RERA Odisha: Guide, Function, Role, Complaints, Registration, & More

Real estate is one of the numerous economic sectors and it deals with buying, selling, and development of land and buildings for numerous purposes. It is one of the most crucial sectors of the country and contributes greatly to India’s economy. However, just like any other sector, it faces a range of problems as well such as project delays, construction defaults, and fraudulent activities.

The government of India launched the Real Estate (Regulation and Development) Act (RERA) in 2016 to tackle the problems people face in the real estate sector. It provides a platform for people to file complaints against developers, builders, or real estate agents for unfair practices. Based on the national framework, the state of Odisha formed its own RERA Odisha, to protect the people and promote fair practices.

What is the RERA Act Odisha?

The RERA Act in Odisha, formulated within the parameters of the national RERA, takes care of the issues within the real estate sector such as delays in projects, fraudulent practices, and so on. This act shields the buyers and makes sure that the developers adhere to fair practices, thus making real estate investments in Odisha accessible to all.

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Objectives

RERA Odisha has numerous key objectives in line with the National Real Estate (Regulation and Development) Act:

• Promotes transparency: It ensures that all project-related information such as timelines, approvals, land titles, project status, etc. is disclosed by the real estate agents and developers so that people can make sound judgements based on the full information.

• Protects homebuyers’ interests: RERA Odisha protects people from fraud and cheating practices. It also safeguards people from delays made by the developer for personal motives.

• Regulating the real estate sector: A standard guideline manual is released so that people associated with the real estate sector across the state of Odisha follow and practice it. It also ensures that every agent is registered before operating officially to protect people from investing in unregistered projects.

• Dispute resolution: RERA Odisha settles disputes between homebuyers and developers within 60 days of filing the complaint.

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Benefits

RERA Odisha offers many advantages for everyone involved in real estate, including homebuyers, developers, and agents. These benefits help make projects safer and more reliable. Here’s how RERA Odisha supports each group:

• Timely project delivery: Developers in the real estate sector must register their projects with RERA before advertising or selling. They are required to follow set guidelines, and timelines for completing a project, and provide buyers with legal protection in case of delays.

• Accountability: 70% of the project funds are to be deposited in separate escrow accounts by the developers to minimise the risk of financial mismanagement.

• Grievance Redressal: RERA Odisha enables homebuyers to register their complaints on various issues such as delays, deviations from agreed plans, or construction quality issues by accessing a unified platform.

• Balanced protection: RERA Odisha protects both, homebuyers and developers so that fair practices can be exercised by all those who are involved in the project and build trust along the way.

Functions Of RERA Act Odisha For Buyers And Sellers

RERA Odisha works to enhance the accountability and transparency of real estate transactions in the State of Odisha. Its core performances include

Dispute Resolution: Fast track system of dispute resolution on matters of real estate disputes with designated offices.

Project Registration: All real estate projects have to be registered with the Authority, as this gives them jurisdiction.

Buyer Protection: Buyers are protected from undue advance payments, unreasonable clauses, and poor-quality construction.

Transparency Requirements: Accurate information regarding the status and approvals and other project details must be provided to the buyers as well as to RERA by the developers.

Carpet Area Rules Set By RERA Act

In the RERA Act, properties that are for sale should be classified principally according to the carpet area and not according to the super built-up area to promote transparency. The primary rule is

• Carpet Area Definition: The usable carpet area is only the space enclosed by the walls, not including any portion of the balconies or the open spaces outside the walls.

• Loading Factor: The developers may vary loading factors but they are supposed to depict the saleable areas to prospective buyers clearly so that there is no over-valuation of price computations.

Uniformed Pricing: Due to having a sale based on the carpet area, it is easier for buyers cost-wise to compare different projects without any sales gimmick.

Charges And Fees For The RERA Registration Process

The registration process under RERA Odisha involves fees based on project type:

Additional charges include complaint fees of ₹1,000 for regulatory complaints and ₹5,000 for appeals.

How To Register Under Odisha RERA (For Real Estate Agents)

The following steps on the part of estate agents in Odisha must be completed for registration with RERA:

• Application Submission: Fill up the registration form, attach supporting documents along with the fee, and submit the application.

• Registration Number: On approval, agents are given one registration number which is to be quoted on all property advertisements.

• Record Keeping: Agents are to retire all transactions recorded during the last quarter and file the same with the registering authority.

• Transparency Obligation: During such meetings, they should explain the projects in detail to the prospective buyers.

• Registration Options: Registration can either be made on the RERA Odisha website or the RERA office can be visited.

How To Register Under Odisha RERA (As A Real Estate Promoter)

Promoters in Odisha must gather all necessary documents and follow these steps for RERA registration:

• Document Checklist: Those who have the income tax reporting should collect the financial statements required’s document.

• Form Submission: Services which include registration and consent of declarations, as well as declaration sales form and sales agreement such as forms A, B, C, and G in that order, are completed.

• Fee Payment: Registration cost is paid on project type appropriate fee categorically.

• Document Dispatch: Registered articles were signed and foods were dispatched by RERA officials by registered post.

• Certificate Issuance: Submit Form C for the registration certificate.

Documents Required Under RERA Odisha

For RERA registration in Odisha, promoters need to have certain important documents ready. These documents verify the project details and the promoter's background. Here’s the list of what you’ll need:

• Income tax returns and balance sheets from the last three years

• PAN and Aadhaar copies

• Title deeds or a non-encumbrance certificate

• Approved layout and project plans

• Project location details, including boundaries and coordinates

• Details of associated real estate agents, architects, and contractors

• Form B declaration to ensure non-discriminatory allotment practices

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Eligibility Criteria For Filing A Complaint With RERA Odisha

If you have a problem related to a real estate project in Odisha, you may be eligible to file a complaint with RERA Odisha. Here are the parties who can file a complaint:

• Homebuyers

• Developers

• Real estate agents

• Promoters (given the responsibility to oversee and manage real estate projects)

How To File A Complaint With RERA Odisha?

Filing a complaint with RERA Odisha is a simple process that can be done online. Just follow these steps to raise your complaint effectively. Here’s how you can do it:

Step 1: Please visit the official website of RERA Odisha and click on ‘Lodge a complaint’.

Step 2: Fill out the complaint form which consists of various questions related to one’s personal information, project information, builder/promoter’s information, complaint details, and supporting documents.

Step 3: Some of the required documents are:

• Agreement of sale or booking documents

• Payment receipts

• Any proof of communication with the builder concerning project timelines or others.

• Proof of advertisement or any misleading information

Step 4: After completing the complaint form, please pay Rs. 1000 as a registration fee.

Step 5: After successful payment, please submit the complaint form.

Step 6: Track the status of your complaint through the unique complaint registration number received after the submission of the complaint form.

Step 7: RERA will review the case and schedule hearings according to it.

Step 8: Ensure that you’re present in all the hearings with evidence.

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Penalties Under The RERA Act Odisha

RERA Odisha imposes strict penalties for non-compliance:

How To Check The RERA Odisha Compliant Property

To verify if a project is RERA-compliant:

Registration Verification: Ensure that projects over 500 sq. m. or with more than eight units are RERA-registered.

Account Transparency: Confirm that 70% of buyer funds are held in a separate account.

Permission and Advertising: Verify that builders have obtained all necessary approvals before advertising.

Conclusion

The Real Estate (Regulation and Development) Act has been helping people resolve their issues with the real estate sector for quite some time. RERA Odisha provides people with a simplified way of resolving their disputes.

You can also reach out to Jaagruk Bharat through their community page with any questions

Government Sources

Official Website