Bhubaneswar: ORERA ( Odisha Real Estate Regulatory Authority of India) has released a list of about 60 promoters who would be charged a heavy amount of penalty for illegally violating the rules of the Odisha Real Estate ( Regulatory and Development) Act 2016. These are the promoters who are not registered in ORERA and also do not flow the guidelines for plotting schemes. As they are unregistered promoters they also lack approval for the layouts of their projects. Their projects have already been sold out to the buyers without ORERA approval, stated by Bimalendra Pradhan, an activist.
Odisha Real Estate Regulatory Authority has imposed about 66 crore penalties on such defaulters. The real estate developers have to clear a total of 68 crores to the organisation, as they have only paid 23 lakh out of those hefty penalty amount.
Such defaulter real estate developers list have been published by ORERA on 28 November ad there has been a severe distinction by not copying with the statutory provisions of the Real Estate ( Regulation and Development) Act 2016, which is made to keep the process of buying and selling of plots transparent to protect the best interest of the buyers as well as to a smooth and easy remedy for disputes.
As per this Act the real estate promoters have to register all the projects whether commercial or residential under the Odisha RERA. No promoter is allowed to advertise, market, book, sell, offer, invite any party to purchase any land without registering the project with the concerned authority.
If bought any of such plot, land or property that 8s unregulated the buyer will have to face certain problems like not getting power and water connections including other legal troubles as it is illegal.
-OdishaAge
