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In a significant development for apartment owners in the state of Odisha, the Housing And Urban Development Department has officially announced the Odisha Apartment (Ownership and Management) Act, 2023. This landmark legislation is poised to bring clarity and structure to the realm of apartment ownership, specifying the rights and responsibilities of residents in multi-unit housing complexes.
After receiving the governor's consent on October 27, the bill, initially proposed by Housing And Urban Development Minister Usha Devi on September 25, is now in effect. The Act is designed with the primary objective of improving the management of apartments within housing complexes.
Key provisions of the Act include a clear definition of exclusive apartment ownership upon handover from the developer. This grants owners the right to sell, mortgage, lease, or gift their apartment to whomever they choose, while also allowing them access to common areas and facilities within the complex.
Additionally, the Act places a mandate on developers to transfer ownership of common areas and facilities within the property to the apartment association, which will assume responsibility for their maintenance and upkeep.
Furthermore, developers are required to submit a comprehensive declaration to the competent authority, containing details such as the land on which the apartment was constructed, approved building plans, and a detailed description of the building, including common areas and facilities.
The legislation delineates the specific responsibilities and obligations of both developers and apartment owners. Developers are obligated to rectify any structural defects within the property for a period of five years following the handover to the owner. Meanwhile, apartment owners must use common areas and facilities as intended, refrain from repurposing service areas and basements, and bear the cost of maintaining their individual apartments.
This act is expected to bring a significant level of transparency and accountability to the apartment ownership landscape in Odisha, offering clear guidelines for developers and apartment owners alike.
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