Odisha Government to Simplify Real Estate Laws for Easier Sale Deed Registration
The Odisha government is set to revise key real estate regulations to streamline the sale deed registration process for plots and apartments, addressing current bottlenecks and revenue losses.
Real EstateSale Deed RegistrationOdisha GovernmentProperty LawsRegularizationReal EstateNov 26, 2024
Revenue and Disaster Management Minister Suresh Pujari highlighted the issues during a recent stakeholder meeting. 'There are some hurdles in the registration of sale deeds for apartments and land in the state, and the government is deliberating on bringing necessary changes to the laws and existing regulations,' Pujari stated on Tuesday. He emphasized that the current situation is causing significant problems for citizens who face difficulties in completing sale deed registrations and is also leading to a substantial revenue loss for the government from stamp duty and registration fees.
Pujari assured that the necessary amendments will be made to the rules and regulations to make the registration process smoother. 'The changes will be incorporated into the laws, and implementation will be carried out very soon,' he added.
The sale deed registration process for apartments and land faced a significant setback in 2022 when the Orissa High Court, while hearing a petition, directed the Inspector General of Revenue to ensure strict adherence to all rules at the sub-registrar level. This directive caused a halt in the registration process, affecting many property owners and developers.
The situation improved slightly this May with the enactment of the Odisha Apartment (Ownership and Management) Act of 2023. However, the number of registrations remains low due to the Act's stringent requirements, such as the need for an occupancy certificate and an association of allottees' certificate. Many apartments in the city lack these necessary certificates, leading to ongoing issues with registration and re-registration.
Real estate expert Bimalendu Pradhan noted that a few sub-registrars registered deeds in violation of the rules and were subsequently dismissed from their positions. Pradhan suggested that the government should also introduce a regularisation scheme for existing buildings. 'Regularisation is the only way to remove all the bottlenecks in sale deed registration,' he emphasized.
The government's efforts to streamline the real estate laws are expected to enhance transparency and efficiency in the property market, benefiting both buyers and sellers while ensuring that the government can collect the rightful revenue from stamp duty and registration fees.
Frequently Asked Questions
Why is the Odisha government revising real estate laws?
The Odisha government is revising real estate laws to address current bottlenecks in the sale deed registration process for plots and apartments, which are causing difficulties for citizens and leading to revenue losses for the government.
What laws are being revised?
The laws being revised include the Odisha Real Estate (Regulation and Development) Act of 2016, the Odisha Apartment (Ownership and Management) Act of 2023, and other laws related to development authorities.
What issues are currently faced in sale deed registration?
The current issues include strict adherence to rules at the sub-registrar level, the need for occupancy certificates, and association of allottees' certificates, which many apartments lack.
What is the role of the Orissa High Court in this process?
The Orissa High Court directed the Inspector General of Revenue to ensure strict adherence to all rules at the sub-registrar level, which caused a halt in the registration process in 2022.
What is the suggested solution to these issues?
Real estate expert Bimalendu Pradhan suggests introducing a regularisation scheme for existing buildings to remove all bottlenecks in sale deed registration.
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