Q: Hi, am planning to buy a flat near Whitefield. Builder is saying that he cannot provide occupancy certificate (oc). Other than getting loan during resale, Will there be any serious problem? Can Khata transfer be done properly? Thanks.
Risk is definitely there. BBMP can take action against the flat owners and demolish the building. There is also a chance that the water connection and electricity could be cut if the owner does not have the OC. The law says no person can move into a building without the OC.
How do we know that the builder is going to provide us OC if I am buying an under construction property, because OC is given once the construction gets over?
If you are planning to buy an under construction property, make sure that you check the Commencement Certificate (CC) before signing any agreement. Because builders are there who starts the construction before get this document as they are confident enough that they will get the documents. Some times banking authority ask for CC when you are applying for home loan.
According to sources, 4,234 apartments and 28,970 residences were accorded plan sanction by the BBMP since 2010, but only 440 of these constructions have got occupancy certificate.
Hi Kiruba, Is it possible for you call me @ 9845988440 I am also looking to buy a flat . Need some details. Hope you may have some points to taken care while searching flat.
Hope everyone knows about the Worli ( Campa Cola Society) demolishen. Flat owners have been asked to leave just because they did not have the occupancy certificate
This certificate is mandatory for any builder before he allows people to take possession of the property. This certificate was made compulsory by the BBMP to ensure proper construction in the city.The occupancy certificate is obtained at the end of the construction. Once the builder applies for the certificate an inspection is done to check if the construction has happened according to the sanctioned plan.
Occupancy Certificate is mandatory. If you are staying in a flat of which the builder has not yet got the Occupancy certificate it may lead to future problem. After the building is completed you are required to file an application for Occupation certificate. The prescribed authority will inspect the building and after ascertaining that the building is as per the sanctioned plan, will issue a certificate. This certificate is called the Occupancy Certificate.
An OC or Certificate of Occupancy is required before any new building can be occupied. It evidences the completion of the building as per the approved plan and compliance of local laws.