Submit declaration on past projects, Real Estate News, ET RealEstate
BHUBANESWAR: Promoters will now have to submit a self-declaration mentioning projects they have taken up in the past to inform homebuyers with the Odisha Real Estate Regulatory Authority (ORERA) issuing an order to this effect on Friday.
ORERA said that while applying for registration of any real estate project, promoters will have to mandatorily submit the self-declaration wherethey will mention all the details of their housing and other projects.
In order to ensure that homebuyers or allottees make an informed decision while purchasing an apartment or a plot from a particular promoter, it is felt necessary to provide such homebuyers or allottees of the status of the earlier real estate projects taken up by such promoter in the capacity of director or partner or proprietor as the case may be in Odisha, the order read.
The promoter will also mention if any complaint or execution case pending in the project in the RERA court or any order issued against the promoter or project by RERA and give a status of the complaint.
