RERA Odisha (Odisha Real Estate Regulatory Authority)

This in-depth article examines the most recent RERA Odisha updates, provides deeper insights into the Odisha RERA Act, and provides detailed guidance on the online registration and complaint procedures, all of which can help to streamline the home-buying process.

Latest News On RERA Odisha

As we step into 2023, RERA Odisha has seen a flurry of significant advancements. The regulatory body has tightened its grip on compliance standards for developers and agents, promising greater security and peace of mind for developers, agents, and consumers. One of the most noteworthy changes has been the introduction of an efficient online complaint system, a major move towards boosting transparency and streamlining dispute resolution.

What Is The Odisha RERA Act?

The Odisha RERA Act is a path-breaking piece of legislation designed to regulate and reform the real estate sector. Aimed at safeguarding the interests of homebuyers and promoting transparency in the industry, the Act makes it compulsory for all commercial and residential real estate projects and agents to register with RERA Odisha, thus ensuring adherence to the set rules and regulations.

How To Do RERA Odisha Online Registration Of Projects?

The RERA Odisha online registration process has been made straightforward and user-friendly to promote compliance.

• To initiate the registration process, developers must visit the Odisha RERA website and access the online registration portal.
• Here, a detailed form needs to be filled out, outlining specifics of the project and the developer.
• Following this, the required official documentation needs to be uploaded and the registration fees paid.
• On successful submission, the online system issues an acknowledgment receipt, marking the completion of the registration process.

How To Register An Agent With RERA Odisha?

Agent registration with RERA Odisha follows a process similar to project registration.

• Agents must navigate to the RERA Odisha website and access the dedicated agent registration portal.
• Here, they must fill out the agent registration form, providing personal details and professional credentials.
• Upon filling out the form, agents are required to upload the necessary official documentation and pay the prescribed fees.
• The fees are INR 10,000 for registration and INR 2,000 for renewal.
• Upon successful submission, the system will issue an acknowledgment receipt, followed by the issue of a registration certificate.

Must Read: RERA Delhi - Check Steps for RERA Registration Delhi

What Are The Documents Required Under RERA Odisha?

Under RERA Odisha, a comprehensive set of documents is required, ranging from developer or agent credentials, detailed descriptions of the project, location specifics, layout plans, and approvals from competent authorities, amongst others.

Apart from documents related to the project, documents of the promoter will also need to be submitted with the RERA authorities. Having all these documents at hand before initiating the online registration process is crucial to ensure a smooth and swift registration process.

Charges And Fees For The RERA Registration Process

The charges and fees for the RERA registration process depend heavily on the nature and size of the real estate project or the scope of the agent's activities. For the most accurate and updated information, it's advisable for applicants to check the latest fee structure on the RERA Odisha website before initiating the registration process.

The below table shows an illustrative understanding of INR 10 lakh home loan at an interest rate of 7.99% and 8.99% p.a. The EMIs change as per the interest rate and tenures. EMI amounts stated below are estimated amounts only. They may not include additional charges, which may be applicable as per the terms agreed upon.

The fees are based on the area of the project and based on the type of the project, the fees range from INR 50/Square metre to INR 200/Square metre. However, in order to not overcharge, the authorities have set a maximum limit of fees to be paid based on the type of the project.

How To File A Complaint With RERA Odisha?

Filing a complaint with RERA Odisha has become far simpler with the advent of the RERA online complaint system. Those who feel aggrieved can follow these steps:

• Visit the Odisha RERA website.
• Navigate to the RERA complaint online section.
• Fill out the comprehensive complaint form.
• Hit on Submit.

This process is accompanied by the submission of relevant documents substantiating the complaint and a nominal fee. The RERA Odisha allows for the complaint to be filed as an Individual, society or a voluntary association and the status of the complaint can be tracked online making it easier for citizens to seek justice.

Conclusion

RERA Odisha continues to foster greater transparency, efficiency, and security in the real estate sector. The digital transformation seen in the form of online registration and complaint handling processes has been a game-changer, simplifying interactions between developers, agents, and consumers. As we move forward, staying abreast of the latest developments from RERA Odisha is key to reaping the maximum benefits from this robust regulatory framework.

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Also Read: Maharashtra RERA Act - A Comprehensive Guide