Occupation Certificate (OC) & Completion Certificate (CC)
OC is an abbreviation for Occupation Certificate.
Completion Certificate, or CC, is the acronym.
The acronyms OC and CC are written in their full form as shown above.
But first, let's look at these terms' definitions and how they affect buyers of real estate:
OC - Definition and Significance
1. The Occupancy Certificate (OC), which confirms that the building has been erected in accordance with the authority-approved blueprints and is currently suitable for occupancy, is a crucial legal document.
2. In accordance with their official approvals, the municipal authorities issue an OC when the building is complete.
3. OC is only given after a thorough inspection has persuaded the authorities that the structure is fit for habitation. A property buyer must ensure that the flat or office they wish to acquire has been awarded and is covered by such a "part occupation certificate" because such a certificate may be given for a part of the building.
Due to the relationship to municipal regulations,
property buyers technically cannot occupy the building until they obtain the occupancy certificate services like as water and electricity cannot be established until the certificate is issued.
CC Definition & Significance
1. When building construction is finished and conforms with several building standards, such as distance from the road, height, etc., a Completion Certificate (CC) is issued.
2. The occupation of a building cannot be authorised by the CC alone because the OC is necessary to access all crucial municipal services.
OC & CC – main points to Keep in Observance as a Property Buyer:
1. Avoid buying and/or occupying a flat or office without an OC, as authorities have the ability to evict occupants and cut off access to public services.
2. If you intend to sell, borrow money from, or mortgage the property in the future, OC is also necessary.
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