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

Director Bobby Islam & Actor Manoj Mishra Scuffle Near Bhubaneswar DCP office

Bhubaneswar: An attempt for an amicable settlement of the dispute, involving Ollywood director Bobby Islam…

November 22, 2024

Low Pressure Over Bay Likely Tomorrow; Rain Forecast For Odisha, Night Temp To Rise Further

Bhubaneswar: Dense fog occurred at one or two places in Sundargarh and shallow to moderate…

November 22, 2024

Baba Siddique Murder Accused Used Mobile Hotspot To Evade Arrest, Here’s How

Mumbai: The Mumbai Police crime branch revealed that an accused in the Baba Siddiqui murder…

November 22, 2024

Kashika Misra Wins Golf Championship; Know About Her Odisha Roots

Bhubaneswar: Kashika Misra has created history by becoming the first Odia girl to win any…

November 22, 2024

Moscow Entitled To Strike Military Targets Of Countries That Allow Ukraine To Use Weapons…: Putin’s Warning To ‘West’

Moscow: President Vladimir Putin has warned the countries that allow Ukraine to use their weapons…

November 22, 2024

4 Held From Gujarat 5 Months After Duping Elderly Odisha Couple Of Rs 34L In ‘Digital Arrest’

Bhubaneswar: After a five-month-long investigation, Jharsuguda police in Odisha busted an inter-state cybercrime racket and…

November 22, 2024

Vedanta Expands Its ‘Swarna Prashan’ Drive In Odisha’s Rayagada & Kalahandi

Bhubaneswar: Vedanta Aluminium has expanded its ‘Swarna Prashan’ initiative, an Ayurveda-based immunisation drive, to over…

November 22, 2024

Justin Trudeau Govt Denies Linking PM Modi, Jaishankar & Ajit Doval To Criminal Activities In Canada

Ottawa: The government in Canada, led by Justin Trudeau, on Friday denied linking Prime Minister…

November 22, 2024