BHUBANESWAR : The state government on Wednesday notified registration fee for transfer of ‘common areas’ to the ‘Association of Allottees’ in a real estate project, paving way for handing over of the entire project land to homebuyers.
Sources said the move is likely to make way for registration of new projects as per the norms of the Odisha Apartment (Ownership and Management) Act, 2023.
Common areas as defined under the RERA as well as Apartment law of the state includes the entire land in the project.
As per the notification of the Revenue and Disaster Management department, the fee for registration of the deed of conveyance executed by the promoter involving transfer of common areas and facilities in favour of the association of allottees, formed as per the norms of RERA and Odisha Apartment Ownership Act, has been fixed at Rs 20,000 for a project.
The fee has been set through required amendment in the fees table under section 78 of the Registration Act, 1908. The developer will deposit the fee with the sub-registrar for transfer of common area of a real estate project, sources in the department said.
Section 17 of the RERA Act mandates transfer of the ‘common areas’ of a project to the registered association of allottees, while section 8 of the Odisha Apartment (Ownership and Management) Act, 2023 also adopts such transfer to the association.
However, following promulgation of the Odisha Apartment Act on June 26, 2023, the state government had not specified the fee to be paid for registration of the common areas, delaying their transfer to the association as well as registration of the project.