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Bhubaneswar: The Bhubaneswar Development Authority Affordable housing projects in the city have faced a hurdle after the Union Ministry of Housing and Urban Affairs made registration of such projects mandatory under the Real Estate (Regulation and Development) Act, 2016 for release of central grants. .
Officials said that initially it was not clear whether such projects should be registered under the RERA Act or not, and hence the BDA made no effort to do so. However, after the registration was made mandatory by the ministry, the BDA started the registration process but later found that it would make the affordable housing project financially unviable.
“Registration should be done under Odisha RERA Now as per the mandate. But in the recent past, the late fee along with the registration fee has been increased manifold by the authority, which ultimately impacted the cost of the projects. We have sought the intervention of the state government in this matter,” said BDA vice-president Balwant Singh. BDA insiders said a high-level meeting was held recently with the state’s housing and urban development department to discuss the matter, with the BDA requesting the state to include affordable housing under ‘Housing’. and waiver of application and late fees for registration of slum redevelopment housing projects. for all plans.Odisha The Real Estate (Regulation and Development) Rules, 2017 made under the RERA Act can be amended by the state government. We will place a proposal with the state government for exemption from registration of affordable housing projects under the rule. This will remove bottlenecks in executing housing projects,” said Singh.
The BDA executes most of the affordable and slum redevelopment housing projects in the city in public-private-partnership mode, involving private realtors to develop housing projects on 65% of the land at the project site and utilize the rest of the land . To meet the project cost.
Compulsory registration has become a major problem for project developers as they have to bear the cost increase. “It was not there in the initial agreement. A senior BDA official said that many such projects are now languishing despite being close to completion.
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