RERA Odisha: RERA Registration Process, Fees & Charges

The emergence of the Real Estate Regulatory Authority brought a paradigm shift in the realty sector of Odisha. There were many conflicts between the buyers and sellers of real estate in the past years. In 2017, the Government of Odisha presented the RERA Act Odisha to regulate the process of buying and selling of properties in the state. Presently there is a fully operational RERA Odisha website for agent and project registration. The existence of the regulatory body has helped in boosting investment and has brought transparency between buyers and sellers.

To know more about the registration process, complaint form, RERA registered projects, keep reading till the end.

What Is RERA Act Odisha?

To gain and maintain the trust of buyers and sellers in Odisha, the government made the RERA Odisha Act into existence on May 1, 2017. It empowered the buyers, and at the same time, it regulated the activities of builders, not only Odisha but also around the world.

As the real-estate industry of Bhubaneshwar, Cuttack, and another tier 2, as well as tier 3 cities of Odisha, is gaining prominence, the state government has set up Odisha Real Estate Regulatory Authority or Odisha RERA. This regulatory authority is to maintain a harmonious environment between both buyers and sellers.

Odisha RERA works with ethics in that it regulates the market of real estate and its stakeholders in an organized way. The boost in real-estate investments has been tremendous after the RERA Act Odisha rules and regulations in the state.

RERA Odisha Acts And Rules

The Real Estate Regulatory and Development Act, 2016 that comes under Section 84, envisions that within the time period of six months from the date of its commencement, the State Government will set out rules that comply with the provisions of the Act.

• On October 31st’ 2016, the center with the help of the HUPA Ministry (Housing and Urban Property Alleviation Ministry), released the general rule set by the Real Estate Regulation and Development Act, 2016.
• All the rules of the Act are applicable to the Union Territories (Delhi, Daman and Diu, Chandigarh, Lakshadweep, Dadra & Nagar Haveli, and Andaman & Nicobar Islands).

Few Important Points To Keep In Mind For Projects Under RERA

Now, as you know what RERA is all about, let’s make you familiar with some important points of the Odisha Real Estate Regulatory Authority Act:

• Security: Under the Real-Estate Regulatory Authority Act (RERA) Act, 70% of the amount of the buyers and the investors will be kept in a separate account. This money will then be given to the builders for the construction, land purchasing, and development of the project. Developers and builders have the right to only ask for 10% of the property’s cost before the agreement is signed
• Transparency: Builders need to submit all the real documents related to the project that they undertake. They can only make changes in the plan after the consent of the buyer. For example, if the RERA registered builders in Bhubaneswar want to add a new room in the apartment plan for each flat, they will have to take consent from each and every buyer for the modification.
• Fairness: Under the instruction of RERA, the developers can only sell the project based on the carpet area. Selling the projects on super built-up areas is not allowed under this Act. In any case, if the project is delayed, then the buyers or investors are liable to get the full refund. Such as a RERA-approved duplex in Bhubaneswar is delayed because of a lack of resources. Then the investors and buyers of that duplex can ask for the money back from the developers. This refund can either be done in monthly installments or receive the entire money back at once. The choice is of the buyers and investors.
• Quality: If the buyer faces any issues within five years of purchasing the project, the builder will have to rectify them. The rectification of complaints should get done within 30 days of filing it. For example, A registered RERA Bhubaneswar project shows signs of damage within 2 years of purchase. In this case, the builder will either pay the compensation or solve the issue of the buyer after the complaint has been registered. It needs to be done within 30 days after the buyer has filed the complaint.
• Authorization: Without the registration with the regulator, the builder can not sell, build, book, invest or advertise any project. The advertisements for investments should have a unique project-wise registration number after the registration process provided by Odisha RERA.

Functions Of RERA Act Odisha For Buyers And Sellers

After the establishment of RERA Odisha in the state, accountability and transparency have been in the real-estate world for the buyers and sellers. Here are the salient features of the RERA Act:

• The RERA or Real Estate Regulatory Authority is in every state of India. Under this authority, all the disputes related to real estate will be monitored, adjudicated, and arbitrated.
• A fast-track mechanism started through RERA for the settlement of real estate disputes. An appellate tribunal along with the dedicated adjudicating officers will be appointed for this work.
• All real estate projects must be registered under the RERA. It will keep the jurisdiction of authorities over these projects. If the real-estate projects do not adhere to the guidelines of RERA, the authority can reject the registration of that particular project.
• If the promoter wishes to transfer or in any case, assigns the majority of the rights and liabilities of a particular real-estate project to a third party, they need two-thirds of the owners to write a consent along with the written approval of RERA.
• If there are any faults from the sides of buyers or promoters, both parties will need to pay an equal amount of rate of interest.
• If there are any issues from the side of the promoter to the buyers, such as the defective title of land (laying claim on the property by other people), which has been constructed or is under construction, then the promoter is liable to pay the compensation to the buyer. Currently, there is no law that can decide the compensation amount.
• A person can file a complaint with RERA if they have any problems with the action violating the rules or provisions of this Act by a buyer, promoter, or an agent.
• RERA can stop a buyer, promoter, or agent from continuing the activity against which the complaint has been raised when the inquiry is going on.
• The aggrieved party has the right to submit an appeal before the Appellate Tribunal when they are not satisfied with the decision of RERA regarding the complaint.
• The promoter will have to pay the penalty after they fail to follow RERA’s decisions. This amount can be 5% of the evaluated cost of the property.
• If the orders of the Appellate Tribunal have not complied, then a penalty will be imposed. This penalty can be imprisonment for 3 three years, 10% of the evaluated cost of the property, or both.
• If any offense is committed by the company under this Act, then the person who is in charge of the company at the time of offense committed along with the company will get the punishment.
• The RERA authority will deal with the cases that come under RERA. No civil court will have any jurisdiction relating to any matter that comes under RERA or Appellate Tribunal’s jurisdiction. So, no court can grant an injunction related to any action taken by the authority.

Carpet Area Rules Set By RERA Act

As the builders under the RERA Act have to sell the projects based on the carpet area, there are some rules set by the authority for the carpet area as well. So, let’s go through the carpet area rules set by the RERA Odisha approved projects:

• The carpet area is the area of the floor within the walls of the apartment that the buyer can use. This carpeted area does not include an open terrace, balconies, shafts, etc.
• The carpeted area is normalized to ensure that buyers are not cheated or misled by unlawful promoters.

If the loading factor is high for a project, then the builder has the right to inflate the saleable area. It will help the builder in reducing the rate per square foot area increased earlier. It misleads the buyers as they think that they are getting a great deal on the project. Only the loading factor changes, the flat size remains the same.

The rule of selling projects by carpet area ensures the certainty in usable area. It also helps in the analysis of the rate per square feet of the projects making the comparison between the different projects easier.

Charges And Fees For The RERA Registration Process

The RERA Odisha website has mentioned all the fees and charges that promoters and real estate agents need to pay under the RERA Act Odisha. The fees and charges that need to be paid at the time of the registration are:

For Promoters:

For Real Estate Agents:

Other Charges:

How To Register Under Odisha Rera (For Real Estate Agents)?

• To register under Odisha RERA, complete the application form and submit it to the authority. Attach the required documents and fees for the registration process.
• A registration number will be provided to you by the authority. The real-estate agent needs to mention this registration number on all the property sales.
• As a real-estate agent under RERA Odisha, you need to maintain a book of accounts, documents as well as records related to the transactions on a quarterly basis.
• You need to share all the documents and information related to any project with the buyers.
• If you commit any fraud or misinterpret yourself during the registration process, the authority will suspend you.

The real-estate agents can register online through the RERA Odisha website or can physically visit the RERA office for the registration process.

How To Register Under Odisha Rera (As A Real Estate Promoter)?

• As a promoter, your most important duty is to make the checklist of all the required documents and collect it before going for the registration process.
• Get the number of bank accounts opened according to Section 4 (2) (I) (D) Act.
• Submit Form A after completion. This form is for the registration process.
• Then submit Form B after completion. This form is for declaration made by the promoter implying with the Section 4 of RERA.
• Submit Form G after completing it as this is the form of the draft agreement of both allotments along with the sale of the project.
• You will need to submit an affidavit that states the details entered in Form G are according to the rules of RERA.
• Submit another affidavit stating that you have not taken any booking amount from the prospective buyers and implies with Section 3 of the Act.
• Pay the fees for registration under the Odisha RERA. The registration fees vary from state to state.
• Then dispatch duly signed hard-copy documents through a registered post to a relevant RERA authority official.
• Lastly, complete and submit Form C, which will let you obtain the registration certificate.

Simply visit the RERA Odisha website, where you will find the registration form, or visit the RERA office to register your project under the RERA Act Odisha.

Documents Required Under RERA Odisha

If you want to register a project under RERA Act Odisha, keep the below-mentioned documents ready:

• Last 3 years of Income-tax report of the promoter.
• Auditor balance sheet as well as auditor report of the promoter along with the profit and loss account.
• PAN card as well as Aadhar card’s copy of the promoter. If in case, there is more than just one promoter, then the PAN and Aadhar card copies of all the promoters should be provided.
• Promoter’s passport size photograph. If the promoter is a firm or a group of people then the photographs of all the members along with the photograph of the chairman and director should be attached.
• Any relevant document (with authentication) or legal title deed. These documents should mirror all the legal rights of the promoter over the land. If the promoter can not provide this, then they can submit a non-encumbrance certificate. Revenue authorities that should not be below the rank of Tehsildar can procure this document.
• A copy of the collaboration agreement along with the consent of owners needs to be provided if the promoter is not the owner of the land on which the project is developed or being developed.
• The layout plan of the approved project.
• The sanctioned plan of the project was approved.
• A full-proof plan of all the facilities that will be provided to the buyers. It includes drinking water, electricity, fire-fighting provision, renewable energy usage, and evacuation provisions.
• A well-made location details of the project. This detail should include the boundaries, longitude, and as well as the latitude of the project.
• An invoice with estimation and details. This should include a sales agreement and the conveyance deed proposed.
• Carpet area, the number of apartments as well as open terrace area and balcony area if there are any.
• Well-defined details of a number of parking and garages for sales.
• The promoter needs to provide the details such as the names and addresses of the real-estate agents associated with the project (If any).
• Details, such as names and addresses of architects, structural engineers, contractors, and other persons who are involved in the development of the project.
• Form B declaration. This form will be filled to make sure that there is no allotment discrimination by the promoter or anyone authorized by the promoters for the project.
• Any other documentation required by the state authority under which you are registering the project.

Post Possession Liabilities Of RERA

Dealing with real-estate projects has been made easier with the establishment of RERA Odisha. With the comparison below, you will see how the projects have seen a difference after the introduction of RERA. The before projects and after RERA Odisha approved projects scenario of selling the properties:

Before RERA in real-estate:

Without a valid registration, many projects started transactions before the year 2016. Neither the law nor the government was aware of the fraudulent and misleading buyer’s rights for the projects.

Anytime the advertisements about new projects were out. It showed the land and the design of the project to lure the people. But often, it was seen that there was no project on that land constructed after a time.

Before implementing the RERA Act, there was no information for the buyers about the details related to the project. It includes the major details, such as a transfer of construction rights from one builder to another.

Earlier, there was no assurance about the timely possession of projects by the buyers. Also, the builders used to play tricks and mislead the buyers by altering the area of the project.

Often, the materials used for the construction used to be of low quality. Low-quality materials were used instead of the quality of materials that were promised to the buyers. If the buyers faced any issues with the project after possession, the builders would go totally non-responsive.

After RERA in real-estate:

Registration of each project is compulsory under the RERA Act Odisha and all over the country. Without registration, none of the builders, promoters, or agents can start construction, sell, take any advance amount, make any sort of advertisement for the project or start any kind of project agreement.

RERA rules clearly and loudly ban the false promises made to the buyers. If a service is promised to the buyer, it has to be delivered. Even if few services are not mentioned in the advertisement, then also the seller is liable to do that.

After the establishment of RERA, it is important for the sellers to inform each and every detail of the project to its buyers, investors, allottees, and authority. And if the possession gets delayed because of any reason, the buyer has the right to get alternate shelter till the project is completed. They can also ask for a refund in case of delayed possession.

When the Act was introduced, it was made compulsory to use the promised material for construction. But if in case, a problem appears, another material of the same quality can be used.

Under this RERA Act, it is compulsory to mention the exact area of the project or the reasons behind the variation in the area. Now, the buyers can get relief as this Act makes the builders responsive to any kind of problems faced by the buyers. From the day of possession till 5 years, builders need to solve all the problems of buyers without asking for any extra money.

How To File Complaint Under RERA Odisha?

Filing complaint under Section 31 of RERA against buyers, promoters, and agents. The ways mentioned -below will help you to proceed with your complaint filing:

• File a complaint under the right jurisdiction with the help of a RERA lawyer.
• File the complaint with the right information and rules suggested by the state in which the project is situated.
• It should include:

1. Details of both, the applicants and the respondents.
2. Address as well as the registration number of the project.
3. The list of facts and the grounds of the claim.
4. If any kind of relief is pursued then the details, as well as interim reliefs if there are any.

• Pay the required amount of fees. The fee amount can vary from state to state.
• An alternative is to file the complaint on the RERA Odisha website.
• If you are not satisfied with the final decision of the RERA, you have the chance to file a complaint to the RERA Appellate Tribunal. The complaint to the Appellate Tribunal should be filed within 60 days of the initial decision.
• Also, you can reach the high court if you are not satisfied with the decision of the Appellate Tribunal.

Penalties Under The RERA Act Odisha

The penalties mentioned are under the Odisha RERA as well as the different RERAs around the country.

For Buyers:

For Promoters:

For Agents:

How is RERA benefitting people?

• Defined calculated price of the project with the standardization of carpet area selling.
• Reduced insolvency by the builders as they can no longer invest money from one project to another. They need to submit 70% of the amount in a separate account, and can only take it back after certification by a chartered accountant, engineer, or an architect.
• The buyers will no longer have to pay more than 10% of the project’s amount to the promoter, agent, or builder. It will save the buyers from frauds and large amounts of payments at once.
• Within five years of buying, the builder will have to rectify the problems faced by the buyers within 30 days. The builder can not ask for extra costs to rectify these problems.
• Both the buyer and promoter will have to pay interest in case of any default.
• The buyer is entitled to get the full refund in case the terms mentioned and the terms delivered to them are different or mismatched.
• The buyer has the right to claim compensation if there is a mismatch in the title of the project.
• The buyer has the right to know each and every detail about the project.

How To Check The RERA Odisha Compliant Property?

To know whether the project is compliant with the rules and regulations of the RERA Act Odisha, go through the points mentioned below:

• If the area of the property is more than 500 square meters, the seller should register under the RERA Act before promoting or advertising the property.
• The builders need to prove that the 70% amount has been deposited in a discrete account instead of using it for some other project.
• Builders need to get all the necessary permissions before advertising the project. There is no discount for early-bird bookings or pre-launch offers anymore.

You can contact the RERA Odisha team by visiting their office Odisha Real Estate Regulatory Authority, Block-A1, 3rd Floor, Toshali Bhawan, Satya Nagar, Bhubaneswar-751007 or dropping a mail with your query on [email protected] . You can also call them at  0674-2570277,2571977.

How to Check the Application Status Under RERA in Odisha Online?

The emergence of the Real Estate Regulatory Authority brought a paradigm shift in the realty sector of Odisha. There have been many conflicts between the buyers and sellers of real estate in the past years. In 2017, the Government of Odisha presented the RERA Act Odisha to regulate the process of buying and selling of properties in the state. Presently there is a fully operational RERA Odisha website for agent and project registration. The existence of the regulatory body has helped boost investment and has brought transparency between buyers and sellers.

To know more about the registration process, complaint form, RERA registered projects, keep reading till the end.

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