Bhubaneswar, June 13, (OT Webdesk) – In a major policy shift to accelerate residential development, the Odisha government has reduced the conversion fee for leased land to freehold status from 10% to 3% of the Benchmark Value (BMV).
The move, effective immediately, was approved during a cabinet meeting chaired by the Chief Secretary.
The policy applies to land originally leased by the Odisha State Housing Board and urban development authorities like the Bhubaneswar Development Authority (BDA).
Homeowners who follow approved building plans can avail of the reduced fee.
Regularised deviations within permissible limits will also be considered for the 3% fee.
Applicants must submit a compliance certificate from municipal or urban development authorities, addressing concerns raised in a 2023 Land Use Policy study that found regulatory bottlenecks delaying 30% of urban land conversions in India.
Officials expect the new fee structure to ease financial burdens on homeowners, streamline bureaucratic processes, and drive urban growth across the state.
