In a significant move to enhance transparency and protect homebuyers' interests, the Odisha Real Estate Regulatory Authority (ORERA) has mandated that developers upload occupancy and completion certificates of housing projects onto its official website. This directive aims to ensure that residential projects comply with established norms and are fit for habitation.
- Definition
of Certificates:
- Completion
Certificate: A legal document confirming that a
building has been constructed in accordance with approved plans and
complies with all applicable regulations.
- Occupancy
Certificate: A document issued by the local
authority certifying that a building is suitable for occupation, ensuring
it meets all necessary safety and habitability standards.
- Mandatory
Upload Requirement:
- Developers
are now required to upload both completion and occupancy certificates
onto the ORERA website upon project completion. This process replaces the
previous practice of submitting hard copies directly to ORERA. The online
availability of these certificates allows homebuyers and other
stakeholders to verify the project's compliance status easily.
- Implications
for Quarterly Progress Reports (QPR):
- The
submission of quarterly progress reports is typically mandatory for
ongoing projects. However, upon uploading the completion and occupancy
certificates, developers are exempted from filing these reports. This
exemption underscores the project's completion and readiness for
habitation.
- Homebuyer
Benefits:
- The
public availability of these certificates enhances transparency, enabling
homebuyers to make informed decisions. It also ensures that developers
adhere to regulatory standards, safeguarding buyers from potential
discrepancies.
- Regulatory
Compliance:
- This
initiative aligns with Section 11(4)(b) of the Real Estate (Regulation
and Development) Act, 2016, which obligates promoters to obtain and share
completion and occupancy certificates. Non-compliance with this directive
may result in penalties or other regulatory actions.
The ORERA has mandated that real estate developers must upload completion and occupancy certificates of housing projects to its website. The completion certificate verifies adherence to construction norms, while the occupancy certificate confirms the building's safety for habitation. Developers are exempt from submitting quarterly progress reports only after uploading these certificates. This initiative aims to enhance transparency, allowing homebuyers easy access to crucial documents and fostering trust in Odisha's real estate market. Industry experts, like Bimalendu Pradhan, support this move, noting it empowers homebuyers to request and receive essential documentation from developers.
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