Odisha Urban Development Minister Krushna Chandra Mahapatra announced that old apartments built before 2016 can now be freely bought and sold.
The government issued a new notification after amending provisions of the Real Estate (Regulation and Development) Act (RERA).
According to the minister, the amendment clears long-standing confusion over transactions involving older apartments. Until now, many buyers and sellers faced restrictions and uncertainty under RERA guidelines. The new rules provide clarity and open the market for the resale of pre-2016 constructions.
Officials explained that the decision aims to boost real estate activity and give relief to homeowners who struggled to sell older properties. The notification also ensures that transactions remain transparent and legally valid.
District administrations and housing authorities will oversee the implementation of the revised rules. The government expects the move to encourage investment in housing and improve liquidity in the property market.
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