Tue. Nov 5th, 2024

Odisha Enacts Apartment Ownership and Management Ordinance

By Simanchal Jul 2, 2023 #Featured
Odisha Enacts Apartment Ownership and Management Ordinance_AMF NEWSOdisha Enacts Apartment Ownership and Management Ordinance_AMF NEWS
313 Views

In a significant move, the Odisha government has recently enforced the Odisha Apartment (Ownership and Management) Ordinance, 2023, as confirmed by a gazette notification issued by the Law department. This new ordinance applies to both existing and newly converted apartments, irrespective of their construction dates, signaling a comprehensive regulatory framework for apartment ownership and management in the state.

Scope and Applicability

Under the ordinance, all apartments used or intended for residential, office, professional, commercial, or any other purpose are subject to its provisions. However, government buildings or properties used for official purposes or owned by individuals who reside in them or lease them to others are exempted from the ordinance’s purview.

Formation of Allottees Association

The ordinance mandates the responsibility of forming an association of allottees on both the promoters and the allottees themselves. If either 50% of the allottees or a minimum of seven allottees have been assigned apartments, they must initiate the formation of the association. This provision aims to encourage collective decision-making and ensure the representation of the apartment owners’ interests.

Registration Process

To establish the association, an application must be submitted to the competent authority within six months from the date of the ordinance’s enforcement. The application must adhere to the prescribed format and procedures specified by the authorities. This step ensures that the association’s formation is properly documented and legally recognized, enabling effective governance and management of the apartment complex.

Enhancing Apartment Ownership and Management

The Odisha Apartment (Ownership and Management) Ordinance, 2023, is a significant stride towards establishing a structured framework for apartment ownership and management in the state. It brings clarity to the rights and responsibilities of apartment owners, promoters, and allottees, creating a conducive environment for harmonious living and efficient administration within apartment complexes.

Conclusion

With the enforcement of the Odisha Apartment (Ownership and Management) Ordinance, the state government aims to streamline the regulations governing apartments and promote transparency in their ownership and management. This step is expected to protect the interests of apartment owners and facilitate organized decision-making processes for the benefit of all stakeholders involved in the apartment sector.

By Simanchal

Special Correspondent AMF NEWS

Related Post