ODISHA APARTMENT OWNERSHIP RULES 2024 WILL BUILD TRUST BETWEEN REAL ESTATE DEVELOPERS & BUYERS: CREDAI ODISHA
Bhubaneswar(19/02/2024): CREDAI Odisha extends full support to the state government for implementing Real Estate Regulatory Authority (RERA)-compliant regulations, which aims at safeguarding the interests of homebuyers and promoting transparency in real estate transactions.
This was highlighted by Confederation of Real Estate Developers' Association of India (CREDAI) Odisha President Swadesh Kumar Routray on Monday. Addressing a press conference in Bhubaneswar, Routray said, "CREDAI Odisha commends the state government's proactive step towards enhancing transparency and accountability in real estate sector with the release of Odisha Apartment Ownership Rules 2024.
The rules, along with associated by-laws, deed of conveyance format and formats for the deed of transfer of common area, mark a significant milestone in aligning the regulatory framework of the state with the RERA Act.
The association emphasises the importance of adherence of the guidelines outlined in the Odisha Apartment Ownership Rules 2024, particularly concerning the formation of associations within the stipulated timelines.
It will build trust between real estate developers and buyers.
Timely compliance will facilitate efficient management of apartment complexes and increase the overall experience for homeowners." President, CREDAI Bhubaneswar Sofia Firdous said, "After a long wait, the Odisha Apartment Ownership Rules 2024 have been released.
This has cleared the way for developers and buyers.
We seek cooperation from buyers for effective implementation of the rules." Secretary, CREDAI Odisha Anil Kumar Agrawal and Treasurer Suryakanta Behera were present at the conference.
