Latest news with #OdishaRealEstateRegulatoryAuthority
Time of India
18 hours ago
- Business
- Time of India
ORERA tells promoters to submit quarterly progress report by July-end, threatens action
Bhubaneswar: Odisha Real Estate Regulatory Authority (ORERA) has issued a final directive to promoters registered with it to submit the quarterly progress report (QPR) for April-June quarter, declaring the status of their projects by the end of this month. Earlier, it had asked promoters to update the data and submit the QPR digitally on its new website, ORERA 2.0. But so far, only 64% of the projects have completed uploading the data. ORERA has now asked promoters to submit the reports either digitally or manually by the end of July. "In continuation of earlier instructions, particularly the ORERA letter dated June 18, all promoters were advised to complete one-time data updating of their registered projects under the ORERA 2.0 system by June 30," read ORERA's letter to the promoters. QPR is an important document that promoters need to submit. It informs buyers about the status of projects. In case a promoter fails to file the QPR, the authority can take a series of actions as mentioned under the Odisha Real Estate (Regulation and Development) Act, 2016. Promoters are also required to upload audited financial statements within six months of the end of each financial year. Failure to do so can attract penalties. If the promoter continues to default, ORERA may refuse to grant extensions for a project and in extreme cases, the authority may cancel the project's registration. ORERA's letter stated that updating data was essential to enable digital submission of QPR for the quarter ending June 2025 and for subsequent quarters. "It is noted that while over 64% of the registered projects completed updating the data, a significant number of projects are still pending," the letter read. "Due to non-completion of updating data in respect of all projects, the submission of digital mode QPR is not possible," ORERA noted. Given the present scenario, ORERA has directed promoters to ensure that the QPR for the quarter ending June 2025 is submitted either in digital mode or in the prescribed proforma, whichever is convenient, by July 31. "Promoters who have not yet completed one-time data updation in ORERA 2.0 are directed to complete the process immediately. No further extension will be granted," the authority said, adding that for the quarter ending Sept 2025 and onwards, the QPR will not be accepted in manual form, and digital submission is mandatory.
Time of India
18 hours ago
- Business
- Time of India
Top govt official to chair meet on ORERA
Bhubaneswar: Key issues concerning the Odisha Real Estate Regulatory Authority (ORERA) will come up for discussion in a high-level meeting to be chaired by chief secretary Manoj Ahuja on Wednesday, with the focus on strengthening the authority's functioning. This will be the second such meeting chaired by the chief secretary in recent weeks, following a leadership overhaul at ORERA in June. The first meeting was held on June 17. The upcoming discussion is likely to focus on the possible introduction of a regularisation mechanism for pre-RERA apartments. The meeting agenda accessed by TOI also includes discussions on access to private land and approval for using govt land as approach roads to housing projects. Other agenda items include conversion of leasehold to freehold land where building plans have been approved, and the issue of encroachments on conservancy lanes.
Time of India
4 days ago
- Business
- Time of India
ORERA imposes Rs 2cr fine on realtor for ‘illegal' plotting scheme
1 2 Bhubaneswar: The Odisha Real Estate Regulatory Authority (ORERA) has imposed a fine of Rs 2 crore on a city-based realtor for allegedly executing a plotting scheme without obtaining either layout approval from the planning authority or registration from ORERA. Sources said the plotting scheme at Haridamada on the outskirts of the city involves 2,500 plots of various sizes, valued at Rs 550 crore. The promoter was allegedly selling the plots after alluring potential buyers through social media promotions. Taking up the case suo motu, the three-member bench of ORERA, during the recent hearing, found that the promoter was executing a mega plotted project at Haridamada and started to sell the plots in Nov last year. ORERA's technical team, which inspected the project site, submitted before the bench that the project is spread over an area of 120 acres and has 2,500 plots. Construction of roads is in progress, and 30% of the plots have already been sold. "No project documents, detailed project reports, or layout plans are available at the site for perusal. The project has not been approved by Bhubaneswar Development Authority and ORERA," the submission of the technical team read. ORERA found that since the plotted project is not registered, there is a violation of Section 3 of the Odisha Real Estate (Regulation and Development) Act, 2016, as per which the authority can take due action as mandated under the laws. "It is apparent from the report that the respondent has not only violated Section 3 of the Act but also violated Section 17 of the Act. The report of the technical team is based on facts. It is not challenged by the respondent," the ORERA order read. As per the Act, if any promoter contravenes the provisions of Section 3, he shall be liable to a penalty which may extend up to 10% of the cost of the real estate project as determined by the authority. Experts attributed the irregularity to fraudulent and unregulated social media promotions. "Buyers should check the legality of the project. The authority should also keep a check on such online promotions," real estate expert Bimalendu Pradhan said.
Time of India
6 days ago
- Business
- Time of India
ORERA notifies formation of CDR cell for resolving disputes
Bhubaneswar: Odisha Real Estate Regulatory Authority (ORERA) has notified the formation of a Conciliation and Dispute Resolution (CDR) cell at its office here. The CDR cell will be a platform for distressed homebuyers and promoters to amicably resolve disputes, thus, saving both parties from entering any further legal battles. Tired of too many ads? go ad free now ORERA made a similar attempt in Jan last year, but the cell couldn't become operational as it lacked govt approval. This time ORERA notified the cell after approval of the housing and urban development department. "In accordance with the provisions under Section 32 (g) of the Real Estate (Regulation and Development) Act, 2016, a conciliation and dispute resolution cell has been constituted in ORERA with the approval of the housing and urban development department," read the ORERA notice. As per the notice, the cell has five members who will hear the cases brought by the promoters and allottees. The secretary of ORERA will be the primary member in the cell, followed by the joint secretary of finance in ORERA and the consultant in the legal cell of the real estate body. The cell will also have a representative from a developers' association and another from an allottee's association. "To nominate a representative from a registered association of allottees, all interested associations registered under the Odisha Apartment (Ownership and Management) Act, 2023 and Rules, 2024 are hereby invited to nominate one suitable member from their association," the notice reads. All registered associations have been asked to submit their nominations by July 30, 2025. ORERA has also shared a format according to which the associations of allottees will submit their nominations. "This is a step in the right direction. Such a CDR cell will help save a lot of time and resources for both buyers and sellers. People should know about the cell so that they are benefitted from it," Subash Jena, a real estate analyst, said.
Time of India
21-07-2025
- 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.
