CREDAI Odisha Supports the Apartment (Ownership and Management) Ordinance 2023

BHUBANESWAR: The Confederation of Real Estate Developers’ Associations of India (CREDAI), Odisha Chapter, hereby expresses its support for the Apartment (Ownership and Management) Ordinance 2023, recently released by the Government of Odisha.

While we have not yet reviewed the complete details of the ordinance, we are hopeful that it is in compliance with the Real Estate (Regulation and Development) Act (RERA). We firmly believe that this ordinance will potentially open the doors for sale deeds in Odisha and the transfer of common areas to the Association of Allottees, a significant step aligned with the provisions of RERA.

We, the real estate developers, stand by the government’s effort to improve the regulatory environment in Odisha’s real estate sector. We see this ordinance as a crucial milestone in the path to balanced real estate growth, and we are eager to contribute to its successful implementation.

We understand that there may be hurdles along the way and are ready to engage in meaningful dialogue to address any potential bottlenecks. Our fraternity is committed to lending its expertise, resources, and support to smooth the implementation process
and enhance the effectiveness of this significant initiative. As key stakeholders, we are prepared for open discussions to continuously improve and adapt the provisions of the ordinance to the dynamic realities of the real estate landscape. We congratulate the Government of Odisha on this initiative and look forward to our continued collaboration in promoting a more transparent, efficient, and fair real estate
sector in the state.

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