BHUBANESWAR: Months after withdrawing the Odisha Apartment (Ownership & Management) Bill, 2023 from the Assembly, the government has notified the same in the form of an ordinance to consolidate the laws relating to ownership of individual apartments in buildings and make the state compliant to Real Estate Regulatory Authority (RERA) Act 2016.
Odisha is believed to be the first state in the country to bring such an ordinance to comply with the norms of the Real Estate (Regulation and Development) Act, of 2016. The state is also reportedly the first to facilitate the formation of an ‘association of allottees’ - a body that will minister the affairs of the apartment project or property including the common areas and facilities in accordance with the provision of the ordinance.
As per a gazette notification issued recently, the provisions of the Odisha Apartment (Ownership & Management) Ordinance - 2023 will be applicable to all apartments or buildings converted into apartments on freehold land or on leasehold land if the lease for such land is for a period of thirty years or more.
The provision of the ordinance, however, will not be applicable to a building used as the office of a government department or undertaking or in cases where the building is owned and used by the owner himself or for letting it out to others.
The source said, the association of allottees, as per the ordinance, will be formed immediately after the booking of seven apartments or 50 per cent of the apartments of a project, whichever is lower. The formation of this association will be a joint responsibility of the promoter and the allottees/apartment owners. The entire land of the project will be treated as a common area and will be registered in the name of the association.