BHUBANESWAR: Real estate experts have expressed mixed views on the new BDA Property (Management and Allotment) Regulations, 2023 notified by the Bhubaneswar Development Authority (BDA) recently to streamline the allotment process of its properties, including housing and commercial units.
The experts while decoding the regulation said the eligibility for a property in the city specified by BDA is vague. The BDA said anyone already having a house allotted from any government agency in the city will no longer be eligible to get a house from the BDA.
“The regulation said anyone having a house or a land allotted from any government agency will not be eligible for another house or a plot, but for commercial unit, there is no bar in the regulation, which showcases the business mind-set of BDA,” real estate expert Bimalendu Pradhan said.
Pradhan said the regulation clarified on certain components like mode of allotment which is through rent, sale, lease and licence. For the process of allotment, the regulation maintained that it will be done either through lottery or auction, which is a much-needed clarification, he said.
For housing units, the BDA in the regulation said it will fix the price of the property considering various factors such as benchmark valuation, development and infrastructure charges. The BDA said the price fixed by it will be final and non-negotiable.
This part of the regulation indicates that the BDA is not in favour of providing houses to the middle or lower-income groups of people but to the higher-income groups only. “They should come up with houses which are affordable for the MIGs and LIGs,” social worker Alok Kar said.
The BDA added in the regulation that if a property is allotted to someone and that person made a delay in making final payment, that person can place a request with the allotment committee for late payment and pay the rest of the amount in six months with an interest of 12%.
However, the BDA can cancel the allotment process even after collecting earnest money from the allottees at any time without giving any specified reason. In this case, the earnest money will be returned to the allottees, but without any interest on the amount.
“The regulation came more for the facilitation of BDA than the people. Certain components of the regulation will safeguard the BDA from getting into any litigation matters. The allottees on the other hand have given no choice but to abide by whatever BDA says,” promoter Sangram Nayak said.
