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Bhubaneswar: The state government is planning to pass a new bill in the assembly, which proposes to form an association of homebuyers in real estate projects when flats in apartments are allotted to seven persons or 50% allottees, whichever is less. .
Below Odisha Apartment Ownership Bill 2023, which would replace Orissa Apartment Ownership Act 1982, common areas such as corridors, stairs, lifts, play areas and the entire land of the apartment shall be registered in the name of the buyers’ association. Under the 1982 Act, the common area is registered proportionately in the name of individual buyers.
Housing and Urban Development Minister Usha Devi said in her statement on the objectives and reasons for the new bill introduced in the Assembly on Monday, since the state’s existing 1982 Act is prior to the law. Rare In the Act, it has no provision regarding cooperation of allottees and transfer of common areas of the project in favor of such associations, which led to litigation.
Apartments, common areas coming up before this Bill becomes Act and after the Real Estate (Development and Regulation) (RERA) Act, 2016 comes into force on May 1, 2017, are to be registered in the name of the buyers’ associations. Within six months of the coming into force of this new Act.
The associations will insure the housing project against fire, flood, cyclone and other calamities using the funds for common expenses. After 30 years of competition for an apartment building, the association has to get the structural safety of the building tested by a certified structural safety engineer. After that a similar inspection has to be done every five years.
in a series of petitions Odisha The High Court had challenged the existing state laws, saying it violates the RERA Act, requiring the government to enact new laws that are RERA-compliant. The HC had on March 6 expected the state to introduce the RERA-complaints bill in the current session of the assembly.
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