Bhubaneswar Development Body Ready to Set New Property Rules

Bhubaneswar Development Body Ready to Set New Property Rules

Bhubaneswar Development Authority (BDA) has come up with a draft rule named BDA Property (Management and Allotment) Regulation. BDA is also ready to welcome the recommendations and even disagreements on this draft.

Bhubaneswar Development Authority (BDA) is responsible for beautifying and developing the city, and it comes under the Jurisdiction of the Government of India. BDA has now decided to launch brand new property rules and aims to ease the procedures of allotments and manage the properties (apartments, commercial projects, housing units, and more).

BDA has established a draft rule—BDA Property (Management and Allotment) Regulation, 2023. So, based on the suggestions and disagreements on the draft, BDA will finally launch these rules after it’s published in Odisha Gazette.

As per the draft rule, the allotment for any housing project will be made through auction or lottery. Furthermore, any individual possessing a property or a plot of land will not be eligible for allotment in BDA’s property.

To take part in the allotment, it is essential to register online with Bhubaneswar Development Authority (BDA). After the registration, the buyer will get a universal account number and have to deposit approximately 10% of the price rate of that specific property!

If an individual fails to pay the rest of the amount on time, he/she will have to pay the pending amount to BDA at 12% yearly interest.

A Patia resident, Ratikant Jena, said, “This is highly obnoxious on the part of the development authority. If we participated in the allotment and paid 10% of the property price and got no result, it would be a waste of our money and time. The BDA should pay an interest on it when it asks for the same.”

Piyush Patra recently took part in the allotment procedure and he said,” I took part in the e-auction and paid the money, but later I got to know that BDA has cancelled the scheme. I am yet to get my money back”.