Latest news with #ORERA
Time of India
2 days ago
- Business
- Time of India
Govt depts asked to submit action taken reports on RERA Act implementation
1 2 Bhubaneswar: To strengthen the functionality of Odisha Real Estate Regulatory Authority (ORERA), the housing and urban development department, after assigning specific tasks to various agencies and govt departments with timelines, has asked them to submit action taken reports on the same. In a letter to the departments and agencies concerned, Satish Chandra Singh, joint secretary (housing and urban development department), stated that a high-level meeting under the chairmanship of the chief secretary was held on June 17 to discuss the implementation of the RERA Act, 2016. "In this connection, the chief secretary will conduct a review meeting very shortly. It is requested to kindly take necessary action as per the discussions and decisions in the first meeting and furnish action taken reports to the department at the earliest," Singh said. The action taken reports were sought from the revenue and disaster management department, the general administration department, the town planning division of the housing and urban development department and ORERA itself. According to the assignments, the town planning division was asked to make sure that the status of all project approvals is intimated to ORERA on time. For this, the division was asked to prepare a digital tool for real-time data sharing. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Many Are Watching Tariffs - Few Are Watching What Nvidia Just Launched Seeking Alpha Read More Undo The division was given 60 days to complete the task. Similarly, the revenue and disaster management department was asked to constitute a technical group to plan and implement the integration of ORERA 2.0 with the Bhulekh portal. The team will also work to give access to the SUJOG portal to get the list of approved real estate projects. The housing and urban development department itself was tasked with issuing instructions to the respective urban local bodies to deploy their enforcement squad with the ORERA for the execution of orders under the Orissa Demands Recovery Act,1962. On June 5, ORERA had requested the chief secretary, Manoj Ahuja, to consider an eight-point recommendation it made to strengthen the implementation of RERA Act in Odisha. Following the recommendation, the chief secretary held a review meeting on June 17 and issued specific tasks to specific teams. "Proper implementation of the RERA Act is necessary to safeguard homebuyers and regulate the real estate sector. Earlier, there was a monopoly of the developers and agents, but now things are changing and it should improve further," homebuyer Vikrant Swain said.
Time of India
5 days ago
- Business
- Time of India
Odisha Real Estate Regulatory Authority (ORERA) reforms to add to buyers' interests
BHUBANESWAR: Besides the Apartment Ownership Act, the recent reforms brought by Odisha Real Estate Regulatory Authority (ORERA) have the potential to protect homebuyers' interests, along with bringing changes in the authority's operational framework amid a growing real estate market. One of the key reforms has been the integration of local enforcement wings with ORERA, substantially enhancing its ability to execute orders effectively. And the reforms extend beyond mere structural changes. District collectors are now required to include RERA provisions as a permanent agenda in their monthly reviews and report illegal constructions. Additionally, the housing and urban development department will work in tandem with revenue and disaster management department to ensure proper execution of penalties under the Orissa Public Demands Recovery Act, 1962. 'Strengthening the authority is our primary focus. We need to work with the state machinery to ensure ORERA's effectiveness. Some of the key recommendations have been endorsed by the state govt recently and we are working on more such reforms to make the authority stronger. Awareness of the public is key to all of these,' Asit Kumar Mohapatra, ORERA chairperson who was appointed this May, said. Real estate analyst Malay Mishra sees these changes having far-reaching implications, particularly in terms of order execution. 'We hope that the departments and ORERA work in tandem to achieve functionality of the authority,' he said.
Time of India
5 days ago
- Business
- Time of India
ORERA reforms to add to buyers' interests
Bhubaneswar: Besides the Apartment Ownership Act, the recent reforms brought by Odisha Real Estate Regulatory Authority (ORERA) have the potential to protect homebuyers' interests, along with bringing changes in the authority's operational framework amid a growing real estate market. One of the key reforms has been the integration of local enforcement wings with ORERA, substantially enhancing its ability to execute orders effectively. And the reforms extend beyond mere structural changes. District collectors are now required to include RERA provisions as a permanent agenda in their monthly reviews and report illegal constructions. Additionally, the housing and urban development department will work in tandem with revenue and disaster management department to ensure proper execution of penalties under the Orissa Public Demands Recovery Act, 1962. "Strengthening the authority is our primary focus. We need to work with the state machinery to ensure ORERA's effectiveness. Some of the key recommendations have been endorsed by the state govt recently and we are working on more such reforms to make the authority stronger. Awareness of the public is key to all of these," Asit Kumar Mohapatra, ORERA chairperson who was appointed this May, said. Real estate analyst Malay Mishra sees these changes having far-reaching implications, particularly in terms of order execution. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: One simple trick to get internet without a subscription Techno Mag Learn More Undo "We hope that the departments and ORERA work in tandem to achieve functionality of the authority," he said. Bhubaneswar: Besides the Apartment Ownership Act, the recent reforms brought by Odisha Real Estate Regulatory Authority (ORERA) have the potential to protect homebuyers' interests, along with bringing changes in the authority's operational framework amid a growing real estate market. One of the key reforms has been the integration of local enforcement wings with ORERA, substantially enhancing its ability to execute orders effectively. And the reforms extend beyond mere structural changes. District collectors are now required to include RERA provisions as a permanent agenda in their monthly reviews and report illegal constructions. Additionally, the housing and urban development department will work in tandem with revenue and disaster management department to ensure proper execution of penalties under the Orissa Public Demands Recovery Act, 1962. "Strengthening the authority is our primary focus. We need to work with the state machinery to ensure ORERA's effectiveness. Some of the key recommendations have been endorsed by the state govt recently and we are working on more such reforms to make the authority stronger. Awareness of the public is key to all of these," Asit Kumar Mohapatra, ORERA chairperson who was appointed this May, said. Real estate analyst Malay Mishra sees these changes having far-reaching implications, particularly in terms of order execution. "We hope that the departments and ORERA work in tandem to achieve functionality of the authority," he said.
New Indian Express
14-07-2025
- Business
- New Indian Express
‘Beware of terror financing in real estate transactions': ORERA
BHUBANESWAR: The Odisha Real Estate Regulatory Authority (ORERA) has asked the real estate agents in the state to be aware of potential red flags regarding money laundering and terrorist financing in real estate transactions. It further asked the real estate agents to refrain from entering into any transaction with any person whose identity matches with individuals, groups and associations linked with ISIL (Da'esh) and Al Qaida, listed time to time by the Security Council Committee at the Centre. The agents have also been asked to immediately report to the regulator and director of Financial Intelligence Unit-India (FIU-IND) in case they come across any such person. 'The advisory has come from the Centre to all the real estate agents to make them aware about these potential risks,' ORERA secretary Manashi Mandhata said. Sources said real estate agents in the country are subject to the Prevention of Money Laundering Act (PMLA) and considered 'reporting entities', meaning they have obligations to prevent money laundering and terrorist financing.
Time of India
01-07-2025
- Business
- Time of India
Govt to enforce real estate regulations, strengthen ORERA compliance
Bhubaneswar: In an effort to tighten the regulation of real estate activities, the housing and urban development department will collaborate with the revenue and disaster management department to enforce the decisions of Odisha Real Estate Regulatory Authority (ORERA). The decision was taken at a high-level meeting chaired by chief secretary Manoj Ahuja recently. As per the decision, authorities have been asked to invoke the Odisha Public Demand Recovery (OPDR) Act to recover penalties from defaulters, ensuring compliance with ORERA's directives. To bolster enforcement in the real estate sector, especially in Bhubaneswar, ORERA will conduct joint drives with Bhubaneswar Development Authority (BDA) and Bhubaneswar Municipal Corporation (BMC). "A monthly enforcement calendar with specific, measurable targets will be developed and monitored by ORERA to ensure consistent action against unauthorised real estate developments," read the minutes of the meeting. The institutionalisation of monthly coordination meetings among ORERA, the revenue and disaster management department, and the housing and urban development department was also approved during the meeting. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Esse novo alarme com câmera é quase gratuito em Santa Luzia (consulte o preço) Alarmes Undo These measures aim to streamline efforts and enhance communication between the departments involved in real estate regulation. All district collectors and tehsildars have been instructed to identify and report unauthorised real estate developments to ORERA on a monthly basis. Get the latest lifestyle updates on Times of India, along with Doctor's Day 2025 , messages and quotes!
