Bhubaneswar, May 15 -- In a major relief for apartment owners and housing associations, the Odisha Government has amended the Indian Stamp Act, 1899 through an ordinance to simplify the apartment registration process and remove financial hurdles linked to transfer of common areas and facilities.
The Indian Stamp (Odisha Amendment) Ordinance has been notified in the Odisha Gazette after receiving approval from the State Cabinet.
Under the existing provisions of the Odisha Apartment (Ownership and Management) Act, 2023, the entire common areas and facilities of an apartment project were required to be transferred in favour of the Association of Allottees at the time of execution of the first deed of conveyance.
For this, the association ha...