Q:Hi Friends,Maximum resident has occupied the flats since last 3 yrs but builder has not given OC or Possession Letter. The builder says he has applied for OC but due to environment department there is delay. What should be done in this case to protect flats by different owners. nor society is formed till because Registrar says they will not allow any society to be form which do not have OC
Latest Answer: And i hope Amarjeet, you will take it seriously and ask for the Occupancy Certificate from your builder. Having an OC work for another important purpose. This is a mandatory document which needed if you are applying for a home loan, while buying either a new flat or a flat on resale.
Latest Answer: Hi Gaurav!!!
But remember that purchasing land or residential property will now become costly in Madhya Pradesh as the stamp duty on registry of property documents which was now calculated on the basis of 0.125% of the property value is proposed to be raised to .5%. The Government wants to use the additional income that would be generated through this hike on creating jobs in the rural areas.