Should I buying a flat without occupancy certificate?

Without a valid OC, your occupancy is illegal as it can be classified as an unauthorised structure by the authorities. 2. OC is crucial while applying for a home loan or loan to purchase a resale flat. You cannot even sell your property without a valid OC in hand.

How important is occupancy certificate?

What is the importance of an occupancy certificate? The certificate is an indication that the building is suitable for occupancy. An OC is required, when applying for water, sanitation and electricity connections. For home owners, an OC is necessary to cement the legal status of the property they own.

Who is responsible for certificate of occupancy?

the property owner
The responsibility of obtaining a certificate of occupancy lies with the property owner and should be obtained at the time of taking ownership of the property. A certificate of occupancy is also necessary before water and electricity deposits can be accepted for a newly built property.

Is OC required for individual house?

It is required for commercial buildings and for residential buildings that have more than five units. OC is issued for an entire building, or a part thereof, and is not given to individual flats.

Can you sell a house without an occupation certificate NSW?

The property can be sold without an occupation certificate and it is not a required disclosure document.

Can I sell apartment without OC?

1. Yes, you can sell off the flat even in absence of OC as long as the buyer is willing to buy this . 2 Loses will have to be set off. 3 Property can be sold though the municipal taxes are in arrears.

Can you sell house without completion certificate?

A completion certificate is issued when any building work done in your property is inspected and approved by professional building control surveyors. Although you can sell your home without a completion certificate, you may not get as much for it. …

What does it mean buyer responsible for co?

If you’re selling your house as-is or if it’s a bank-owned house, the buyer is responsible for the costs of getting the certificate of occupancy—including the inspection and repairs.

What is OC flat?

An OC certifies that the construction of the building has complied with the approved plans. It is issued by local municipal authorities or the building proposal department once the building has been completed and is ready to be occupied.

What happens if OC is not received?

Offering the possession without OC is a breach of the law and punishable. Any building that has not received the OC from the authorities is considered under-construction projects. The authority is dedicated to act on the grievances of the homebuyers and provide a solution.

What is an occupancy certificate and why is it important?

The certificate is proof that the project has been built, by adhering to the applicable building codes, relevant regulations and laws. It is the responsibility of the developer to obtain an occupancy certificate, once the project has been completed. The certificate is an indication that the building is suitable for occupancy.

How do I get an occupancy certificate from a builder?

You can give a notice to the builder to apply for an occupancy certificate and handover the copies of the same to the owners within a month of the notice. In case he does not respond to the same, you can file a complaint in the consumer forum requesting it to issue orders for the builder to get a certificate.

Is occupancy certificate required for apartments in Bangalore?

In Bangalore, it is mandatory for every residential complex – which has more than five units, to obtain the Occupancy Certificate. “A flat owner can occupy an apartment only once the OC is issued, as per law.

How to get occupancy certificate from BBMP?

To obtain the certificate, a builder needs to fill an occupancy certificate application form along with a few other documents (mentioned in the ‘box’). After submitting the form, BBMP authorities will inspect the complex and confirm whether it has been completed according to the approved plan and then issue the certificate.