Odisha Govt Clears Sale of Pre-2016 Apartments, Boosts Real Estate Market
Bhubaneswar, Dec 4: In a major relief for homeowners and a boost to the real estate sector, the Odisha government has announced that apartments built before 2016 can now be freely bought and sold.
Urban Development Minister Krushna Chandra Mahapatra confirmed that the state has amended provisions of the Real Estate (Regulation and Development) Act (RERA) to remove restrictions that had long created confusion for buyers and sellers of older properties.
Until now, transactions involving pre-2016 apartments faced uncertainty under RERA guidelines, leaving many homeowners unable to liquidate assets.
The new notification provides clarity, ensures transparency, and makes such deals legally valid.
District administrations and housing authorities will oversee the implementation of the revised rules.
Officials expect the move to encourage investment in housing, improve liquidity in the property market, and provide long-awaited relief to thousands of families across the state.
This policy shift is seen as a significant step toward revitalising Odisha’s real estate sector, opening up opportunities for both investors and residents.
