Buying a home? Occupancy Certificate is a must; here's why it matters for every homebuyer

After the completion of a building, the builder has to apply for an Occupancy certificate. It is issued by the local municipal authority after it verifies a completed building and certifies that it has been constructed as per the approved plan and is safe to live in. It confirms that the building has water supply, sanitation, and electricity connections in place.For a homebuyer, the OC is non-negotiable. Banks require it before disbursing a home loan in many cases, and without it, the buyer cannot legally register the property or apply for a permanent electricity or water connection.The builder must apply for and obtain an OC certificate before getting into any transaction. Also, the buyers are also advised to obtain the certificate from the builder before moving into the property, as the property is illegal without this certificate, and the authorities can take legal action against the owner. The owner may face severe consequences in case of any accidents or mishaps in the building.Acquiring a building occupancy certificate consists of multiple steps, and the required documents can differ depending on the property type and location. Nonetheless, there are several typical documents needed to secure an occupancy certificate, including the following:Before buying a property, you are required to ask for the building’s OC to save you investment and avoid any legal disputes. You can also check it online. Depending on state and local government rules, there may be differences in how to verify an occupancy certificate (OC) online in India. Here is a general rule to adhere to, though:Occupancy certificates are usually available for download straight from the website. To receive a copy of the occupancy certificate, you might need to physically visit the local municipal corporation office if the website does not offer this option.Obtaining an OC is essential for homebuyers to safeguard one of their largest assets; it's not only a legal requirement. It guarantees that the property is correctly registered, consistent with the law, and free from potential issues.