BHUBANESWAR, 13 September:
Complying with the assurance given to the Odisha High Court, the state government on Monday notified the Odisha Real Estate (Regulation and Development) Amendment Rules 2022. The new rules have been notified by the Department of Housing and Urban Development from the existing Odisha Real Estate (Regulation and Development) Rules 2017.
Officials said the gazette notification of the amended rules is aimed at ensuring smooth implementation of the RERA Act for the government and ease of compliance for all stakeholders, including promoters and buyers.
As per the amendments, the promoter will have to adhere to the timetable for completion of the project as disclosed at the time of registration with the authority. No fee will be charged from the allottees for levying or increasing the development fee after the expiry of the time limit of a project.
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Apart from this the allottees will also have the right to visit the site to assess the extent of development of the project and its apartment or plot. The amendment rules also stipulate that the promoter shall hand over the common areas of the project to the consortium of allottees after obtaining the occupancy certificate from the competent authority as provided in the Act.
Odisha notifies compliant real estate regulation rules
Story first published: Tuesday, September 13, 2022, 16:57 [IST]