BHUBANESWAR: In one of its strongest enforcement actions yet, the Odisha Real Estate Regulatory Authority (ORERA) has frozen the bank accounts of 28 promoters for failing to submit mandatory Quarterly Progress Reports (QPRs), signalling a tougher regulatory stance against non-compliance in the real...
BHUBANESWAR: Odisha Real Estate Regulatory Authority (ORERA) has directed real estate promoters to upload updated occupancy certificates (OC) and completion certificates (CC) on its portal within 30 days, failing which they could face penalties, restrictions on property registrations and even...
BHUBANESWAR: Odisha Real Estate Regulatory Authority (ORERA) has directed complainants, allottees and promoters to remain physically present during hearings before its conciliation and dispute resolution (CDR) cell, expressing concern over their prolonged absence in several pending cases.In an order...
BHUBANESWAR: Akshay Moharana, a city-based software professional, nearly lost Rs 1 lakh after responding to a social media advertisement offering plots near the city outskirts at rates significantly below prevailing market prices. He says the seller insisted on an immediate token amount to secure the...
BHUBANESWAR: The state govt has initiated the process to appoint a new member (administration) in the Odisha Real Estate Regulatory Authority (ORERA), more than two months after the post fell vacant following the premature exit of the incumbent, appointed only about a year earlier.The development...
BHUBANESWAR: Odisha Real Estate Appellate Tribunal (OREAT) has dismissed a promoter’s appeal against an Odisha Real Estate Regulatory Authority (ORERA) order and upheld directions aimed at protecting the interests of apartment owners in a major residential project located in Patia.The tribunal,...
BHUBANESWAR: The state govt has initiated the process to appoint a new member (administration) in the Odisha Real Estate Regulatory Authority (ORERA), more than two months after the post fell vacant following the premature exit of the incumbent, who was appointed only about a year earlier. The...
BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) has set aside an Odisha Real Estate Regulatory Authority (ORERA) order and declared illegal a builder’s decision to cancel the allotment of an apartment in a premier housing project at Kalarahanga after receiving the buyer’s...
BHUBANESWAR: In the wake of recent updates made by United Nations Security Council (UNSC) sanctions committees to global watchlists of high-risk individuals and entities, Odisha Real Estate Regulatory Authority (ORERA) recently issued an order directing all registered agents to put in place...
BHUBANESWAR: The Odisha Real Estate Regulatory Authority (ORERA) has revised the quarterly progress report (QPR) format for real estate projects once again, this time rectifying errors in the financial status pro forma that promoters are required to submit for registered projects.In an order issued...