Odisha to Restart Apartment Sale Deeds After 2 Years Delay
Bhubaneswar’s real estate market is set to experience a significant shift as the execution of apartment sale deeds, halted for over two years, will finally resume in April. The delay, caused by legal challenges surrounding the implementation of RERA regulations and the Apartment Ownership Act, has been a major obstacle for both buyers and sellers in the city.
Government officials have confirmed that discussions are underway with local development authorities to clear existing bottlenecks. Efforts are being made to resolve these issues before the end of March, aiming to streamline the registration process and bring clarity to a market that has been marred by uncertainty.In a key move, the Odisha government has issued a notification that will simplify the registration process. The new rule clarifies that apartments and buildings constructed before the RERA Act’s implementation will not fall under its purview.
This will help address the issue of reselling older properties, a common concern for many in Bhubaneswar’s real estate market, where buildings often lack essential documents such as occupancy certificates (OCs) and environmental clearances.
The sale deed registrations had been put on hold in May 2022 after the Orissa High Court ruled that only properties fully compliant with real estate regulations would be eligible for registration. Though partial registrations resumed in May 2024 following the enactment of the Odisha Apartment (Ownership and Management) Act, the process remained slow due to the requirement of occupancy certificates.
Many buildings in Bhubaneswar, particularly older ones, lacked these certificates, further complicating the registration process.This situation mirrors the challenges faced by other cities, such as Mumbai, where numerous buildings also lack OCs. In response, various solutions have been proposed, including amnesty schemes to regularise buildings without OCs. Legal experts stress the need for developers to secure the required documentation within a specified timeframe to avoid further complications.
As Bhubaneswar moves to resolve these issues, the changes are expected to boost transparency and encourage more activity in the city’s real estate market. If successful, these reforms could serve as a model for other cities facing similar challenges in their property markets.
