Tag: Odisha Real Estate Regulatory Authority (ORERA)

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Govt Begins Process to Fill Odisha RERA Bench Vacancy

BHUBANESWAR: The Odisha government has begun the process of appointing a new member (administration) for the Odisha Real Estate Regulatory Authority (ORERA). This comes more than two months after the position became vacant due to the premature departure of the previous member, who had been in office for only about a year. This development is especially significant for ORERA, as the chairperson’s position in the Odisha Real Estate Appellate Tribunal (OREAT) has also been vacant since May. Stakeholders are concerned that prolonged vacancies in these critical roles could hinder the resolution of disputes among homebuyers, developers, and real estate projects.…

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Odisha REAT Rejects Promoter’s Appeal on ORERA Ruling

BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) has rejected a promoter’s appeal against a ruling by the Odisha Real Estate Regulatory Authority (ORERA), affirming decisions aimed at safeguarding apartment owners’ interests in a significant residential project in Patia. During a recent session, the tribunal asserted that the promoter is legally required to adhere to ORERA’s directives regarding promised amenities, rectification of structural flaws, transparency in maintenance and corpus fund accounts, as well as the transfer of common areas to the allottees’ association. According to the case background, a complaint was lodged by the apartment owners’ association, highlighting that numerous…

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Odisha Government Starts Appointing New RERA Member

BHUBANESWAR: The Odisha state government has begun the process of appointing a new member (administration) to the Odisha Real Estate Regulatory Authority (ORERA), following a vacancy left by the sudden departure of the previous appointee, who was in the role for just under a year. This development is particularly important for ORERA, especially with the chairperson position in the Odisha Real Estate Appellate Tribunal (OREAT) remaining unfilled since May. Stakeholders are concerned that continued vacancies in key roles may hinder the timely resolution of disputes involving homebuyers, developers, and real estate projects. The member (administration) is one of three positions…

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Odisha REAT Rules Builder’s Flat Cancellation Illegal

BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) has overturned a decision made by the Odisha Real Estate Regulatory Authority (ORERA), declaring the cancellation of an apartment allotment in a prominent housing project in Kalarahanga as illegal. This cancellation occurred after the buyer had already made a payment to the builder. The tribunal’s recent ruling instructed the builder to issue a revised demand for delayed interest, rather than canceling the allotment. The dispute originated from a flat booked by the buyer in December 2017 for ₹91.36 lakh, of which ₹10 lakh was paid upfront. A sale agreement was subsequently executed…

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Verify Clients with Latest UN Sanctions: Odisha RERA to Agents

BHUBANESWAR: In response to recent updates by the United Nations Security Council (UNSC) sanctions committees regarding global high-risk individuals and entities, the Odisha Real Estate Regulatory Authority (ORERA) has issued a directive requiring all registered agents to implement anti-money laundering and counter-terrorism financing measures in accordance with the Prevention of Money Laundering Act. This directive follows guidance from the Director General of Audit, Indirect Taxes and Customs. Under the updated compliance framework, real estate agents are now recognized as reporting entities, necessitating alignment of their customer due diligence processes with the most recent international sanctions. ORERA has instructed real estate…

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Odisha RERA Updates QPR Format for Real Estate Projects

BHUBANESWAR: The Odisha Real Estate Regulatory Authority (ORERA) has updated the quarterly progress report (QPR) format for real estate projects, correcting issues in the financial status pro forma that promoters must submit for registered projects. In an announcement made on Wednesday, ORERA noted that it identified certain errors in Pro forma-II(B), which pertains to the project’s financial status and requires certification by a chartered accountant. The authority has since rectified this form and advised updates to the corresponding section of ORERA 2.0. This latest directive follows an earlier modification made by ORERA on April 22, which altered the QPR format…

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OREAT: Odisha RERA’s Fee Retention is Arbitrary

BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) has recently ruled that the Odisha Real Estate Regulatory Authority (ORERA) cannot withhold the full registration fees for projects in cases of rejection or delayed withdrawal. The tribunal deemed such actions arbitrary and lacking in legal foundation. The tribunal delivered this verdict while reviewing two similar appeals involving prominent residential projects in the city, dismissing ORERA’s refusal to issue refunds and ordering the return of the registration fees, retaining only 12% for processing costs. In total, ORERA collected over Rs 20 lakh in registration fees from the two developers. In the first…

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Odisha REAT Directs Builder to Finalize 2018 Flat Sale Agreement

BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) has overturned a previous order that mandated a refund, instead instructing the builder of a significant housing project in Phulnakhra to finalize a sale agreement for a flat booked in 2018. The tribunal deemed the builder’s cancellation arbitrary and discriminatory. This ruling was made last week in response to a decision by the Odisha Real Estate Regulatory Authority (ORERA) from May 2024. According to case records, the buyer had booked a flat along NH-16 by paying Rs 1 lakh in November 2018, with a total cost of approximately Rs 53.6 lakh. The…

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Odisha RERA Seeks More Autonomy from Government

BHUBANESWAR: The Odisha Real Estate Regulatory Authority (ORERA) has called on the state government to provide it with financial and administrative autonomy due to operational challenges that hinder its effectiveness. This request follows a recent advisory from the Union Ministry of Housing and Urban Affairs, encouraging states to enhance the capacity and independence of their real estate regulatory bodies. In a letter sent to the state government earlier this month, ORERA highlighted that its lack of independent financial powers leads to reliance on government approvals for crucial decisions such as staff recruitment and salary disbursement. Officials have indicated that, although…

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Bhubaneswar Residents Blame Builder for Safety Neglect and Occupation

BHUBANESWAR: Residents of a significant real estate project in Rasulgarh have made serious allegations against their builder, claiming unauthorized occupation of common areas for commercial use. The residents’ association has filed a grievance with the Chief Minister, the Housing and Urban Development Minister, and the Odisha Real Estate Regulatory Authority (ORERA), urging immediate intervention regarding ongoing issues. The grievance states, “The builder is illegally using our parking area for unauthorized construction and operating a commercial office in a purely residential complex, creating significant difficulties for the 52 flat owners who struggle to park their vehicles.” Additionally, concerns about safety were…