed, the allottees will not be responsible for any new or increased development fees.

Additionally, the owners of the plots or apartments will have the right to visit the construction site to determine the level of development of the project and their individual units. The amended rules make it clear that the promoter will turn over the project’s common spaces to the association of allottees following the proper acquisition of the occupancy certificate from the appropriate authority in accordance with the Act.

In the absence of any local laws, the promoter will, within 30 days of receiving the occupancy certificate, provide the association of allottees or the appropriate authorities with the essential documentation and drawings, including those for the common areas. The Real Estate (Regulation and Development) Act of 2016 has been complied with by a number of additional changes made to the laws to simplify the agreement for sale of homes.

RERA advocates who supported the new rules stated they made an effort to clarify the transfer of common spaces to the organisation and give the occupancy certificate the respect it deserves. However, they recommended that the RERA Authority, not the adjudicating authority indicated in the rules, should be used to address disagreements in the agreement.

The State government promised the High Court in the last week of August that it would bring the amended ORERA Rules within four weeks. The notification of the amended rules assumes significance in light of the court’s ban on the registration of sale deeds for apartments and flats that did not follow the RERA Act’s requirements.

By Simanchal

Special Correspondent AMF NEWS

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