Bhubaneswar, Feb 17: On Friday, the Odisha government introduced the Odisha Apartment (Ownership and Management) Rules, 2024, streamlining and simplifying the registration process for apartment ownership.

According to the rules outlined in the notification by the Housing and Urban Development Department, promoters or allottees must submit an application to the competent authority for the formation and registration of the association of allottees, along with their bye-laws for approval. The rules also delineate the accountability and responsibility of promoters.

These rules are designed to oversee the use of common areas within an apartment complex and establish a common fund to cover shared expenses. Provisions have been included regarding the registration of common areas in favor of the association of allottees, aligning with the regulations of the RERA Act.

Additionally, the rules define the rights and responsibilities of each apartment owner concerning the association of apartment owners, as well as provisions for apartment insurance and ensuring structural stability.

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