Bhubaneswar: CREDAI Bhubaneswar has welcomed the much needed revival steps undertaken by the Govt. of Odisha to create opportunities for growth of Real Estate Sector in the state.
The ongoing COVID -19 pandemic has affected the Industry sector in our country in many folds. Real Estate sector is one of the most affected sectors. Post lockdown the work at the construction sites has started but at all time low, due to shortage of worker, material supply, sales and marketing, financial constraints etc. So the Real Estate Body had urged the Govt. to take necessary action to give a thrust to the sector.
Speaking on the revival of the Policy, Er. Umesh Pattnaik, General Secretary, CREDAI Bhubaneswar, said “We welcome the steps undertaken by the Govt. of Odisha in introducing some major reforms in planning and building rules for construction of houses and multi-storied apartments in the state with the approval of Odisha Development Authorities (Planning & Building Standards) Rules, 2020. The changes in the rules and regulations definitely will attract more investments in real estate sector and give a boost to GDP growth. We would really like to thank Sri Pratap Jena, Hon’ble Minister, Department of Housing & Urban Development Govt. of Odisha and Shri G. Mathi Vathanan, IAS, Principal Secretary, Department of Housing & Urban Development Govt. of Odisha
The benefits with the revival of the policy are listed below
1. Common Rules for all Development Authorities in the State.
2. Building having upto eight dwelling unitsconstructed in one block not to be considered as apartment buildings.
3. There is no minimum plot size requirement for apartments.
4. Charges for Purchasable FAR reduced to 25% of the benchmark value of land.
5. Option to deposit purchasable FAR, Shelter Fund and External Infrastructure Development fee in four equal instalments.
6. Part occupancy allowed where the project is required to be developed in phases.
7. Setbacks relaxed for all categories of buildings.
8. Permissible limit of FAR has been enhance to 7.00, which is the highest in the country, to encourage vertical growth.
9. In Stacked or Multi-level or Automated parking, the number of Equivalent Car Space (ECS) accommodated shall be taken into parking area calculation.
10. Road width, setbacks, parking requirement have been relaxed for facilitating development of EWS or LIG or MIG housing units.
With all these policy revival and many more provisions in the new Rules the government wants to bring about a positive change in the Real Estate sector, and this may attract investment in the real estate sector.
Er. Pattnaik further added, “We heartily welcome Mr Siddhanta Das as the new Chairman of ORERA. Members of CREDAI Bhubaneswar recently met Hon’ble Chairman to discuss different issues being faced by the Real Estate Sector. We submitted an application regarding the delay in processing for registration of the projects, software issues in online application, compliance issues etc.
After detail discussion Hon’ble Chairman kind enough and decided to streamline the process by allowing the acceptance of offline application till the software issue resolved. Fresh application will be considered with the submission of the hardcopies of the document for those, who have already applied online earlier. The applications will be processed after the submission of requisite application fee through Bank Draft in ORERA. This is meant for those who have not deposited the online application fee and the deficiencies in the applications will be pointed out for compliance at one go. We really like to thank Hon’ble Chairman, ORERA for his quick action in addressing ours issues. Under his able leadership, state real estate sector will definitely touch a new high.
CREDAI Bhubaneswar said, “Looking at crisis scenario during and post Covid 19 Pandemic CREDAI Bhubaneswar had proposed the state Govt. to employ thousands of migrant labourers who have returned from other states to their home villages /towns in Odisha and moreover these returned workers can be trained and engaged in work easily at different sites. CREDAI Bhubaneswar to set up training centers at the sites or different location along with the state Govt. to skill them and employ them. We have requested the state government to support our plan of engaging more than 30000 workers at various ongoing construction sites in Bhubaneswar. This is a win-win situation for workers, the State Government and Real Estate developers and Home buyers.
CREDAI Bhubaneswar, said, “During lock down many under privileged people faced numerous problems in their day today life. To bring respite to people during this difficult time CREDAI Bhubaneswar came forward by joining hands with Bhubaneswar Municipality Corporation. With the help of BMC we distributed 4000 packets of Ration in different slums of the city.