To invest in residential flats in Mumbai is a critical decision in everyone's life. It is an act of utilising your lifetime's savings for the hope of a brighter tomorrow. The process involves careful research that leads to the selection of flats for sale in Mumbai, resulting in extensive paperwork and legalities. After booking your dream abode, you patiently wait for the construction to complete and finally take possession of the flat.

You start visualising your life with the views and the amenities of the house you have chosen. All of this can just sustain as a sweet dream and fail to transform into reality without legitimate documentation. Most residential flats in Mumbai are sold without a valid OC. As a homebuyer, the negligence of not checking the OC availability has its own disadvantages. Below mentioned are all the angles you need to keep in mind about the OC and its verification.

Occupancy Certificate - An important home buying ingredient:

Developer's angle

The Occupancy Certificate is an important document, standing as proof that the building has been constructed by abiding all the local laws. After ensuring that the edifice has been built under permissible conditions and compliance of the local laws, the Municipal Corporation issues the certificate after the completion of the project. It is the foremost duty of real estate developers in Mumbai to obtain the occupancy certificate after completion. The certificate indicates that the development is suitable for the occupancy and welfare of the home buyers. An OC is an important document for developers while applying for water, electricity, and sanitation connections for residential flats in Mumbai.

Buyer's angle

This certificate is important for homeowners as it cements the validation and legal status of owning the property. If the property does not have an OC or does not possess a valid one, the local municipality is obligated to take legal decisions as a project without an OC is considered to be an illegal property. Major financial institutions have the mandate of providing the occupancy certificate while issuing loans to the home buyers. This adds more value to the deal and increases your chances of receiving the loan. The certificate is also required in the process of bidding flats for sale in Mumbai and should be submitted to the new owner of the house.

Decoding the enigma of how one can receive an OC:

Occupancy certification is an important step to keep in mind during the completion of the project. Real estate developers in Mumbai must apply for the OC within a 30 day period after completion. The development shall be completed and ready for the next step of inspection. The OC is received after submitting an application along with important documents.

Here are some important documents required for verification:

• Project commencement certificate
• Project completion certificate
• Photographs of the completed building and its structure
• NOCs issued for fire and pollution
• Property tax receipt and
• A copy of the building's sanctioned plan.

Subsequent to the submission of the form and documents, authorities of the Municipal Cooperation must inspect the complete complex to confirm if the project has been built in accordance with the approved plan. Real estate developers in Mumbai usually receive a copy of the OC within 30 days of the submission.

The plight of buying a flat without an OC:

During the period of possession, several buyers overlook the issuance of an OC from the builder's side. They ignore the intricacies involved in documentation, which is a crucial step in the home buying process. If a verified OC is not issued, the local municipality has the right to take action against the developer and flat owner.

Repercussions faced of not having a valid OC:

In the absence of a valid OC, the building can be demolished, as it comes under the classification of an unauthorised structure in the cityscape.

OC stands as a crucial document, both during the purchase of a flat as well as the sale of a flat.

In the absence of an OC, the water supply, sanitary connection, and electricity supply can be disconnected immediately.

How can you apply for an OC as a flat owner:

As an owner of your home, you can apply for an OC as well by requesting the local corporation or municipal department. If all approvals and documents are in place, an OC shall be issued to you in 30 days. Next, you have to submit the approved documents to your builder to put the OC in action.

Learn your rights, practice your rights:

Real estate builders in Mumbai need to provide you with the OC after the project has been completed; in case they refuse to do so, you can take legal action against the developer. A notice can be filed against the builder to issue the copy of the OC within the period of one month. You could also approach the consumer forum to file a petition to demand a valid OC. Some unauthorised builders present the buyers with just the OC receipt and fool their minds. You should not accept this half baked paperwork and demand for an actual copy of the OC.

The governing bodies have come up with legislation like the Real Estate Regulatory Act to administer the real estate sector and increase transparency in the process. This act was passed to significantly reduce the number of fraud real estate developers in Mumbai and safeguard the buyers.

As a consumer, you must be aware of your rights towards owning a property and ensure you abide by the laws, thereby receiving essential documents like the OC as it secures your investment rightfully.