The Odisha Real Estate Regulatory Authority (ORERA) issued a direction on 7 December 2024, introducing changes to the processing fee for agent registration, renewal, project registration, and extension fees. The revised framework aims to address issues arising from non-refundable fees in rejected applications and streamline the payment process for promoters and agents.
Key Changes for Agent Registration and Renewal
- Processing Fee Implementation:
Applicants for RERA Agent Registration and renewal must now pay a non-refundable processing fee of ₹1,000 at the time of application submission. - Registration and Renewal Fee Post-Approval:
Once an application is approved, the specified registration or renewal fee will be collected. This eliminates the previous practice of collecting fees upfront, which became non-refundable in case of application rejection. - Reason for Changes:
ORERA noticed that several applications were rejected due to non-compliance with required conditions, leaving applicants unable to claim a refund. The new system ensures financial fairness and avoids unnecessary fee losses for applicants.
Key Changes for Project Registration and Extension
- Processing Fee for Project Applications:
Promoters applying for project registration or extension must pay a fixed ₹5,000 processing fee during application submission. Facilitation charges and other fees levied earlier are no longer applicable. - Payment of Registration and Extension Fees Post-Approval:
After scrutiny and approval of the project or extension, promoters will deposit the full registration or extension fees as prescribed under Regulations 4(1) and 4(3). - Simplified Refund Process:
Promoters previously faced difficulties in refund claims due to discrepancies between actual and declared land areas. The revised payment system eliminates the need for refunds by collecting fees only after application approval.
Implications of the New Guidelines
These changes reflect ORERA’s commitment to ensuring fair practices and financial transparency for agents and promoters. The introduction of a separate processing fee prevents financial losses for applicants in rejected cases, while the post-approval payment structure reduces administrative hurdles and disputes.
