The Odisha Real Estate Regulatory Authority (ORERA) on February 19, 2024, issued the notification regarding the submission of an Annual Audit Certificate by promoters developing projects from their own resources.
The following has been stated namely: -
• Clarification has been provided that a promoter developing a project from its own resources shall not be required to furnish an Annual Audit Certificate for the project till the time no booking amount is received from the customers.
• Once the promoter receives the booking amount from the customers, filing of AAC shall be mandatory from such period as per provisions of law.
[Notification No. 1258/ORERA]
