The Occupancy Certificate is issued by the local planning authority with a view to certifying that the premise is fit to be occupied. The OC is meant to be issued only after verification of the adherence to Building Regulations, Safety Regulations, provision for utilities etc. Technically, the OC should be obtained after the Completion Certificate is issued by the Planning Authority.
The OC is a mandatory document that should be in place prior to taking possession of your home. The law specifies that no person should occupy or allow another person to occupy a building or part thereof without obtaining an OC.
The new regulatory act, RERA, gave ongoing projects that had not received an OC a 3-month timeline to make the necessary arrangements and thereby reduce the risk to consumers who had made purchases in their developments. Under the new regime, builders are required to register with RERA prior to beginning the sale process.
The OC or CC under the Act becomes a key aspect of the purchase process and ensures compliance on the part of the developer.
It has been stated that a number of older developments of more than 25 to 30 years across the City of Mumbai that are fully occupied, do not have an OC. The estimate was about 56,000 in the City alone. It has been anticipated that the local government and the municipal authority are in the process of trying to find a solution to these older buildings where an OC has not been received.
About REMI
The Real Estate Management Institute- REMI is a leading educational institute in India that provides programs specially designed for the real estate industry. REMI was established with a vision to ‘Skill India to Build India’ to contribute to industry development through training programs and to facilitate individual careers, as well as enhance leadership for existing real estate professionals.
REMI currently provides certification programs, executive courses and customized training workshops specially designed for the real estate industry. Our programs are run using the Socratic style of teaching, as we offer world-class best practices and a global curriculum to enable new entrants, early-stage professionals, entrepreneurs and leaders adapt to the evolving regulatory regime.
REMI is a pioneer in the field of real estate education in India having trained 2400+ People since our inception. REMI has over 320+ Corporate Association, 180+ Affiliated Visiting Experts and offers 100% Internship and Placement through a dedicated Career Development Centre (CDC). We are constantly exploring new dimensions and partnerships to help us stay ahead. Some of our partnerships include collaboration with The Institute of Real Estate Management (IREM), USA, Ganpat University in Ahmedabad, Practicing Engineers, Architects and Town Planners Association (PEATA), Habitat for Humanity, among others.
Our flagship Certifications in Business Management and Housing Finance (BMF 201), the Broker Certification Program (BCP 201),the Owner Developer Program (ODP) are just the tip of the iceberg. Our ability to curate industry-relevant programs with experts and thought leaders is our specialty. We currently offer 30+ programs for real estate.
2 Comments