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By Staff Reporter

The Confederation of Real Estate Developers’ Associations of India (CREDAI), Odisha Chapter, expresses its support for the recently released Apartment (Ownership and Management) Ordinance 2023 by the Government of Odisha. While a thorough review of the ordinance is pending, CREDAI is optimistic that it complies with the Real Estate (Regulation and Development) Act (RERA). The organization believes that this ordinance has the potential to facilitate sale deeds in Odisha and enable the transfer of common areas to the Association of Allottees, a significant step in line with RERA provisions.

As real estate developers, CREDAI stands in solidarity with the government’s efforts to enhance the regulatory environment in Odisha’s real estate sector. The ordinance is seen as a vital milestone towards achieving balanced growth in the industry, and CREDAI is eager to contribute to its successful implementation.

Recognizing that challenges may arise during the implementation process, CREDAI is committed to engaging in meaningful dialogue to address any potential bottlenecks. The organization is prepared to utilize its expertise, resources, and support to facilitate a smooth implementation and enhance the effectiveness of this significant initiative. As key stakeholders, CREDAI is open to continuous discussions to improve and adapt the ordinance’s provisions in response to the dynamic realities of the real estate landscape. The organization congratulates the Government of Odisha on this initiative and looks forward to continued collaboration in promoting a more transparent, efficient, and fair real estate sector in the state.

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