ORERA Plans Random Audit: ORERA plans random audit of builder-buyer agreement | Bhubaneswar News
Bhubaneswar: Odisha Real Estate Regulatory Authority (ORERA) is planning to conduct random audit of builder-buyer agreement to keep tabs on whether a developer is making changes to it without the buyer’s knowledge.
The regulatory authority has issued an official order and has appointed an enforcement officer under whose guidance the audit of the agreement of sale deeds, executed with allottees by real estate developers, will be conducted at random times.
The ORERA has sent the order to all real estate promoters for intimation. “I am directed to say that the ministry of housing and urban affairs has instructed to conduct random audit of builder-buyer agreements of registered project,” the letter from ORERA reads.
“The objective is to safeguard the interest of homebuyers,” authority chairman Siddhanta Das said. Officials said an officer on special duty from ORERA has been assigned with the task to conduct such audits.
“It is seen that promoters hide certain things which we homebuyers do not get to notice initially,” said Prakash Dash, a prospective homebuyer.
The regulatory authority has issued an official order and has appointed an enforcement officer under whose guidance the audit of the agreement of sale deeds, executed with allottees by real estate developers, will be conducted at random times.
The ORERA has sent the order to all real estate promoters for intimation. “I am directed to say that the ministry of housing and urban affairs has instructed to conduct random audit of builder-buyer agreements of registered project,” the letter from ORERA reads.
“The objective is to safeguard the interest of homebuyers,” authority chairman Siddhanta Das said. Officials said an officer on special duty from ORERA has been assigned with the task to conduct such audits.
“It is seen that promoters hide certain things which we homebuyers do not get to notice initially,” said Prakash Dash, a prospective homebuyer.
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