BHUBANESWAR: Days after the state government notified the Apartment (Ownership and Management) Rules, 2024, making the process of registration easy and enforcement stringent, realtors have sought more clarity in the norms, especially those pertaining to the common area of apartments.
The realtors have also sought government intervention to shorten the registration time for the convenience of both buyers and sellers. Welcoming the new Apartment (Ownership and Management) Rules 2024, CREDAI Odisha president Swadesh Kumar Routray said,” The new rules, a first-of-its-kind for any state in the country, is RERA compliant and safeguards the interests of homebuyers, apart from bringing in more transparency in real estate transactions. The new rules have paved way for registration of apartments that had been put on halt for around two years.”
Routray, however, urged the government to clarify regarding a rule that mandates registration of common area in favour of association of allottees in line with the provisions of RERA Act. He wanted to know if the common area in a real estate project to be registered with the association of allottees is exempted from fee, and if not, who will have to bear it.
“So far there is no mention about it in the rules. We will comply whatever the law mandates after the clarification is issued,” Routray said.
President of CREDAI Bhubaneswar Sofia Firdous pointed out apart from the confusion pertaining to common area, the process of registration of apartments under the new rules will take more time as the sale deed, which was being executed directly before the sub-registrar earlier, will now be required to be sent to competent authorities for verification prior to the submission before the sub-registrar.
This may stretch the registration procedure to 30 days or more.
“We request the government to increase manpower to reduce the timeline so that the registration process can be completed within seven days,” she said.
CREDAI officials also invited stakeholders including developers, homebuyers and regulatory authorites to collaborate in advancing the objectives of new rules.