RERA Registration in Odisha: A Comprehensive Guidance

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RERA registration in Odisha is a critical step that ensures transparency and accountability in the state's growing real estate sector. Odisha has made enormous advances in protecting homeowners' interests while ensuring that developers keep their promises since the Real Estate (Regulation and Development) Act was enacted in 2016. Odisha's diversified landscape, from coastal plains to rich cultural history, is drawing more real estate investment, making RERA registration a must for developers, agents, and buyers alike. Understanding the RERA registration process is critical for complying with regulatory regulations and protecting your investment, whether you're starting a new project or investing in property in the state. This article looks into the step-by-step process of registering for RERA in Odisha, outlining the benefits and obligations that come with it, assuring a transparent and easy experience in the state's real estate market.

What is RERA Registration in Odisha?

RERA Registration in Odisha is a lawful procedure providing a legal license to the seller or builder to construct and develop the properties. RERA stands for “Real Estate Regulatory Authority” also known as “RERA Act” . This Act was issued by the Indian Government in May 2016 to protect the interest of home buyers and boost investment in the real estate industry.

In the RERA Act 2016, the Government of India clearly mentioned that RERA Registration in Odisha is mandatory for every builder and developer who intends to sell any residential and commercial properties. This registration aids in maintaining transparency, accountability and efficiency among the buyer and seller.

The objective of RERA Registration in Odisha

The key objective of RERA Registration in Odisha is as given below:

  • 1.  Promote Transparency:

    RERA Registration in Odisha provides more clarity to disclose all the essential information, including plans, timelines, and approvals that help buyers make well-informed decisions.

  • 2.   Ensure Timely Delivery:

    The developer has to confirm a specific timeline for the project. To prevent misuse, 70% of collected funds must be placed in an escrow account.

  • 3.   Secure Consumer Rights:

    The dealer or promoter is legally bound to provide clear information. It enforces contracts between both parties and halts unfair trade activities.

  • 4. Fast resolution of Disputes:

      Real estate transactions are regulated and supervised at the state level under RERA, ensuring compliance with the law. A fast and effective dispute resolution process is also provided by appellate tribunals.

Who can apply for RERA Registration in Odisha?

There are two main categories given below of the real estate industry that need RERA Registration in Odisha such as:

  • 1.  Real Estate Builder or Developer:

    If there is a Builder/Developer/Promoter who developing any project that has land of more than 500 sq. meters and 8 apartments must get the RERA Registration in Odisha. The Builder/Developer also has to update the construction progress and status to the authority.

  • 2.  Real Estate Agent:

    According to the RERA Act, anyone who is a real estate agent must first register with RERA. A unique registration number is assigned by the RERA authority to the agent, which serves as legal proof for the sale or purchase of a property. The registration number confirms that the agent complies with RERA.

Stepwise Process of RERA Registration in Odisha

Step 1- Prepare for Registration:

Before going for the RERA Registration in Odisha whether you are a builder or agent, you should prepare all the necessary information regarding your work. In this preparation, the applicant should have project plans, and their approval by the competent authorities.

Step 2 - Filing Application:

After preparing and gathering all the necessary information and documents, the applicant must file the application for RERA Registration in Odisha. During the filing application, all the details should be mentioned properly and appropriately. If the applicant does not provide proper information so, it has a higher chance of rejection and they could also have to pay the penalty as well.

However, the applicant must consult with a professional lawyer or attorney who will guide the complete procedure with every aspect. Litem Legalis can help you obtain a RERA certificate in a hassle-free manner.

Step 3 - Pay Fees:

Along with the RERA application, the applicant has to pay appropriate government fees. Every state has its own fee structure. In Odisha, it requires INR 10,000. So, the registration fees can vary on the state and project area.

Step 4 - Examination and Verification:

After submitting the application, the examination process begins. At this stage, the RERA authority examines and verifies all the details provided by the applicant. This complete procedure can take 30 days.

Step 5: Granting of Registration

When the Examination is done and approved by the authority a registration number is issued by them. This Registration Number serves as legal proof that the builder or agent complies with the RERA. The applicant has to mention this number on all marketing material.

Step 6: Regular Updates ( for builders)

If the applicant is a builder so, after the RERA Registration in Odisha they have to do regular updates to the process of the project and construction. If they fail to update the progress detail they could face several penalties.

Required Documents for RERA Registration in Odisha

Document requirements for real estate agents and builders/developers are different in some categories. The all Required documents for RERA Registration in Odisha are provided below:

Documents for Agent Documents for Builder
  • Aadhar Card
  • PAN Card
  • Office Proof - Rent Agreement
  • ITR - Last 3 years
  • Passport size Photograph
  • PAN Card of Builder/ Promoter
  • Details of Land
  • Proof of the Land Possession
  • Details of Architects/ Engineer
  • Projects Schedule
  • Project Cost and Financing
  • Past 3 years' project descriptions

Government Fees for RERA Registration

In Odisha, RERA registration fees vary based on the type of applicant. Individual agents are required to pay a registration fee of Rs 10,000. The registration fee is significantly higher for entities such as companies, partnerships, or other applicants other than individuals, at Rs 50,000. For larger organizations or businesses involved in real estate transactions, the fee structure reflects the scale and nature of their business.

Time taken for RERA Registration

As per the RERA Act, the RERA certificate in Odisha is generally issued within 30 days by the RERA department of that particular state. But in many cases, the issuance might occur earlier or delayed. There may be several reasons and circumstances for the delay, such as incorrect submission of documents. Therefore, it is highly advisable to seek professional guidance where they may handle all the hustles and provide accurate legal advice as per the RERA rules & regulations.

Advantages of RERA Registration in Odisha

RERA registration in Odisha has several benefits for both buyers and builders/promoters some of them mentioned here:

Homebuyers Builders or Promoters
  • Transparency and Accountability
  • Timely Project Completion
  • Protection Against Fraud
  • Grievance Redressal
  • Quality Assurance
  • Standardised Sales Agreement
  • Boosts Credibility
  • Access to Funds
  • Reduced Risk of Project Delays
  • Market Discipline
  • Clear Project Details
  • Enhanced Marketability

How can “Litem Legalis” help you?

Litem Legalis handles RERA registration, provides expert guidance, and handles dispute resolution in accordance with RERA. Providing preparation and review of documents, compliance audits, and ensuring smooth real estate transactions are factors we focus on. It is our goal to provide legal support for your real estate projects and ensure that they are compliant with regulatory requirements.

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Conclusion

RERA improves transparency, accountability, and fairness in the real estate sector. As well as detailed project disclosures, timely completion guarantees, and robust grievance redress mechanisms, it offers homebuyers protection. Promoting ethical practices and a structured framework improves builders' market credibility, funding, and access to financing. Compliance with RERA laws allows all parties to avoid problems and maintain a trustworthy real estate ecosystem. At Litem Legalis, we are committed to assisting you with every stage of the RERA process, including registration, documentation, and dispute resolution. Our knowledge guarantees that your real estate transactions are both legal and compliant, providing you peace of mind and confidence in your investment.

Frequently Asked Questions

The Real Estate (Regulation and Development) Act, 2016 aims to protect homebuyers and promote transparency in the real estate industry.

Every residential and commercial project that exceeds 500 square meters or eight apartments must register under RERA.

A key objective of RERA is to enhance transparency, ensure timely completion of projects, protect buyers from fraud, and establish a fast and efficient grievance redressal process.

Any builder who develops any project that has land of more than 500 sq. metres & 8 apartments and a Real Estate agent needs to Register under RERA.