Real Estate Sector To Boost As Odisha Govt Takes New Initiatives

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Bhubaneswar: A new set of rules namely, Odisha Development Authorities (Planning & Building Standards) Rules, 2020, has been approved by the government which will obviate the need for formulating multiple regulations by the development authorities.

These Rules are stated to be both proactive and progressive. Reportedly, these Rules will address the concerns of all the segments of urban population. There are many exemptions, relaxations and incentives, which will not only make the small private buildings easy to plan, construct and occupy, it will also encourage construction of large scale high-rise projects to make the housing units more affordable.

The setbacks have been relaxed for almost all the categories of buildings. The restriction of maximum FAR on low-risk buildings has been removed. 108 pre-approved designs for low-risk buildings have been made readily available, which will not only reduce the dependency of people on the architects, technical persons and the Planning Authorities, the plans will also get approved almost instantly.

The construction of houses and obtaining Occupancy Certificates will be much easier than before. Provisions have also been made for development of commercial use in residential buildings. These are all going to help increasing housing stock considerably.

The Rules also facilitate significant improvement in the Affordable Housing sector through a lot of relaxations and exemptions. The setbacks, approach road, parking, and many other building norms have been relaxed to attract more and more investment in the housing sector.

However, what is most significant is the amendment of the Policy for Housing for All in Urban areas, Odisha, 2015, which is going to attract more private partners to come forward to collaborate with the Government in construction of Affordable Houses for the EWS and LIG category.

Now the Private developer can get 60% of the project land on a freehold and free of cost basis for developing affordable housing over 40% of the project area. Our State is the first in the entire country to take such a path-breaking and progressive initiative. Besides, 20% of all plotted developments will have to provide for EWS and LIG categories.

It is also expected that the Rules will give boost to the Real Estate Sector substantially. The Rules have raised the limits of maximum FAR upto 7, which is the highest in the country. This will make high rise buildings possible. Setbacks have been relaxed.

Exemptions have been given in the stilt, basement, etc. The rate of purchasable FAR has been reduced to half. A lot of relaxations have been given for flexibility in design. Relaxations in open spaces have also been provided. Part occupancy has also been allowed.

Structural stability and fire safety norms have been made non-negotiable. All these measures are expected to make real estate sector in Odisha vibrant and futuristic.

The Government has also been conscious of the environmental impact, therefore the ground coverage restrictions have been introduced along with various measures for enhancing green cover and open spaces. Provisions relating to enforcement have also been made more stringent and third party inspection has also been introduced along with various penal measures.

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