Know the Occupancy Certificate’s importance
When we buy a home, one of our most important dreams comes true. We all wish that our home buying process should be hassle-free, transparent, and safe. If the right procedure is not followed at the right time, you might have to face a huge problem later. And that wouldn’t be a pleasant experience. So let’s see how to buy a home that is valid in terms of all legalities.
Today we are going to look at the significance of an OC received home. Let’s first explain to you what OC means. OC or Occupancy Certificate refers to a document that certifies that a building adheres to the national building codes and is suitable for occupancy.An OC certifies that the construction of the building can legally claim to have 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.
Owning a home involves a lot of things. It’s the final decision taken after years of saving, research, scouting, and paperwork. One is always eager to move into a new home. But only after patiently waiting for the project to be completed to see the light of the day, do you register your property and get the key to your home.
But what if later, your dream home is deemed unauthorized and you are legally asked to leave it? Can you imagine how shocking that will be for you? This is not impossible in today’s day and age and a small yet significant glitch can make it happen. Non-possession of an Occupancy Certificate can easily turn your biggest happiness into a nightmare. And then your home is declared unauthorized; and you are evicted by the authorities.
A lot of apartments even in some major cities in India have been occupied by owners without having an OC. This mistake and negligence can cost you dearly, putting the legal status of your much loved home in danger. The significance of the occupancy certificate cannot be overstated as it authorizes the legal status of your property and safeguards your ownership rights.
It’s highly unsafe to not have an OC as in case of its absence, the local municipal authorities can take serious action against the resident of the apartment. In several instances, at the time of possession, buyers overlooked the issuance of an OC from the builder. It was only later that this negligence came down on them like a ton of bricks and they were forced to evacuate their flat.
If the buyer does not own an OC, it can lead to severe repercussions as if you are being badly punished for overlooking an important step in the home buying process. So be careful about it or it can cause you the following damages:
- Without a valid OC, your building can be declared unauthorized and can be demolished
- The OC is very crucial while you seek and apply for a home loan or loan to purchase a resale flat. If you wish to sell or hypothecate(mortgage) the property after some time has passed, you will not be able to do so without a valid OC.
- In the absence of the OC, basic facilities like water connection, sanitation connection, and electricity supply can be cut off. We being an experienced and reputed builder are always concerned for your wellbeing. So be very vigilant while buying your dream home and do not overlook any detail.
Our prestigious projects in Mumbai that offer an OC are:
- Stella Residency - A Wing (Vikhroli)
- Valeria (Mulund East)
Come and choose a home at one of our above creations.
We wish that you enjoy living in your home, so be careful.
Happy home buying!