Bhubaneswar, Feb 18: The Odisha government has simplified flat registration process in the Apartment (Ownership and Management) Rules, 2024, notified recently.
As per the rule, necessary provisions have been made relating to registration of common area in favour of association of allottees in line with the provisions of RERA Act.
It will ensure compliance with the relevant Act, rules and Regulations to effectively safeguard the interest of the apartment owners.
The rules laid down in the notification issued by the Housing and Urban Development department provide for registration and formation of an association of allottees and provision for modification of bye-laws of the association of the allottees or apartment owners among others.
The Apartment Ownership Rules 2024 will regulate the use of common area in an apartment. It will also help create a common fund to meet the common expenses of the same.
There is provision for registration of association of allottees with the Competent Authority to make uniform provisions for registration and its terms and conditions to be provided in the bye-laws. It also clearly spells out the accountability and responsibility of promoters.
It provides for Rights and Responsibilities of each apartment owner in relation to the association of apartment owners and to create provisions for insurance of the apartment and ensure its structural stability.
The Apartment Ownership Rules 2024 will come into effect following its publication in the Odisha Gazette soon.
