Thank you all for your valuable suggestions. projects construction is still going on. It will be completed only by next year end. However my builder is not going to apply for OC. They were saying if they apply for OC then per flat cost will increase by 10 to 15 lakh.
In case of new flats, the builder can enter into a registered agreement for sale with the buyer at the stage of construction. Even without OC said agreement can be registered. However, after completion of construction builder has to obtain OC. You won't be able to have your resale agreement reached in absence of OC
Hi, I have bought one flat in near to Hi-tech city Hyderabad. SBI has sanctioned loan against that property. Just few days before I came to know that builder is not going to give me the Occupancy Certificate (OC). However they will transfer Khata in my name. Builder is saying that as per this scheme, my flat will get OC after paying some betterment charge. Is it true ?
@ Vani, 1. OC takes time . if building has been constructed as per sanctioned plans builder will get OC. 2. If builder fails to obtain OC move to consumer forum against builder for deficiency in sevices. Consumer forum will direct builder to obtain OC within period of 4 months.
Usually, the builder provides the OC once the building is ready for occupying. A developer must send an application along with other documents such as building plan, commencement certificate, completion certificate and photographs of the completed building, for obtaining the OC to the local civic body within 30 days of completing the construction.
For high-rise buildings, the Occupancy Certificate should be released by the civic body after inspection and getting fire ‘No Objection Certificate from Fire Services department.
There is an exemption given to small builders in concern with claiming Occupancy certificates. Occupancy Certificate is not mandatory for small builders in Hyderabad
According to sources, the Occupancy certificates from now onwards will not be mandatory for the buildings which will be constructed on site measuring 100 square meters with height up to seven meters.