What Is Occupancy Certificate & Completion Certificate in Property?Why Banks Ask for It?
What Is Occupancy Certificate & Completion Certificate in Property?Why Banks Ask for It?
Buying Property? Know This
Buying Property? Know This
OC and CC are two legal documents every Indian property buyer must verify before possession.
OC and CC are two legal documents every Indian property buyer must verify before possession.
What Is a CC?
What Is a CC?
Completion Certificate confirms your building was constructed exactly per the sanctioned municipal plans.
Completion Certificate confirms your building was constructed exactly per the sanctioned municipal plans.
What Is an OC?
What Is an OC?
A Certificate of Occupancy, legally declares a building safe, functional, and ready for residents.
A Certificate of Occupancy, legally declares a building safe, functional, and ready for residents.
CC Comes Before OC
CC Comes Before OC
Builders must obtain a Completion Certificate first before applying for an Occupancy Certificate.
Builders must obtain a Completion Certificate first before applying for an Occupancy Certificate.
OC Covers Safety Essentials
OC Covers Safety Essentials
OC and CC are two legal documents every Indian property buyer must verify before possession.
OC and CC are two legal documents every Indian property buyer must verify before possession.
Why Banks Demand Both?
Why Banks Demand Both?
Banks only finance legally verified properties - CC and OC confirm the collateral loan is secure.
Banks only finance legally verified properties - CC and OC confirm the collateral loan is secure.
No OC, No Final
Disbursement
No OC, No Final Disbursement
Banks typically withhold the last 10 to 20 percent of your home loan until OC is submitted.
Banks typically withhold the last 10 to 20 percent of your home loan until OC is submitted.
Risks of Missing Documents
Risks of Missing Documents
Properties lacking OC or CC face demolition risk, utility denial, and serious resale difficulties.
Properties lacking OC or CC face demolition risk, utility denial, and serious resale difficulties.
RERA Protects Buyers
RERA Protects Buyers
Under the Real Estate Regulation and Development Act 2016, builders must share OC and CC with buyers.
Under the Real Estate Regulation and Development Act 2016, builders must share OC and CC with buyers.
Always Verify Before Possession
Always Verify Before Possession
Check OC and CC status on your state RERA portal before signing any possession-related documents.
Check OC and CC status on your state RERA portal before signing any possession-related documents.
Disclaimer: The information provided on this website is for general informational purposes only and should not be considered financial or legal advice. Please consult with a qualified financial advisor before making any decisions.