Non-receipt of RERA registration hits realty sector
The real estate activity in the State has been largely affected as none of the projects were able to receive registration numbers from the Real Estate Regulation Authority (RERA), said Confederation of Real Estate Developers’ Association of India (CREDAI) Odisha president DS Tripathy at a press conference here on Wednesday.
Tripathy said as per RERA Act, any project can be advertised or sold which are having registration numbers of RERA after deadline of July 31, 2017. However, all ongoing projects applied prior to July 31 have to seek compliance from RERA.
He said further, the registration process under RERA was started at the end of deadline where many developers of the State, were not be able to register their projects because of lack of information about RERA and its full functioning.
“As many States has simplified the process by receiving online registration and giving instant registration number of projects but in Odisha application were received manually without providing any assistance or guidance to developers which ultimately resulted in stopping of new business at the time when developers were anticipating some good news in coming festive seasons after facing the hard period of recession and demonetisation,” he added.
“Hence, we urge the Government to allow the sale of ongoing projects till full functioning of the RERA or make the RERA full functional without any further delay to save the real estate industry. Further, we urge to extend the date for registration of ongoing projects under RERA to facilitate many developers of various cities of the State those were unable to register their projects because of lack of awareness, unavailability of online facility and providing limited days for registration instead of three months allowed under the Act, demanded Tripathy.
Among others, Credai Odisha president Binay Krishna Das, president (elect) SK Routray and secretary SS Garabadu were present.
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