Applying for a home loan and your lender asked for a Certificate of Occupancy? Are you searching for ‘what is OC certificate’? Your search ends here!
A certificate of occupancy is a document that proves that a building has been built according to the building plans and is fit for inhabitation. It also shows that the builder has complied with local laws.
The certificate is issued once a building is ready to be occupied within 30 days of submitting the application form for an OC certificate. The certificate can be requested by the builder or the homeowner.
However, it is the responsibility of the builder to get the certificate and the homeowner must remember to check it before purchasing the property.
Now that you know what is a certificate of occupancy, let’s look at what makes it such an important document -
It declares that the building is safe for residents
It is required while applying for LPG, telephone, water, or electricity connections
It needs to be furnished while applying for a home loan
It is required while re-selling your property
You might need it while moving to your new apartment in the building
Without the certificate of occupancy, the local body can legally deem a building illegal
A certificate of occupancy can be obtained by the real estate owner, builder, or the homeowner. The documents you need to get a certificate of occupancy are mentioned below -
Certificate of commencement of construction
Copy of the sanctioned plan
Certificate of completion
No Objection Certificate (NOC) for fire and pollution.
Latest tax paid receipt with the tax assessment.
Photographs of the completed project.
Pictures of solar panels and rainwater harvesting (as per local norms)
Area computation duly signed by a commissioned architect
OC certificate meaning and its importance must be clear to you by now. The next thing to know is how to apply and get the certificate of occupancy. Once the construction of the building has been completed, you can apply for it from the local authority, usually the municipal corporation.
You can follow these steps to apply and get an OC certificate -
STEP-1: Visit the local corporation or municipality office.
STEP-2: Obtain the form from the concerned officer and fill in all the details.
STEP-3: Attach copies of all the required documents as required.
STEP-4: Submit the form along with the documents.
STEP-5: You will receive the Certificate of Completion within 30 days from the date of application.
The certificate of occupancy is an important document if you are a new homeowner. You will need it while applying for loans, and also to apply for amenities such as water, gas, electricity, etc. If you ever plan to sell your property, you will again need the certificate of completion.
It is a document that proves that your building was built according to the local rules and bylaws. It will be your protection in case any dispute regarding the construction arises in the future. Thus, don’t forget to ask for the same from your builder or seller.
In case you are a new homeowner, and you want some extra funds to decorate your new house to make it your home, look no further. Instant personal loans from moneyview get sanctioned easily and you can get the funds within 24 hours. To know more, visit our website or download the moneyview app!
Yes, the occupation certificate is one of the important documents required while applying for a home loan.
No, a builder cannot offer possession without a Certificate of Occupancy. In India, it is illegal to reside in a property without the OC.
In India, it is mandatory to obtain an OC before buying or selling a property. Thus, it is not okay to buy a flat without an OC.
Yes, an OC is required for small apartments and flats as well.
For any building that has been constructed after 1976, an OC is required, even if it is an old building. Thus, even if you are buying a second-hand flat or apartment in an old building, you should ask to see the OC. you must also obtain a copy of the same.
The CC or the Completion Certificate is issued by the building authority, and it states that the construction has been completed according to the approved plans. On the other hand, the Certificate of Occupancy or the OC establishes that the building is fit for residential use. It is issued by the local municipality or the corporation.
Thank you. Your feedback is important to us.