Important note to take into about Occupancy Certificate
Everyone’s dream comes true only when you add up value for your money in the form of savings. As an employee one can opt for loan and other financial arrangements for buying a property. If you are planning for loan, there will be no risk of believing a builder on his project as if your loan is got approved. But, when you are planning to buy your home with the money and all the time you spent to save it as an each water droplets, then you must know the documents to be look over for getting your property with a clean approval mode.
In India, as per the law the mode of real estate has become transparent and due to the transparency, everything is showcased on online from pinpoint view. But in particular as home buyer, you need to know what type of documents you have to check in particular before you are buying a home as of Indian real estate has lot more documentation and paper work to do.
So people who are the first timers have to ask for occupancy document from the builder before paying money only.
Recently somewhere in India, a Software employee called Pavan has made his total life’s saving in buying a home at some X Builders, unfortunately he didn’t prompted the builder to show the occupancy certificate, finally it was declared to be unauthorized property and have no registration. So, all his dreams came to end and added a lot for risky factors in his life, in a single sentence his life turned to be so miserable.
So let’s have some points in mind before you buy a home.
*Occupation Certificate is a mandatory one having some terms and conditions approved and issued by the nearby municipalities where the builder’s side is all set to go. So if OC is not issued, then it is unfit for habitation.
*For a while you have to know the difference between OC & CC, CC means Completion Certification that ensures you that the structural aspect of a building is good. If OC is a Soul, then CC is a Body and without a healthy soul
You can’t afford a healthy body.
*If you don’t have an occupation certification, the local bodies or authorities have full power to demolish your so called property without any consignment.
* Having OC means to provide basic amenities like Water, electricity & sanitary connections etc.
* It’s better to have a good resale value for a property having OC Approved than a new building without OC.
*Most of the builders refuse to give an OC for you, so you can send a notice asking them to apply & handover the Original OC, check once again whether he is giving you an original or Photostat, you need to have an original one so that your home resembles fit for living. You can also claim through consumer forum claiming your rights on the property.
Most of the times, payment plan is linked to possession. And customers are advised to pay the last instalments only when the builder receives an OC Certificate.
One more thing to take into account is, as per RERA Act all the builders must share their constructional status quarterly though the online RERA Website. And still many people are living in the complexes without obtaining OC, so it is advised to obtain OC from your builders otherwise; you will face many risks at any moment.
So, Home Buyers need to check all the documents before going through buying process.
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