I own a flat in Apurva Elite. Builder said not to worry about as 95% of flats in bangalore don't have OC. BBMP is asking huge money for it and so they went to court for this issue. There is a hope to regularize this for all apartments in bangalore. So it would be taken care. Not sure if it is right.
The Karnataka Chief Minister said that the government plans to take stringent action against those errant builders flouting building bye-laws by not providing home buyers with an Occupancy Certificate. Thousands of home owners are facing a similar plight of not being provided with an OC.
In the absence of the Occupancy Certificate an apartment owner is often deprived of basic amenities like-water and electricity. Having an OC is a must to apply for home loans, while buying a resale flat. The essence of OC can also be summoned to the fact that for new under-construction flats, banks provide loans only when the Occupancy Certificate is submitted.
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Hey, Even I have enquired about the project. The price of the apartment starts from Rs 48 lakhs excluding registrations. It has got approval from BBMP and all the leading banks. A Khata is there for land.
Hi Adil, I heard that the builder is not going to provide Occupancy Certificate and Completion Certificate for this project. Do you have any idea about this?
Yeah the same thing was told to me as well so I am bit confused whether I should go for this project or not. As without OC it can be risky buying property.