Apartment Law: New Apartment Law Ensures Smooth Sale Deed Execution in Bhubaneswar | Bhubaneswar News
Bhubaneswar: Homebuyers and promoters are hoping for smooth execution of sale deeds of apartments following the enactment of Odisha Apartment (Ownership and Management) Act, 2023, which is compliant with Real Estate (Regulation and Development) Act, 2016. The development comes after a two-year deadlock that hindered the registration process following a Orissa high court order to follow all rules and regulations.
Under the new Act, the secretary of Bhubaneswar Development Authority (BDA) has been appointed as the competent authority responsible for scrutinising sale deeds.Once the applications have been reviewed, BDA will forward them to the sub-registrar for the final registration of sale deeds.
Prior to implementation of the Act, buyers and sellers were directly approaching the sub-registrar’s office, which allegedly registered the deeds without properly verifying the authenticity of documents. This practice was challenged in the HC in 2022, prompting the court to issue a directive to the inspector general of revenue to ensure all norms and regulations are strictly followed during the registration of deeds.
However, due to the lack of proper adherence to the rules, the registration process was hampered. With the enactment of the Act and appointment of BDA secretary as the competent authority, three such deeds were registered in June after almost two years.
“We have received 130 applications for granting certificates for association of allottees under the Act. Out of those, 25 certificates have been granted and three recommendations have been sent to the sub-registrar’s office in Khandagiri for the registration of sale deeds for apartments,” BDA secretary Snigdharani Dhal said.
Enactment of the Act is expected to streamline the registration process and ensure that all necessary documents are thoroughly verified before the deeds are registered, providing a welcome relief for the homebuyers and promoters.
“The Act protects the interests of homebuyers by ensuring that developers adhere to the provisions of RERA, which includes timely completion of projects and transparency in transactions. With the implementation of the Act, homebuyers can expect a more secure and hassle-free process when purchasing apartments,” ORERA (Odisha Real Estate Regulatory Authority) chairman, Siddhanta Das, said.
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