Have you ever encountered real estate ads boasting about a developer receiving an OC for their project? You might wonder what this acronym stands for and what it means for you as a potential buyer. An Occupancy Certificate (OC) is a legal document issued by a city’s local municipal authority or development authority in India that certifies that a building has been constructed as per approved plans and is safe and fit for occupation. It is an important document that certifies the legal status of a property, and it complies with various safety, health, and environmental norms. If you are a prospective homeowner, here are five essential things you need to know about the occupancy certificate in Indian real estate.
Why is the Occupancy Certificate essential?
The primary purpose of the occupancy certificate is to ensure that a building is safe and fit for occupation. The certificate is issued only after the completion of construction and the inspection of the building by the relevant authorities and is issued only when the building meets all the local authorities’ safety, health, and environmental norms. The certificate is also necessary for the utility connections, such as electricity, water, and gas, to be provided to the building.
The Occupancy Certificate is a vital document in Indian real estate. A building cannot be legally occupied or rented out without this certificate. This certificate is essential for buyers and tenants as it ensures the building is safe and compliant with all necessary regulations. It also assures the lender that the property is legally constructed and is safe to lend against. Additionally, an occupancy certificate is mandatory for obtaining a permanent water connection and electricity connection.
So, what is the process for obtaining an Occupancy Certificate? To obtain an Occupancy Certificate in India, the following steps need to be followed:
Completion of Construction: The construction of the building must be completed as per the approved plans and specifications.
Application for OC: The owner or developer of the building must apply for an occupancy certificate with the city’s local municipal authority or development authority.
Inspection by Authorities: The local authorities will inspect the building to ensure it meets all the safety, health, and environmental norms.
Issuance of OC: If the building meets all the necessary norms and regulations, the relevant authorities will issue the occupancy certificate.
What is the validity of the Occupancy Certificate?
The Occupancy Certificate is valid for a specific period, usually for one year from the issue date. If the building is occupied within this period, the certificate will remain valid, and a new application must be made to obtain a new certificate. A new occupancy certificate must be obtained if the building undergoes structural changes or modifications.
Why do you need to check for an Occupancy Certificate? When buying or renting a property, checking whether the occupancy certificate has been obtained is essential. This can be done by asking the owner or developer for a copy of the certificate. The city’s local municipal or development authority can also verify the certificate. If the property has no occupancy certificate, it may be illegal and unsuitable for occupation. In such cases, avoiding such properties and looking for alternatives is best.
Now that we have discussed why this is important, it’s only suitable that we mention that one of the most intricately planned and luxurious gated communities at Bandra-Kurla Complex- Rustomjee Seasons has officially received OC status for its last tower.
Why should you be interested? Well, the Swimming pool, a Fully-equipped gymnasium, a beautiful Jogging track, your zen yoga and meditation room, and an indoor clubhouse will get your attention! Your new property in Bandra comes in 3 BHK, 4 BHK, and 5 BHK configurations. Along with this comes the ease of connectivity! Located right near the busiest office district of Mumbai, BKC, getting to and fro your office in a matter of minutes will be your new reality! The property is located within a short distance of several major transportation hubs, including the Bandra and Khar railway stations, the Western Express Highway, and the Chhatrapati Shivaji International Airport. This makes it easy for Seasons residents to get around the city, or the world for that matter, conveniently.