Odisha

Odisha Govt To Streamline Registration Of Common Areas In Apartments

By
OB Bureau

Bhubaneswar: In a significant development, the Odisha government has announced several measures, including steps to streamline registration of common areas in apartments and preparation of modalities for registration of pre-RERA projects to protect the interest of home buyers.

Sources said the move aims at safeguarding the interests of homebuyers as per norms of the Real Estate (Regulation and Development) Act 2016 and Odisha Apartment (Ownership and Management) Act, 2023.

The move was revealed after a meeting of the stakeholders chaired by Housing and Urban Development Principal Secretary Usha Padhee to identify challenges in implementation of the new Odisha Apartment Ownership Act.

In view of the prescribed norms for registration and handing over of possession of the apartment and the common area in favour of home buyers under the law, the registration fee and stamp duty will be charged in a way that the same are not taken twice for the same space, officials said.

Stating that bifurcation of cost will be provided in the agreement of sale for the calculation of the cost of the apartment and common areas, they said ORERA authorities will issue instruction to all stakeholders concerned to clearly indicate the bifurcated cost of common areas and cost of apartment in the agreement for sale.

If no such bifurcation has been made during registration of the deed, they will annex an additional schedule indicating the cost of the apartment concerned; cost of the common areas appurtenant to the apartment; cost of the project; and cost of the entire common area to facilitate appropriate calculation of the registration fees and stamp duty.

All the competent authorities will issue a Certificate of Registration of Association in favour of the associations covered under the provisions of Apartment Ownership Act.

A proposal will be given to the Revenue department regarding adoption of the model devised by Chhattisgarh government towards collection of a nominal registration fee and stamp duty on registration of the common areas, officials said. A consultative meeting will also be held soon to finalise the modalities for pre-RERA apartments to pave way for their registration, officials said.

Another consultative meeting will also be held soon to finalise the modalities for pre-RERA apartments to pave the way for their registration, sources said.

OB Bureau

Recent Posts

Manoj Mishra Questions Sabyasachi Mohapatra Over Film Title, Remuneration To Actors In Odisha

Cuttack: Hours after actor Manoj Mishra held a press briefing to counter Odisha Film Directors'…

November 13, 2024

[Watch] Delhi’s Air Quality Turns ‘Severe’ For First Time This Season, AQI At 418

New Delhi: Delhi's air quality turned 'severe' for the first time this season on Wednesday,…

November 13, 2024

Coldplay Announces Fourth Show In Gujarat’s Narendra Modi Stadium

Mumbai: After announcing three shows in Mumbai, the British rock band Coldplay will have a…

November 13, 2024

VP Jagdeep Dhankhar Forced To Abandon Event In Ludhiana; His Plane Couldn’t Land Due To Poor AQI

New Delhi: Vice President Jagdeep Dhankhar could not attend a conference in Ludhiana as his…

November 13, 2024

Ashtanga Yoga Teacher, Sharath Jois Dies While Hiking In US

New Delhi: Sharath Jois, the Ashtanga yoga teacher who took the yoga style founded by…

November 13, 2024

Odisha Govt To Return Land Acquired For Vedanta University To Owners: Minister

Bhubaneswar: The Odisha government has decided to return the land acquired for the proposed university…

November 13, 2024

Did Canadian Police Demand Money To Provide Protection To Hindu Groups?

New Delhi: The Canadian police allegedly demanded $70,000 to protect Hindu groups amid attacks on…

November 13, 2024

Ambassadors Of 12 Countries Likely to Attend Odisha’s Bali Jatra; Performance By 6 International Cultural Troupe

Cuttack: Ambassadors of at least 12 countries are likely to attend Bali Jatra, which commemorates…

November 13, 2024