Tag: Bhubaneswar

Latest StoriesRera

Odisha REAT Upholds Penalty on Promoter for Uncertified Flats

BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) has dismissed an appeal from a local promoter and upheld the Rs 3 lakh penalty for delivering flats in the Gadakana housing project without the necessary occupancy certificate (OC) and failing to secure registration from the Odisha Real Estate Regulatory Authority (ORERA). This ruling was issued on March 6. The tribunal affirmed ORERA’s March 4, 2024, directive, which penalized the promoter for breaching Section 3(1) of the Real Estate (Regulation and Development) Act, 2016, which stipulates that all eligible projects must be registered before any sales or promotions occur. The tribunal also…

Latest StoriesRera

OREAT Rejects Promoter’s Appeal on Ghatikia RERA Conditions

BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) has rejected an appeal from a developer contesting the conditions set by the Odisha Real Estate Regulatory Authority (ORERA) regarding the registration of phase III of a real estate project in Ghatikia. When issuing the registration certificate for the third phase, ORERA imposed two key conditions: the developer must not execute any sale agreements without re-validated building plan approval or an occupancy certificate, and they must refrain from any sale agreements until the Orissa High Court’s mandate for correcting land records is fully adhered to. The disagreement stems from discrepancies in revenue…

InfrastructureLatest Stories

120 Unsafe Buildings Found in 18 Odisha Districts: Survey

BHUBANESWAR: Recent government assessments presented by Works Minister Prithiviraj Harichandan in the ongoing Budget session have identified 120 unsafe buildings across 18 districts. According to the Minister, Cuttack has the highest number of unsafe buildings at 22, followed by Bargarh with 11. Various structures, including school buildings, hospitals, staff quarters, and government offices, have been marked as unsafe, prompting local authorities to take necessary action. The Minister urged local bodies in districts like Khurda, Ganjam, Rayagada, Nuapada, and Bargarh to intensify field surveys of aging government quarters, school buildings, and private commercial units to propose demolitions or reconstructions of identified…

Latest StoriesRera

Odisha Housing Minister Discloses ORERA Case Backlog

BHUBANESWAR: The Odisha Real Estate Regulatory Authority (ORERA) has registered a total of 4,334 cases against 714 builders since its establishment in 2017. Out of these, 1,028 cases are still pending resolution, as reported by Housing and Urban Development Minister Krushna Chandra Mahapatra in the state assembly. The minister addressed a question from MLA Mangu Khilla regarding ORERA’s operational effectiveness. Khilla also inquired about the government’s actions to enhance ORERA’s functions. Mahapatra stated that the government has increased staffing and oversight, but various external factors continue to obstruct timely justice for homebuyers. He indicated that procedural and legal hurdles, rather…

IndustryLatest Stories

Odisha Officials Visit Chennai for Affordable Housing Insights

BHUBANESWAR: A delegation from the Odisha government recently visited Chennai to explore affordable housing and urban habitat programs backed by the World Bank and the Asian Development Bank (ADB), according to an official statement released on Friday. Led by Usha Padhee, the Additional Chief Secretary of the Housing and Urban Development Department, the team aimed to understand successful models of affordable housing delivery, institutional strengthening, innovative financing frameworks, and sustainable urban habitat development in Tamil Nadu. During their visit, Padhee, along with officials from the Odisha Urban Housing Mission (OUHM), engaged in detailed discussions with senior representatives from the Tamil…

Latest StoriesResidential

Bhubaneswar Residents Accuse Developer of Road Encroachment

Representative image BHUBANESWAR: Residents of a prominent housing project in GGP Colony have accused the developer of encroaching on their common road to facilitate a neighboring construction project. The residents report that heavy vehicles and construction machinery have been using the road designated solely for their housing complex, creating inconvenience and safety hazards for over 50 families. They claim this is happening despite the second project not having secured the necessary approvals from local authorities. As part of the ongoing dispute, residents further allege that the developer has occupied common areas within their existing complex, including parts of the ground…

CommercialLatest Stories

Indiqube Spaces Reports ₹17.06 Crore Net Loss in Q3 FY26

NEW DELHI: Indiqube Spaces has reported a net loss after tax of ₹17.06 crore for the quarter ending December 31, 2025, according to a filing with the BSE. The company’s total net income for Q3 FY26 reached ₹411.09 crore. Rishi Das, co-founder and CEO, stated, “With a healthy EBITDA margin of 21% in Q3 FY26, we are optimistic about continued stability in our margins and anticipate a strong closing for the financial year in Q4.” The debt-to-equity ratio improved to 0.15 in Q3 FY26, down from 0.80 in Q3 FY25. ROCE increased to 23% in Q3 FY26, compared to 15%…

IndustryLatest Stories

Bhubaneswar Body Approves Demolition Plan, Sparks Outrage

Representative AI image BHUBANESWAR: In an unexpected development, the Bhubaneswar Development Authority has approved a building plan for a five-storey structure in Andilo, Balianta, on the outskirts of the city, despite a demolition order previously issued by the housing and urban development department. This approval, reportedly granted in December last year, has faced significant backlash from landowners, raising concerns about adherence to legal and regulatory directives that declared the structure unauthorized and mandated its demolition. Documents indicate that the residential building was erected without the necessary building plan approval from the BDA or a no-objection certificate from the water resources…

Latest StoriesResidential

Odisha to Convert Vacant Government Buildings into Affordable Housing

Representative AI image BHUBANESWAR: The Odisha government is taking steps to identify vacant and unused state-owned buildings in urban areas to convert them into affordable rental housing, as stated in an official document. The initiative aims to improve housing options for the urban poor and working class. Usha Padhee, Additional Chief Secretary of the Housing & Urban Development Department, directed key departments to identify underutilized assets within their control and to report this information to the Odisha Urban Housing Mission (OUHM). Padhee emphasized that housing is essential for urbanization, impacting health, stability, education, and economic opportunities for families. Previously, housing…

Latest StoriesRera

Odisha RERA to Hold Weekly Meetings for Timely Project Registrations

BHUBANESWAR: The Odisha Real Estate Regulatory Authority (ORERA) plans to undertake visits to Chhattisgarh, Andhra Pradesh, and Telangana to study successful practices in the timely issuance of registration certificates for real estate projects. Additionally, ORERA will hold weekly meetings with its officials responsible for registration to discuss and resolve issues, ensuring that property registration certificates are granted within the mandated 30-day timeframe. This decision comes after ORERA received criticism for delays in issuing registration certificates, which are crucial documents affirming the authenticity of projects. The certificates are granted following a comprehensive review of land ownership and layout plans. While the…