The Odisha Real Estate Regulatory Authority (ORERA) has taken action against a builder for failing to comply with the terms of its registration. The builder has been directed to stop accepting bookings for a housing and commercial project in Phulnakhara, located near the city. This decision comes after ORERA found that the builder had made changes to the project without proper approvals and delayed handing over units to buyers.
Background
The builder had registered the project with ORERA in 2019, with revisions made in 2021. Initially, the project was planned to include 1,626 residential units and 571 commercial units. However, in 2024, the builder made significant changes, increasing the number of residential units to 3,157 and commercial units to 796. Despite these changes, the project faced delays, and no units were handed over to buyers.
ORERA found that the builder had failed to obtain approvals from two-thirds of the allottees before altering the project plan. This violated provisions under the Real Estate (Regulation and Development) Act, which requires developers to seek the consent of buyers for major changes. The builder was also found to have misrepresented information to buyers and the regulatory authority, creating further complications.
