An occupancy certificate is what the building’s full form of the OC stands for. It is an important document that attests to the fact that a building has been developed in accordance with approved plans and all applicable safety standards and laws. After the construction is finished, the local municipal authority issues the certificate, which certifies that the building is ready for use.
In the real estate sector, obtaining the OC certificate is a crucial step. Before the building is prepared for the buyers to take possession of, the developer is legally required to obtain an OC. The certificate guarantees that the building is safe for habitation and that it was built in accordance with the rules established by the authorities.
What is the importance of an occupancy certificate?
The issuance of the OC is a crucial step in the real estate industry and has become more so than ever before under the Real Estate (Regulation and Development) Act (RERA), 2016. RERA has required that developers obtain the occupancy certificate prior to the building’s occupants being buyers. Buyers will be able to check the status of the OC and other project details on the RERA website, where the OC status will be updated.
The RERA authority may impose fines and pursue legal action if the developer neglects to obtain the OC or if the building does not adhere to the regulations. If the purchasers experience any problems with the property’s possession or the OC certificate’s issuance, they may also file complaints with the RERA authority.
An OC’s issuance is significant for a number of reasons. It is significant for developers, buyers, and the authorities for the following reasons:
Legal Requirement
Before the buyers can occupy the building, the developer must comply with a legal requirement and issue an occupancy certificate. The certificate serves as evidence that the building was built in accordance with the laws and guidelines established by the relevant authorities. If the developer doesn’t get the OC, they may be subject to legal repercussions.
Safety
The on-site OC guarantees that the building was built in accordance with safety standards and guidelines. Only after the authorities have inspected the building and determined that it is secure for habitation is the certificate issued. The OC also attests to the fact that the building was built with all required fire safety precautions.
Financing
Before approving a home loan, banks and other financial institutions require an OC in the property. The certificate attests to the building’s safety and compliance with the law. This lowers the default risk and guarantees the security of the bank’s investment.
Resale Value
The value of a property increases when it has an occupancy certificate. Due to the OC’s assurance that the building is safe and complies with the law, buyers tend to favor properties with one. The inability of a property without an OC to attract buyers may lower its resale value.
Transparency
Transparency in the construction process is ensured by the issuance of an OC. It guarantees that the developer has adhered to the authorized blueprints and hasn’t altered the building’s architecture or structure without permission. The buyer will now have more faith in the developer and the property as a result.
How Can an Occupancy Certificate Be Obtained?
The following steps are involved in obtaining an occupancy certificate:
Application
The local municipal authority is where the developer must submit an application for the OC. All required paperwork, including the building plans, completion certificate, and fire safety certificate, should be included with the application.
Inspection
The building will be inspected by the authorities to make sure that the approved plans and safety requirements were followed during construction. A review of the fire safety precautions may also be part of the inspection.
Compliance
The occupancy certificate will be issued by the authorities if the building is determined to be in compliance with the regulations. However, before the certificate is granted, the developer must make any necessary corrections to any deviations from the approved plans or safety requirements.
Fees
An expense will be incurred by the developer in order to issue the OC. Depending on the building’s size and type, the cost may change.
Can a developer obtain part OC?
For a project, a developer can get a partial occupancy certificate (Part OC). A part of a building or project that is designated as ready for occupancy is designated with a Part OC, which is issued for that specific portion.
Even though the project is not yet finished, developers may apply for a Part OC for a specific portion of the building that is finished and ready for occupancy. For instance, a developer may request a Part OC for a particular floor in a high-rise structure or a completed tower in a multi-tower project.
Getting a Part OC is done in a similar way as getting a regular occupancy certificate. The developer must submit an application to the municipal government in the area along with all required documentation for the finished portion. After reviewing the finished section to make sure it satisfies all requirements, the authorities will issue a Part OC.It is crucial to remember that a Part OC only permits occupancy within the building’s designated area. The building’s developer is not permitted to let tenants move into any other area that lacks a regular or part occupancy certificate. Furthermore, In order to make sure the building is safe for occupancy, buyers should also confirm whether the developer has obtained a Part OC or a regular OC before taking possession of the property.
An occupancy certificate is a crucial document that attests to the fact that a building was built in accordance with the rules established by the relevant authorities. Before the building can be occupied by the buyers, the developer is legally required to obtain the certificate, which guarantees the safety of the building and its occupants. Getting an OC raises the property’s resale value and guarantees transparency throughout the building process. Therefore, before taking possession of the building, it is crucial for developers and buyers to make sure it has an occupancy certificate.
Frequently Asked Questions
1. How can I access the online Occupancy Certificate check?
Take into consideration the following actions to verify the Occupancy Certificate online:
Go to the website of the Mumbai Municipal Corporation.
Once you reach the homepage of the website, select “Citizen Service.” • Provide the relevant information to fill in the blanks.
following the completion of all required property data in the columns.
There will be a PDF download option visible for you to select.
At last, the occupancy certificate becomes apparent.
Please take note that you can verify occupancy certificates on the websites of each state.
2. What does an Occupancy Certificate mean, second?
A crucial document that certifies the building was constructed in accordance with local regulations and approved designs is the occupancy certificate.
3. Is purchasing a flat without an OC safe?
No, it isn’t because the building can be demolished at any time in the absence of the OC.
4. Can I apply for a mortgage without an OC?
One of the mandatory documents that a bank or housing finance company needs in order to grant a home loan is an occupancy certificate. Consequently, without it, you won’t be able to obtain a home loan.
5. How do OC and CC differ from one another?
Each unit receives an Occupancy Certificate (OC), which attests to its readiness for habitation and confirms that it complies with safety regulations and approved plans.
On the other hand, the project as a whole receives a Completion Certificate (CC), guaranteeing that all infrastructure, amenities, and common areas have been constructed in accordance with approved plans. For those purchasing real estate, both certificates are necessary and guarantee regulatory compliance.
6. Records Needed to Receive an OC Certificate
The following is a list of documents needed in India to obtain an OC certificate:
A duplicate of the approved building blueprint
No Objection Certificates (NOCs) obtained from the appropriate authorities in copy form
Construction certificate issuance
Property tax slips
7. How long does it take to receive an OC?
Developers should ideally apply for a Building Occupancy Certificate within 30 days of finishing their project. Property owners can apply for an Occupancy Certificate from local authorities, and if the requirements are fulfilled and the required paperwork is submitted, the certificate can be obtained in 30 days.
