Bhubaneswar, Oct 14: The Odisha government has invited suggestions from the people on the draft of the Odisha Apartment (Ownership and Management) Bill, 2023 was published in the Odisha Gazette, the Housing & Urban Development department sought suggestions and valuable opinions from the citizens within 30 days.
Apartment (Ownership and Management) Bill, 2023, which was passed in the Assembly during the monsoon session on September 26, aims at consolidating the laws relating to ownership of apartments in a building with an undivided interest in the common areas and facilities.
The Bill will also facilitate better management of apartments by dealing with various matters related to the issue. The buyers can have exclusive ownership of the apartment with the right to an undivided interest in common areas and facilities.
The Bill also provides that the promoter will have to execute a deed of transfer of apartment in the name of the allottee mentioning the right in derails under the Registration Act.
The promoter, who will not abide by the provisions of the Bill, will be penalized up to Rs 5 lakh for unfair practices.