The Economic Offences Wing (EOW) intensified its investigation into a real estate scam involving the alleged duping of 130 homebuyers, resulting in a loss of nearly Rs 15 crore. The company, which promised an ambitious housing project, failed to deliver on its assurances, leaving buyers stranded. The arrest of a senior functionary highlights the need for vigilance in the real estate market and the importance of strengthening regulations to protect homebuyers from fraudulent practices. The investigation aims to bring justice to the victims and promote transparency and responsibility in the industry.Read more

The Bhubaneswar Municipal Corporation (BMC) has decided to e-auction its shops in one of the city's oldest market complexes in Unit IV. The complex, developed through a public-private partnership, faced significant delays and challenges. The BMC will rent out the shops for three years instead of selling them outright. The auction includes 112 shop rooms across multiple floors. The decision aims to revitalize the market space, attract new businesses, and maximize the potential of the project. The move presents an opportunity for interested parties to secure a space in the historic market complex.Read more

The Bhubaneswar Development Authority (BDA) has begun the allotment process for its Daya Enclave housing project, offering 128 two BHK apartments for the Middle-Income Group. Prospective buyers can register on the BDA's official website until July 7 for a chance to participate in the lottery system. However, locals have expressed concerns about the affordability of the apartments, urging the government to consider reducing prices to cater to the target audience effectively.Read more

PNT Reporter

The Bhubaneswar Development Authority (BDA) announced that three premium housing projects are set to be completed by the end of 2023. Two projects are in Kalinga Nagar, with one offering commercial-residential spaces, and the other exclusively residential. The third project is situated in Subudhipur. These developments will cater to middle and high-income groups, with modern amenities such as parks, green spaces, and round-the-clock utilities. The BDA is also working on affordable housing projects for lower-income residents, reflecting its commitment to inclusive urban development.Read more

PNT Reporter

The Bhubaneswar Development Authority's (BDA) affordable housing projects have encountered a roadblock due to compulsory registration under the Real Estate (Regulation and Development) Act, 2016 (RERA Act). The registration, which became mandatory to access central grants, has rendered the projects financially unfeasible due to increased fees. The BDA has sought state government intervention and proposed exempting these projects from the application and late fees. The issue underscores the need for a nuanced regulatory approach to affordable housing, with resolution being vital for the success of such critical initiatives.Read more

The Odisha government is undertaking a comprehensive reform to simplify its outdated and overly complex land classification and ownership systems. With more than 7,000 land-use types and nearly 3,000 forms of land ownership rooted in colonial-era laws, the administration is now streamlining these into 27 use categories and a simplified set of ownership types. This initiative aims to bring transparency, legal clarity, and administrative efficiency. Additional reforms, including updated property conversion fees, new urban planning regulations, and legal safeguards for SC/ST land rights, complement this overhaul. The state is also repealing obsolete statutes and responding to recent judicial guidance on land titles.Read more

The Odisha government is undertaking a comprehensive reform to simplify its outdated and overly complex land classification and ownership systems. With more than 7,000 land-use types and nearly 3,000 forms of land ownership rooted in colonial-era laws, the administration is now streamlining these into 27 use categories and a simplified set of ownership types. This initiative aims to bring transparency, legal clarity, and administrative efficiency. Additional reforms, including updated property conversion fees, new urban planning regulations, and legal safeguards for SC/ST land rights, complement this overhaul. The state is also repealing obsolete statutes and responding to recent judicial guidance on land titles.Read more