Dikhyaa Mohanty 
In the State Assembly on Tuesday, the Odisha Apartment (Ownership and Management) Bill, 2023 was approved. The new legislation will protect apartment owners’ interests. Additionally, it will guarantee that people buying residences do so transparently. The Bill contains provisions to regulate how an apartment’s common rooms are used and to establish an allottees’ union fund for the building’s general expenditures.
Other provisions in the Bill are—
- To make necessary provisions regarding registration of common areas in the name of allottee’s association in accordance with the provisions of the Real Estate (Regulation and Development) Act.
- To register the association of allottees with the competent authority and make uniform provisions by bye-laws for various conditions for its management.
- To determine the relationship of each apartment owner to the apartment owners’ association and the rights and responsibilities thereof.
- To make provision for the formation of an association of apartment owners
- To arrange for insurance of the apartment and to ensure its structural stability
The 5-T initiative’s Bill is a manifestation of Chief Minister Naveen Patnaik’s vision. It will facilitate the resolution of apartment ownership and management concerns and foster mutual respect and openness among all parties involved in the apartment industry.
