What are C.C / Completion Certificate in Real Estate?
As per RERA Act 2016, “Completion Certificate” means that the Real Estate Project has been developed according to the Sanctioned plan, Layout plan, and specifications as approved by the Competent Authority under the Local Laws.
Once the builder submits all the documents and plans to the Authority the Authority studies those plans and gives the building permit which he had to complete within 3 to 5 years.
In case if the builder fails to complete the Construction within the specified time duration then he had to apply again for “Revalidation Certificate” which is valid for 1 year.
After the proper completion of the building, the Authority then ensures that whether the building is built according to the approved plans and all the Regulations had been followed then finally gives the Completion Certificate.
What Authority Basically Ensures before Granting the Completion Certificate (C.C) for Example:
- Ground Coverage
- Floor area Ration
- Setbacks
- Open spaces
- Height restrictions
- No of floors
- No. of units
- Whether parking standards are followed or not etc.
In simple terms if the building is constructed as per the building approval plan and also meets all the requirements that was submitted during the construction before the authority then Authority will issue the Completion Certificate.
In case if some Regulations are not followed by the builder and Substantial Completion is done then in that case the Authority can also Grant “Provisional Certificate” to builder, which is generally valid for 6 months.
The builder has to complete all the Construction during this period of 6 month and had to comply with all the Regulations, only then he gets the Final Completion Certificate.
What are O.C / Occupancy Certificate in Real Estate?
As per RERA Act 2016, “Occupancy Certificate” means the competent authority permitting occupation of any building, as provided under local laws, which has provision for civic infrastructure such as water, sanitation and electricity.
In simple terms if the building has compiled with all the required building standards and it’s safe for living, then the Authority will issue the Occupancy Certificate
The legal possession of the flat is possible only if there is Occupancy Certificate from Concerned Authority else it will consider as illegal and the authority may evict you from your flat anytime.
· Completion Certificate
· NOC for fire and Pollution
· Copy of building sanction plan
· Building Commencement Certificate
· Photographs of the completed building
· Photographs of rainwater harvesting and solar panels
· The latest property Tax receipt
Your property will be considered safe & Legal Once these Certificates are granted from the concerned Authority.
You will need both the Certificates (C.C. & O.C.) when you will apply for Electricity and Water Connection
You can claim Income Tax Benefits only when you have these both certificates (C.C. & O.C.)
You will get Property Insurance only when you have these both certificates (C.C. & O.C.)
You need these both certificates (C.C. & O.C.) When you want to sell your property
Note:
If you don’t have Completion Certificate (C.C) & Occupancy Certificate (O.C.), in that case your property will be considered as illegal and the authority can any time give you eviction notice.
