MANUAL-1
Particulars of Organization, Functions & Duties
[Section-4 (1) (b) (i)]
The Real Estate (Regulation & Development) Act,2016(the Act, in short) was passed by the Parliament of India in March,2016. Subsequently, some sections of the Act came into force with effect from1st of May 2016, while the remaining one from1st of May 2017.
The Act calls for setting up of a Real Estate Regulatory Authority (RERA) in every State and Union Territory for regulation and promotion of the real estate sector. The Act mandates the Regulatory Authority to establish an adjudicating mechanism for speedy redressal of disputes arising out of sale/purchase of real estate in the State. The RERA has to ensure sale of plots, apartments or buildings in an efficient and transparent manner and protect the interest of the buyers.
The Act ensures greater accountability towards buyers and transparency in the interest of developers. Besides, it promotes an environment of trust and integrity in the real estate sector.
Apart from new projects launched after commencement of the legislation, the Act also makes it mandatory for all ongoing real estate projects that had not received Completion Certificates prior to1st May 2017 to be registered with Real Estate Regulatory Authority before advertising, marketing, booking, selling or inviting people to buy any plot, apartment or building in any project in the State.
2.Odisha Real Estate Regulatory Authority
The Government of Odisha notified the Real Estate (Regulation & Development) Rules, 2017 on 25th February 2017 vide S.R.O. No. 76/2017 published in an extraordinary issue of Odisha Gazette bearing No.278 dated.25.2.2017.
In exercise of the powers conferred by third proviso to sub-section-1 of section 20 of the Real Estate (Regulation & Development) Act, 2016 (Act 16 of 2016) Government of Odisha designated the Commissioner-cum Secretary to Government, Housing & Urban Development Department as Regulatory Authority for the purpose of the said Act.
In exercise of powers conferred under section 20 of the Act the State Government established the Odisha Real Estate Regulatory Authority comprising the Chairperson and two Members for the purpose of the said Act with effect from 7.10.2017 vide Notification No. 26103 dated. 10.11.2017 published in an extraordinary issue of Odisha Gazette on 13th November 2017.
3.Objectives of the Act
4.Services offered by the ODISHA RERA
Promoters:
Under the Real Estate (Regulation & Development) Act, 2016, promoters shall have to register all commercial and residential real estate projects in the State with Odisha RERA (Authority, in short). No promoter shall advertise, market, book, sell or offer for sale, or invite persons to purchase in any manner any plot, apartment or building, as the case may be, in any real estate project or part of it, without registering the real estate project with the Authority. They shall also need to provide the quarterly updates to the Authority from time to time.
The key facilities being provided to promoters are as follows:
Real Estate Agents:
Under the Real Estate (Regulation & Development) Act, 2016 all real estate agents shall have to register with Odisha RERA before facilitating any sale. Promoters while applying for registration of their projects will have to provide the names of registered real estate agents who would be facilitating the sale of units in the said project.
The key facilities being provided to real estate agents are as follows:
Allottees:
Under the Real Estate (Regulation & Development) Act 2016, allottees/home buyers are provided with the following services:
The Odisha Real Estate (Regulation & Development) Rules, 2017 were notified on 29.8.2017 to carry out the purposes of the Act. These Rules govern the working of the Authority. They also, inter alia, prescribe the forms and procedure for applying for registration of both real estate projects and real estate agents, the renewal thereof, the terms and conditions of appointment of Chairperson and Members and staff of the Authority and the Real Estate Appellate Tribunal and the procedure for dealing with complaints, etc.
The Odisha Real Estate (Regulation & Development) Amendment Rules, 2019 were notified on 2nd July, 2019.Furtheramendment of the Rules were carried out through the Odisha Real Estate(Regulation & Development)Amendment Rules,2022 which notified on 12th Sepetember 2022.
In addition, the Authority has framed under the provision of Section 86(1) of the Real Estate Regulation and Development Act, 2017, the following Regulation;
The Odisha Real Estate Regulatory Authority Regulations, 2017: These Regulations were notified on 29th August 2017. They have laid down procedure for general functioning and conduct of business of the Authority.
The Odisha Real Estate Regulatory Authority (Amendment) Regulations, 2021 were notified on 2nd March 2022.
6.RERA Management
Odisha RERA is a body corporate having perpetual succession and a common seal. It has a Chairperson and two whole-time Members appointed by the Government of Odisha on the recommendation of a selection committee.
Shri Siddhanta Das is currently the Chairperson of Odisha RERA. Shri Das is a retired Indian Forest Service officer of Odisha cadre. He last held the post of DG of Forests under Government of India.
Shri Pradeep Kumar Biswal and Shri Gopal Chandra Patnaik are currently Members of Odisha RERA. Shri Biswal is a retired IAS officer and Shri Patnaik is a retired District Judge.
In addition, Odisha RERA has a Secretary (assisted by other officers) responsible for ensuring due implementation of the decisions of the Authority.