Realtor Fined Rs 2 Crore for Unauthorized Plot Sales in Bhubaneswar
The Odisha Real Estate Regulatory Authority (ORERA) has imposed a Rs 2 crore penalty on a local realtor for selling plots without the necessary approvals and registrations.
RealtorFineBhubaneswarOreraReal EstateReal EstateJul 27, 2025
The project was heavily promoted through social media to attract potential buyers. However, an investigation by ORERA revealed that the promoter began selling plots in November 2024, despite the lack of necessary approvals from the Bhubaneswar Development Authority and the absence of registration with ORERA. This violated Sections 3 and 17 of the Odisha Real Estate (Regulation and Development) Act, 2016.
By the time the investigation was conducted, 30% of the total plots, valued at Rs 550 crore, had already been sold. Additionally, road construction was underway, further highlighting the unauthorized nature of the project. The promoter's failure to contest the findings made him liable for a penalty of up to 10% of the project’s cost as per the Act.
The ORERA’s order stated, “The respondent is directed to deposit a sum of Rs 2,00,00,000 as penalty within two months, failing which the same shall be realized as per law. The respondent-promoter is hereby directed to register the project under the RERA Act within two months from the date of receipt of this order, failing which further legal action will be initiated against him as per law.”
This stringent action by ORERA underscores the importance of compliance with real estate regulations in Odisha. It serves as a warning to other developers and promoters to adhere to the necessary legal procedures to avoid hefty penalties and legal repercussions.
Frequently Asked Questions
What is the penalty imposed by ORERA on the local realtor?
The Odisha Real Estate Regulatory Authority (ORERA) has imposed a Rs 2 crore fine on the local realtor.
Where is the Infogreen City Overview project located?
The Infogreen City Overview project is located at Haridamada, on the outskirts of Bhubaneswar.
What sections of the Odisha Real Estate Act were violated by the promoter?
The promoter violated Sections 3 and 17 of the Odisha Real Estate (Regulation and Development) Act, 2016.
How much of the project had already been sold by the time of the investigation?
By the time of the investigation, 30% of the total plots, valued at Rs 550 crore, had already been sold.
What is the deadline for the promoter to deposit the penalty and register the project?
The promoter is directed to deposit the Rs 2 crore penalty and register the project under the RERA Act within two months from the date of receipt of the order.
Related News Articles
Elevating Civil Aviation: Mohol's Pioneering Role in Pune
Discover how Mohol is driving growth in Pune's civil aviation sector, with insights from Hemant Rasne, former Mayor and BJP leader.
Budget 2024: A Boost to Sustainable Growth in Real Estate
The Union Budget 2024 focuses on MSMEs, employment, skilling, youth, and middle-class, with indirect benefits to the real estate sector through job creation, infrastructure, and urban redevelopment.
Dubai Real Estate Market Sets AED 141.9 Billion Quarterly Sales Record in Q3 2024
Dubai’s real estate market achieved a significant milestone in Q3 2024, with total sales reaching AED 141.9 billion, marking a new all-time high for a single quarter. This achievement surpassed the previous record of AED 124.07 billion set in Q2 2024, ref
Elan Group Gets a Boost with Rs 1200 Crore from Kotak Real Estate Fund
The investment will serve as growth capital, helping Elan Group cement its position in the thriving real estate market of Gurugram. This strategic move is expected to accelerate the company's expansion and development projects in the region.
Delhi-NCR: The Metro City Witnessing a Massive Surge in Housing Prices
The report suggests that the price appreciation in Delhi-NCR is attributed to rising demand for high-end properties. Read more to know the details.
Radisson Resort Khopoli Launches as a Luxurious Getaway Near Mumbai and Pune
Radisson Hotel Group has expanded its footprint in Maharashtra with the opening of Radisson Resort Khopoli, offering a premium retreat for travelers near Mumbai and Pune.