Odisha: ORERA Makes It Mandatory For Real Estate Promoter To Declare Earlier Projects

Bhubaneswar: In order to facilitate the buyers in purchasing apartments, the Odisha Real Estate Regulatory Authority (ORERA) has announced that the promoter has to submit a self-declaration on the status of its earlier projects.

In a notification on Thursday, the ORERA said it considered necessary for the homebuyers/allottees to have information about the details of the status of earlier real estate projects taken up by the promoter to help him take an informed decision while purchasing apartment/plot from the promoter in the capacity of director, partner or proprietor in Odisha or any other state or Union Territory.

“It is decided that while applying for registration of a real estate project, the applicant promoter/builder/developer will upload a self-declaration in his/their letterhead disclosing the required information,” the notification stated.

The ORERA also issued the self-declaration form with the notification and stated that the order will come into force with immediate effect.