The Significance Of Occupancy Certificate For Home Buyers

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certificate for home buyers
The Significance Of Occupancy Certificate For
Home Buyers
Apr 2018
The Significance Of Occupancy Certificate For
Home Buyers
INDIA
Are you exciting about shifting into your own
house? Then, wait until taking the possession
from the builder as there is an integral thing to
look for apart from home keys. The possession
letter, of course, is running higher on the mind
presently. But, are you actually forgetting about
the occupancy certificate in all the excitement
of moving into your own house? If that's true,
then e a bit cautious as the availability of
occupancy certificate is expected to land you in
trouble.
Here is a list of things that each prospect must
know about the occupancy certificate-What exactly
is occupancy certificate? This certificate
certifies that the construction of any building
has taken place as per the norms while sticking
to the plan of construction. It also gives the
property a legal status which lets you avail the
amenities that actually fall under the
jurisdiction of the municipal or the civic body
of the area. The local authority certainly
allocates the certificate as well as allows the
owner to receive the possession as the
construction of property is said to be complete
as per the law. Also, according to the market
experts, occupancy certificate is certainly the
assurance of the property that enabled with all
important equipment and provides secure living
atmosphere. Difference between occupancy
certificate and completion certificate A
completion certificate is nothing but the note
that certain states that construction of the
property has taken the place lawfully. This
basically includes that developer has maintained
proper floor per area ratio, maintained distance
from the nearby building, using premium quality
constructional material and other technical
details. But, occupancy certificate is only
sanctioned after construction or the development
is complete. This provides legal face to property
and secures it from the ranking under the illegal
construction record of local authorities. Resident
ial property without an occupancy certificate
Occupancy certificate is important for
application of the home loan of a second home.
This basically means that one can't resale
property without providing proper occupancy
certificate. A home without occupancy
certificate can actually demolish by local
authorities at any provides a point of time.
The civic body has correct to disconnect
electricity, sewage, water and other amenities in
the case you fail to showcase occupancy
certificate of the property. Documents necessary
to obtain an occupancy certificate
Building commencement certificate
2
Copy of sanction plan Property tax
receipts Copy of completion certificate
NOC from the pollution Board. NOC from Airport
Authority will work For homeowners of ready to
move in property Individual owners approach
local authority via flat owners association for
availing occupancy certificate RWA can file
requisition of occupancy completion to local
authority Homeowners can file the complaints
against builder in the consumer court not
granting occupancy certificate For home buyers
under construction property Lodge complaints
against the developer in RERA Authority if he
actually fails to offer you the occupancy
certificate Ask for occupancy letter with
possession letter Full payment and occupancy
certificate Certainly, you need to have to pay
rest of the amount as mentioned in the payment
plans. Thus, ensure you do ask for the occupancy
certificate prior to making full payment. The
payment also make varies from person to person as
each and everything depending on the sales deed
of property. Although, RERA Act protects rights
of home buyers in accordance with completion of
the formalities of home buying.
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