25 October, 2023
4 mins read
This seemingly mundane document holds substantial importance for homeowners. This article will explore the importance of OC in real estate.
To check the occupancy certificate online, one can follow these steps:
An OC signifies that a building has been constructed in compliance with building bylaws and regulations, assuring the safety and legality of the structure for occupants. It differentiates between a lawful property and an unlawful one. Without an OC, the erected structure may be subject to legal ramifications.
Failing to secure an OC can have severe consequences. Local authorities possess the power to take actions such as eviction of residents and even demolition of the property due to its illegal status. This not only disrupts the lives of occupants but also hampers the property's resale value and loan approval processes, affecting both buyers and sellers.
Additionally, the absence of an OC can lead to disruptions in essential utility services, with water and electrical supplies potentially being disconnected without prior warning. Obtaining necessary certificates like the Khata Certificate can also become challenging, complicating property ownership and transactions.
The distinction between an OC and a Completion Certificate (CC) lies in their core functions. A CC serves as confirmation that a building adheres to building bylaws and that its layout plan has received approval from relevant authorities. Conversely, an OC signifies that the construction complies with all building norms without violations, rendering the structure safe for occupancy. Upon issuing the completion certificate, the occupancy certificate (OC) is provided. Once the OC has been granted, the builder can only transfer ownership of a flat to the buyer.
An OC is not just a piece of paper. It represents the safety, legality, and compliance of a property. Property buyers and investors are strongly advised to prioritise the acquisition of an OC certificate before taking possession to avoid unnecessary legal disputes and potential financial setbacks in the future.
Knowing the OC and CC’s full form and their differences can help homebuyers make informed decisions. But all these verifications become a lot easier if someone buys from trusted real estate developers like Piramal Realty. Piramal Aranya by Piramal Realty, located in the heart of South Mumbai, is an excellent choice for people wishing to purchase a luxury home. Also, Avyan Tower in Piramal Aranya has received OC 21 months ahead of the Maha Rera timeline. It is the benchmark for people seeking genuine luxury and sophistication.
Disclaimer- This article is based on the information publicly available for general use as well as reference links mentioned herein. We do not claim any responsibility regarding the genuineness of the same. The information provided herein does not, and is not intended to, constitute legal advice; instead, it is for general informational purposes only. We expressly disclaim /disown any liability, which may arise due to any decision taken by any person/s basis the article hereof. Readers should obtain separate advice with respect to any particular information provided herein.
05 June, 2023