Developers Sought Help From Government On Issues Related To RERA

Odisha which has an affordable housing policy, private developers are unable to tap the market owing to several unreasonable revenue charges that increase the cost of housing.

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Developers Sought Help From Government On Issues Related To RERA

Real estate developers have urged the Odisha Government to resolve administrative issues responsible for delays in registration of projects as per the Real Estate (Regulation and Development) Act, 2016. They alleged despite repeated meetings with concerned officials, block approvals are still kept on hold by RERA authorities even as completed projects are being forced to register under RERA in absence of occupancy certificate, a condition that has been waived off in other States.

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The Confederation of Real Estate Developers’ Association of India (CREDAI-Odisha chapter) has also raised its concern on payment of seven per cent charges on Power of Attorney for getting land on the basis of the development agreement and two per cent charges on executing sale agreement with customers.

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CREDAI Chairman said while neighbouring States have already simplified the process, Odisha Government is yet to take a serious note of the problems faced by the realtors. Many other leading States have adopted reforms to minimise investment in realty sector to create more affordable housing units.

Read Also: 125,000 Residential Units Up For Sale Over Next 3 Years: RERA Boost

However, in Odisha which has an affordable housing policy, private developers are unable to tap the market owing to several unreasonable revenue charges that increase the cost of housing, he pointed out. More than 100 builders from eight cities met here to discuss various key issues of real estate sector

Source Link- http://www.newindianexpress.com/

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