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The Real Estate Regulatory Authority (RERA) was created under the Real Estate (Regulation and Development) Act, 2016, to promote transparency, accountability, and efficiency in India’s real estate sector. 

Each state has its own RERA authority to oversee real estate activities within its jurisdiction. In Odisha, the Odisha Real Estate Regulatory Authority (ORERA) ensures that real estate transactions are conducted fairly, protecting the interests of both buyers and developers. 

This article will explore what is RERA, its functions, objectives, rules and regulations, and how to register for it on the Odisha RERA website.

Purpose of Odisha RERA

The Odisha Government launched the RERA Act on May 1, 2017, to build trust between real estate buyers and sellers in the state. This Act regulates the real estate sector, aiming to make it more organised and transparent. With the Odisha Real Estate Regulatory Authority in place, a balanced and cooperative environment is promoted between buyers and sellers.

Functions of Odisha RERA

Odisha RERA functions as the authority managing real estate transactions and projects across the state. Its key roles include-

  • Promoting an efficient, transparent, and competitive real estate sector.

  • Ensuring plots and apartments are sold transparently.

  • Protecting the rights of buyers and real estate developers.

  • Providing a system for quick resolution of disputes.

  • Maintaining a website with details on all registered real estate projects and agents.

  • Offering an online platform for project and agent registration, as well as for filing complaints.

RERA Act Odisha: Rules and Regulations

Here are certain rules and regulations for Odisha RERA.

1. Mandatory registration- All commercial and residential projects over 500 square metres or with more than eight apartments must register with RERA.

2. Project details disclosure- Developers must disclose project timelines, layout plans, approvals, and other essential details.

3. Escrow account requirement- Developers must maintain 70% of project funds in a designated escrow account to ensure financial discipline.

4. Agent Registration- All real estate agents involved in property sales must register with RERA Odisha.

5. Interest on delays- If project delivery is delayed, buyers are entitled to compensation, including interest on the amount paid.

Odisha RERA Fees and Charges

The fees associated with RERA Odisha registration differ based on the nature and scope of the project or agency. Here is an overview of the registration fees.
 

Category Type Fees (INR)

Project Registration

 Residential project 5 per square metre
Commercial project 10 per square metre
Mixed project (residential & commercial) 14 per square metre
Category Type Fees (INR)

Individual Agent

 Registration 10,000
Renewal 2,000
Category Type Fees (INR)

Company Agent

 Registration 1,00,000
Renewal 20,000


Charges to file a complaint with the concerned authorities are as follows-
 

Type Fees (INR)

Before regulatory authority

 1,00,000

Before adjudicating officer

 20,000

Features and Benefits of Odisha RERA

RERA brings several advantages to homebuyers, developers, and real estate agents:

1. For buyers, it ensures projects are completed on time, with transparent financial dealings and a system to resolve any issues that arise.

2. Developers benefit from project registration, which builds trust with potential buyers, and the streamlined procedures help prevent legal challenges.

3. Real estate agents gain formal recognition and a standardised framework for their work, boosting credibility and professionalism in the industry.

Eligibility Criteria to Be Part of Odisha RERA

RERA has specific eligibility criteria for developers and agents.

For developers-

  • Developers must register their projects with Odisha RERA before promoting or selling any units.
  • Registration is required for projects that meet certain size criteria set by RERA.
  • Developers must follow construction standards to protect buyers' interests.
  • Developers must obtain necessary clearances from local and relevant authorities before applying for registration.
  • They may need to prove they have the financial capacity to complete the registered project.
     

For real estate agents-

  • Both individual agents and firms must register with Odisha RERA before engaging in any real estate activities.
  • Agents must follow the code of conduct set by Odisha RERA.    
  • Agents may need specific educational qualifications or certifications.
  • Agents must not have any criminal convictions or disqualifications that could impact their ability to operate.

 

Documents Required for RERA Odisha Project Registration

For successful online registration with RERA Odisha, promoters and agents need to submit the following documents.

  • PAN card

  • Aadhaar card

  • Details of agents/promoters, including their names, address, and photographs

  • Record of Rights (RoR) or ownership details of the land

  • Annual reports, income tax returns, and audit reports for the past three years

  • Approved site plan and layout

  • Conveyance deed

  • Location map of the project

  • Encumbrance certificate

  • Construction and development agreement (if applicable)

  • Approval letters for construction

How to Register as a Promoter with RERA Odisha

To complete the Odisha RERA registration as a promoter, follow these simple steps:

Step 1: Go to the official RERA Odisha website.

Step 2: Click the "Do you want to register your project/ as an agent?" option.

Step 3: If you're not already registered as a promoter or agent, select "No" when asked.

Step 4: Read the guidelines carefully and provide the necessary details in the application form.

Step 5: Press on the "Proceed to login" button to move forward.

Step 6: Sign in to your account with your username and password.

Step 7: Once logged in, go to the dashboard and finish the registration process.

How to Register for RERA Odisha for Agents?

To complete the RERA registration Odisha process as an agent, follow these simple steps:

Step 1: Visit the official website : Go to the RERA Odisha official website.

Step 2: Click on the option to register as a project agent or promoter.

Step 3: You’ll be redirected to another page. If you're not already registered, select the “No” tab.

Step 4: An application form will appear. Enter the required details as per the registration format for the agent or promoter role.

Step 5: Set up a unique user ID and password for your account login.

Step 6: Click the "Register" button to finalise your registration.

To End

RERA Odisha is essential for building transparency and trust in Odisha’s real estate market. Choosing a RERA-approved project offers homebuyers a secure and dependable investment. 

To make financing easy, explore Tata Capital’s home loan designed with your needs in mind. We provide loans with high loan amounts, flexible repayment terms, and attractive housing loan rates. To plan your budget, use our calculator for housing loans to get a quick estimate of your monthly EMI in advance.

Visit the Tata Capital website or download our app today!

FAQs on RERA Odisha

Is RERA applicable in Odisha?

    Yes, RERA is operational in Odisha. It regulates real estate activities in the state to ensure transparency, accountability, and buyer protection.

What is the registration fee for a RERA agent in Odisha?

The registration fee for individual agents is Rs. 5,000, while for company agents, it is Rs. 1 lakh.

How long does it take for the Regulatory Authority to register a real estate project in Odisha?

The RERA certificate is usually issued within 30 days. However, it may be issued earlier or delayed depending on the circumstances.

When can a promoter start advertising their project for sale in Odisha?

A promoter can start advertising their project for sale only after it has been registered with the Regulatory Authority, as per section 3(1) of the Act.

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