State government seeks Odisha RERA help to bring changes to real estate rules

BHUBANESWAR:The State government has sought recommendations from the Odisha Real Estate Regulatory Authority (ORERA) to bring necessary modifications to the agreement for sale provision under Odisha Real Estate (Regulation and Development) Rules-2017 in conformity with the RERA Act and its rules.

The government move comes following the order of the Orissa High Court in this regard on June 22. As per the HC order, the State government will also re-examine and bring necessary changes to the format of the ‘agreement of sale’ in the rules in line with the RERA act.

Accordingly, the Housing and Urban Development department has sought recommendations from ORERA in this regard. Sources said necessary amendments are required to remove the difficulties in the existing 'agreement to sell' provision prescribed in the ORE (R&D) Rules 2017 which has led to non-registration of the sale agreement by the Inspector General of Registration (IGR).

RERA activists said no clause in the agreement to sale should allow any part of the ‘common area’ to be with builder or even booked or sold to individual buyer as the entire land as well as common area of a project is required to be registered in the name of the ‘Association of Allottees’ formed under the Act.

The agreement to sell also must clearly mention the ‘saleability of Covered Parking’, a tabular format for price breakup, cost of the land, share of land and common areas as well as transaction relating to carpet area.