Bhubaneswar: The Confederation of Real Estate Developers’ Associations of India (CREDAI), Odisha State Federation, has expressed its sincere gratitude to the Government of Odisha for introducing a major reform in the registration process of apartment projects by rationalising stamp duty on the transfer of common areas and facilities.
Under the Odisha Apartment (Ownership and Management) Act, 2023, the transfer of entire common areas and facilities in favour of the Association of Allottees at the time of registration of the first deed of conveyance was made mandatory. However, the requirement of paying 5% stamp duty for execution of such deed had resulted in a substantial financial burden on apartment owners and had created practical impediments in timely registration.
To address this concern and simplify the process, the State Government has now inserted a new Clause-D under Article-23 of Schedule-I-A of the Indian Stamp Act, 1899. With this amendment, the Association of Allottees is required to pay only a nominal stamp duty of ₹50,000 for execution of the deed of conveyance for common areas and facilities. At the same time, the applicable 5% stamp duty on the individual apartment unit, along with the undivided proportionate share in the common areas and facilities, will continue to be collected at the time of execution of individual deeds of conveyance in favour of the allottees.
Mr. Swadesh Kumar Routray, Vice President, CREDAI National and President, CREDAI Odisha State Federation, along with Mr. Anil Kumar Agarwal, Secretaryand Mr. Sheikh Mairajul Haque, President, Mr. Kalinga Keshari Rath, Secretary, CREDAI Bhubaneswar and other Office Bearers of CREDAI Odisha State Federation and its City Chapters, have expressed their sincere gratitude to the Hon’ble Minister, Housing & Urban Development Department, the Hon’ble Minister, Law Department and the Hon’ble Minister, Revenue & Disaster Management Department, Government of Odisha and Sri Babu Singh, Hon’ble MLA, Ekamra, Bhubaneswar, for their proactive and responsive approach in resolving a long-standing issue faced by homebuyers and housing societies across the state.
Welcoming the decision, Mr. Routray, President, CREDAI Odisha, said, “This is a progressive and homeowner-friendly reform that removes a major financial and procedural hurdle in apartment registration. We sincerely thank the Government of Odisha, particularly the Housing & Urban Development, Law and Revenue departments, for their sensitivity to the concerns of apartment owners and for creating a more transparent, practical, and efficient framework. This step will significantly strengthen the apartment ownership ecosystem and boost confidence among homebuyers.”
CREDAI Odisha noted that the amendment will not only ease the formation and registration of Associations of Allottees but will also promote smoother handover of common areas, enhance legal clarity, and support orderly growth of the housing sector in the state.
