BHUBANESWAR: The Odisha Real Estate Appellate Tribunal (OREAT) recently passed a landmark order, while referring to Shakespeare’s infamous moneylender Shylock from The Merchant of Venice, and imposed a fine of Rs 10 lakh on a real estate developer.The tribunal, hearing the appeal of the promoter of...
BHUBANESWAR: Odisha Real Estate Regulatory Authority (ORERA) has notified the formation of a Conciliation and Dispute Resolution (CDR) cell at its office here. The CDR cell will be a platform for distressed homebuyers and promoters to amicably resolve disputes, thus, saving both parties from entering any further legal...
BHUBANESWAR: In relief to homebuyers, the state govt on Monday appointed Usha Padhee, who is the principal secretary of housing and urban development department, as the interim chairperson of Odisha Real Estate Regulatory Authority (ORERA).The govt move comes two days after the third and only member of ORERA...
BHUBANESWAR: Grievance redressal for homebuyers is likely to be affected with the Odisha Real Estate Regulatory Authority (ORERA), which has three members, becoming completely defunct on Saturday, following the retirement of its third member — who was serving as the acting chairperson — on Friday.ORERA...
BHUBANESWAR: In an attempt to safeguard the interests of homebuyers, Odisha Real Estate Regulatory Authority (ORERA) has sought the intervention of the state govt in instructing planning authorities to abide by its provisions which mandates obtaining the consent of two-third of the allottees if any promoter intends...
BHUBANESWAR: Odisha Real Estate Regulatory Authority (ORERA) has revoked the registration of a real estate project because its approach road was on land belonging to the railways. It also barred the promoter from accessing the project site.This is the second instance in the state when the registration certificate...
BHUBANESWAR: In yet another stern action, the Odisha Real Estate Regulatory Authority (ORERA) has imposed a fine of Rs 1 crore on a developer for allegedly taking a booking amount of Rs 1 lakh from a homebuyer without obtaining the registration certificate from ORERA.Hearing the case suo motu, a three-member bench...
BHUBANESWAR: Odisha Real Estate Regulatory Authority (ORERA) has issued a list of 57 promoters who have failed to pay penalties of over Rs 6 crore imposed on them for violating different provisions of the Odisha Real Estate (Regulation and Development) Act, 2016.As per ORERA records, over Rs 6.89 crore in fines was...