According to the amendments under the Real Estate (Regulation and Development) Amendment Rules 2022, the builder should mandatorily stick to the time schedule for completing the project
The Odisha government has notified the new Odisha Real Estate (Regulation and Development) Amendment Rules 2022, in line with its assurance to the Orissa High Court last month. The state’s Housing and Urban Development department notified the rules on Monday after making suitable modifications to the existing Odisha Real Estate (Regulation and Development) Rules 2017. Under the new rules, the builder has to comply with a host of guidelines, including abiding by the time schedule to complete a project among others.
According to the amendments under the Real Estate (Regulation and Development) Amendment Rules 2022, the builder should mandatorily stick to the time schedule for completing the project as disclosed at the time of registration with the authority. Other than this, in case there is any imposition or increase of development charges after the expiry of the deadline of a certain project, the allottees will not be charged for the same. This means that real estate agencies cannot collect Goods and Service Tax (GST) cess and other taxes, unless the tax regime is changed.
“If there is any increase in the taxes after the expiry of the scheduled date of completion of the project as per registration with the authority, which shall include the extension of registration, if any, granted to the said project by the Authority, as per the provisions of the Act, the same shall not be charged from the allottee,” the notification read.
The amended rules also state that allottees or homebuyers will also get the right to visit the building site so as to take a look at the extent of development of the project and his/ her apartment or plot. The new rules further say that the builder or the promoter will hand over the common areas of the project to the association of homebuyers after duly getting the occupancy certificate from the competent authority as provided in the Act.
The allottee shall also have undivided interest in the common areas. Where the interest of allottee in the common areas is undivided and cannot be divided or separated, the allottee shall use the common areas along with other occupants, maintenance staff etc., without causing any inconvenience or hindrance to them, as per the new rules.
The new rules have been notified days after the Odisha government assured the high court that it will do the same within a month. While submitting the assurance, Advocate General AK Parija said steps would be taken to notify the amended rules in the official gazette of Odisha.
