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Homebuyers do not need to pay extra to builders beyond the actual house price. The real estate agencies cannot collect Goods and Service Tax (GST) cess and other taxes. However, if the tax regimes change in future, additional taxes will be paid by the homebuyer/owner.
Such norms have been included in the Odisha Real Estate (Regulation and Development) Amendment Rules 2022 as notified by the Odisha government on Monday.
The rules state that the total price above includes taxes (consisting of tax paid or payable by the promoter by way of Goods and Services Tax, cess and such other taxes which may be levied, in connection with the construction of the project payable by the promoter) up to the date of handing over the possession of the [apartment/plot] to the allottee and the project to the association of allottees or the competent authorities, as the case may be, after obtaining the occupancy certificate.
In case there is any change or modification in the taxes, the subsequent amount payable by the allottee to the promoter shall be increased or reduced based on such change or modification.
“If there is any increase in the taxes after the expiry of the scheduled date of completion of the project as per registration with the authority, which shall include the extension of registration, if any, granted to the said project by the Authority, as per the provisions of the Act, the same shall not be charged from the allottee,” the notification read.
Other highlights:
The allottee shall also have undivided interest in the common areas. Where the interest of allottee in the common areas is undivided and cannot be divided or separated, the allottee shall use the common areas along with other occupants, maintenance staff etc., without causing any inconvenience or hindrance to them.
The promoter shall hand over the common areas to the association of allottees after duly obtaining the occupancy certificate from the competent authority as provided in the Act. The allottee has the right to visit the project site to assess the extent of development of the project and his apartment/plot, as the case may be.
