Buying your dream home is one of the most challenging decisions of one’s life. Today we have numerous real estate developers in Odisha who are coming up with multiple projects. How do we know which projects are legally safe and reliable? Here comes the role of Odisha Real Estate Regulatory Authority (ORERA) which upholds the trust of buyers in the real estate industry of Odisha by bringing in more transparency and safety.
As the industry is becoming more dynamic, chances of unfair practices and false promises are increasing simultaneously. RERA protects the prospective buyers from such malpractices and aims to ensure that developers stick to their commitments in terms of project delivery, construction quality and all legal compliance.
How Odisha is Doing Under RERA
The state of Odisha has taken steps to implement RERA across its real estate sector. Let’s take a look at the latest numbers from the official Odisha RERA website:
- Total Projects Registered : 1,026
- Projects Completed (with Occupancy or Completion Certificate) : 125
- Projects Rejected : 163
- Projects with Valid Registration : 608
- Projects with Expired Registration : 292
These numbers tell us that while over 1,000 projects have tried to register, only a small percentage have successfully completed their construction. Around 163 projects were rejected and nearly 300 projects have had their registration expire. This raises an important question about why are so many projects not getting approved or completed under RERA?
Why Projects Get Rejected or Fail Under RERA
There are various reasons of project disapproval and delay in Odisha by RERA:
Documents checklist not met – RERA has a complete checklist and set of documents that the builders need to submit for registration. A small mistake or missing of any of the important documents leads to rejection.
Government approvals missing – Real estate developers are expected to get requisite permissions from government and local authorities. Failure to do this and beginning the construction work without permission leads to disapproval of the project.
Builder’s background matter – Real estate developers who have a poor track record of timely delivering the projects or whose projects are often involved in legal issues, RERA disapproves projects of such builders.
Registration expired – As per RERA guidelines, on time delivery and handover of the project is the key requirement for builders. If the projects are delivered according to it and also, the builders do not renew their RERA license, they are put under the expired list.
Thus, as a part of awareness, buyers should always check whether the project is RERA approved before making any investment. If you are looking for a RERA approved villa in Phulnakhara, Bhubaneswar, Krishna Downtown by Krishna Properties is a good choice to make because it follows all RERA norms and keeps buyers updated at every stage of construction. Thus, buyers are aware about the project progress and can make a wise decision analysing the current status of the project.
Why RERA is Important for Homebuyers
- Protects Your Money: Builders must keep a specific part of the project funds in a separate bank account. This ensures the money is used only for that particular project.
- Timely Delivery: RERA penalizes builders who delay the project without valid reasons.
- Legal Safety: All the legal clearances, land titles, and approvals must be submitted to RERA, giving buyers peace of mind.
- No False Promises : Builders cannot advertise anything that is not officially approved under RERA.
In simple words, RERA safeguards the hard-earned money of the buyers by giving them confidence and trust through fair real estate practices.
Krishna Properties: A Builder Who Truly Understands RERA
In Odisha, not all builders have fully understood the value and responsibility that comes with being RERA-compliant. But Krishna Properties is different. They are one of the few RERA compliant builders in Bhubaneswar who are fully aware of all RERA rules and follow them sincerely.
Whether it’s project documentation, government clearances, or customer communication, Krishna Properties ensures that everything is clear, legal, and honest. This is one reason why homebuyers looking for a RERA approved villa in Phulnakhara, Bhubaneswar often trust Krishna Properties over others.
They don’t just aim for RERA approval, they live by its rules, which makes them stand out in today’s market.
What You Should Do Before Buying a Property
Before investing in any real estate project in Odisha, make sure to:
- Check RERA Registration: Visit the Odisha RERA portal and verify if the project is registered.
- Verify the Builder: See if the builder is known for following RERA rules. Look for RERA compliant builders in Bhubaneswar with a strong reputation.
- Ask for Documents: Don’t hesitate to ask the builder for legal approvals, land records, and the RERA certificate.
- Compare Projects: Choose builders who have a good history of completing projects and delivering on time.
Final Thoughts
RERA has brought a new level of fairness and trust to Odisha’s real estate market. But many builders are still not fully following the rules, leading to project rejections, delays, and expired registrations.
The good news is that builders like Krishna Properties are leading the way showing how RERA should be followed to protect buyers and build lasting trust. If you’re planning to buy a home, especially a RERA approved villa in Phulnakhara, Bhubaneswar, Krishna Downtown by Krishna properties is one smart choice because as a builder it understands RERA not just as a rulebook but as a promise to their customers.
