Odisha Apartment (Ownership & Management) Bill, 2023 introduced in Assembly

Bhubaneswar: The Odisha Apartment (Ownership & Management) Bill, 2023 was introduced in Odisha Assembly today. The Bill prescribes responsibility and obligation of promoters and apartment owners among others.

As per reports, the said bill speaks about the rules relating to the ownership of an individual apartment in a building with an undivided interest in the common areas.

The Bill that was introduced today has provisions regarding accountability and responsibilities of promoters and rights and responsibilities of the owners of the Apartments towards the Associations of Apartment owners. It also prescribes about the formation of Association of apartment owners.

Reportedly, the said bill requires the promoter to transfer all title documents to the association of the apartment owners within 30 days of issue of the occupancy certificate.