CREDAI state level builders meet concluded

Bhubaneswar: Over 100 builders from 8 cities join the meet to discuss various key issues of real estate sector organized by CREDAI Odisha, a leading real estate association of state at Hotel Swosti Premium, Bhubaneswar. The issues like: Delay in getting project registration by RERA, block approvals are still kept on hold by RERA authority, completed projects also forced to register in RERA in absent of occupancy certificate which has been waived out in other state, payment of 7% charges on Power of Attorney through getting land on basis of Development Agreement, non refundable 2% charges for executing sale agreement with customer after RERA Acts etc.

The meeting was concluded with highlighting the module followed by other progressive state and it was decided to meet the respective authority and policy maker to brief the difficulty of realty sector to streamline the process for proper growth of this sector. The other leading state has adopted many reforms to minimize the investment on realty sector to create more stock of affordable housing in market.

However, in our state in spite of having affordable housing policy, the private developers are unable to tap the market because of other unreasonable revenue charges increase the initial investment and increase of cost of housing. On the occasion Mr. D.S.Tripathy, Mr. S.K.Routray, Mr. B.K. Das, Mr. Madhu Mohanty, Mr. Md. Muquim, Mr. Umashankar Panigrahy, Mr. Umesh Khandelwal, Mr. Anil Kumar Agrawal, Mr. S.S. Garabadu, Mr. P. R. Maharana, Mr. Prasana Ku Padhy, Pankaj Motwani & others official of CREDAI State and City Chapter were spoke.

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