Tag: Odisha

CommercialLatest Stories

Odisha Approves Policy to Become GCC Hub

BHUBANESWAR: The Odisha government has recently approved a policy aimed at transforming the state into a hub for Global Capability Centres (GCCs) through a range of incentives, an official reported. A GCC is a facility set up by multinational companies to centralize and handle essential business operations such as IT, research and development, and finance. A cabinet meeting led by Chief Minister Mohan Charan Majhi approved 12 proposals from nine departments, including the Odisha Global Capability Centre (GCC) Policy 2025, as stated by Chief Secretary Manoj Ahuja. The new policy seeks to attract major multinational firms to set up and…

IndustryLatest Stories

Odisha Govt Launches New Law to Streamline Land Management

Representative AI image PURI: The state government is set to launch a new Odisha Land Management Act aimed at simplifying land-related processes throughout the state. This announcement came from Revenue Minister Suresh Pujari during a review meeting at the Puri Circuit House on Thursday. The forthcoming legislation aims to replace several outdated revenue laws, providing citizens with a streamlined approach to managing land records and mutations through their local tehsildars. “The current land laws contain numerous outdated and complicated provisions that lead to unnecessary delays and bureaucratic obstacles,” Minister Pujari stated. In conjunction with the new act, the government will…

Latest StoriesRera

Odisha REAT Affirms Homebuyers’ Rights in Landmark Ruling

BHUBANESWAR: In a significant ruling that supports homebuyers’ rights, the Odisha Real Estate Appellate Tribunal (OREAT) has dismissed an appeal from a local promoter, affirming the allotment of a flat to a buyer and deeming its cancellation as arbitrary and unlawful. The case involved a flat in a multi-storey residential development in Brahmeswarpatna. The buyer had already paid over Rs 60 lakh of the total Rs 70.68 lakh but was denied possession after the promoter unilaterally canceled the allotment, citing delayed payments. However, the tribunal determined that the buyer had adhered to the payment schedule outlined in the registered sale…

IndustryLatest Stories

Odisha: Tehsil Office Land Registration Starts November 1

BHUBANESWAR: The Odisha government is set to decentralize property registration by launching land registration services at tehsil offices across the state starting November 1. Revenue and Disaster Management Minister Suresh Pujari announced on Thursday that Chief Minister Mohan Charan Majhi will inaugurate the initiative, which will initially cover 44 tehsils, with plans to expand to all 273 by December. The new system enables citizens to book registration slots online and conduct sale deed transactions at their local tehsil offices, eliminating the need for trips to district-level sub-registrar offices. Existing registration services at sub-registrar offices will continue to operate alongside the…

Housing FinanceLatest Stories

Aptus Value Housing Finance Q2 FY26 Net Profit Up 24.5%

NEW DELHI: Aptus Value Housing Finance India has reported a net consolidated profit growth of 24.50% for the quarter ending September 30, 2025. The profit after tax for Q2 FY26 was ₹226.54 crore, up from ₹181.96 crore in the same quarter last year, according to a filing with the BSE. The company’s net consolidated total income reached ₹553.68 crore in Q2 FY26, reflecting a 27.44% increase from ₹434.47 crore for the corresponding quarter last year. P. Balaji, the company’s managing director, noted, “Disbursements increased by 24% quarter-on-quarter to ₹963 crore in Q2 FY26. Although we observed a slight uptick in…

Latest StoriesRegulatory

Orissa HC Rescinds Inquiry, Restores PMAY-G Benefits

CUTTACK: The Orissa High Court has overturned a government inquiry report that deemed several beneficiaries ineligible for the Pradhan Mantri Awas Yojana–Gramin (PMAY-G). The court ruled the inquiry did not adhere to established guidelines and was therefore invalid. Ten residents from Gopinathpur panchayat in Bhadrak district challenged the government’s decision to deny them PMAY-G benefits. An initial block-level inquiry identified 258 eligible beneficiaries, including the petitioners, with the gram sabha approving their names on January 30, 2023. Consequently, work orders were issued on June 19, 2023, and some beneficiaries received the first installment of ₹40,000. However, Malatilata Sahoo, a village…

Latest StoriesRera

Odisha RERA to Hire Land Expert for Dispute Resolution

BHUBANESWAR: To enhance governance, the Odisha Real Estate Regulatory Authority (ORERA) has begun the search for a land expert to help address complex disputes. This initiative follows the recent implementation of a standard operating procedure (SOP) by the revenue and disaster management department for the registration of part plots across the state. ORERA is currently accepting applications from retired Odisha Administrative Service (OAS) officers, particularly those with at least eight years of experience as tehsildars, sub-collectors, or land acquisition officers. The selected consultant, who should be under 62 years old, will assist ORERA in reviewing land documents, assessing building and…

Latest StoriesRegulatory

Orissa HC Orders Arrest of Promoters for CRZ Violations in Puri

BHUBANESWAR: In a bid to protect the environment, the Orissa High Court recently mandated the superintendent of police in Puri to arrest the promoters of a significant residential-cum-commercial project in Puri, which allegedly violated coastal regulatory zone (CRZ) norms. A complaint was initially lodged by a Puri resident with the Ministry of Environment, Forest and Climate Change, prompting an inquiry into the project. This led to the Odisha Coastal Zone Management Authority getting involved. In July, the Puri-Konark Development Authority (PKDA) intervened and ordered the promoters to halt construction on the site. Some promoters subsequently challenged this order in the…

InfrastructureLatest Stories

Odisha Approves Town Planning Scheme-8

BHUBANESWAR: The state government has made a notable advancement in urban planning by approving the draft of Town Planning Scheme-8. This approval was publicized in the Odisha Gazette on Friday. Covering an area of 560.86 acres in the Andharua and Daspur mouzas, the Bhubaneswar Development Authority (BDA) will execute the TP scheme. This initiative is a vital portion of the state’s urban growth strategy and includes the development of Bhubaneswar New City. Originally declared on January 30, 2014, the intent for TP-8 was followed by a meeting with landowners on January 21 this year, and the draft plan was released…

Latest StoriesRera

Odisha RERA Releases Guidelines for Easy Dispute Resolution

BHUBANESWAR: The Odisha Real Estate Regulatory Authority (ORERA) has released comprehensive guidelines to guarantee the effective operations of the Conciliation and Dispute Resolution (CDR) cell, which aims to facilitate amicable resolutions for conflicts involving homebuyers, promoters, and agents. These guidelines outline the responsibilities of ORERA and complainants regarding grievances, promoting efficient settlement of disputes under the Real Estate (Regulation and Development) Act, 2016, through various alternative dispute resolution methods. As stated, the CDR cell will address disputes between promoters, agents, and allottees within the Act’s scope when referred by ORERA or upon application from one party. “If the authority is…