While looking at the real-estate section for flats for sale in Bangalore electronic city, you must have come across the term OC Obtained Projects in Electronic City. So, what are these OC Obtained Projects and what is their significance? An OC obtained project is a property that has been awarded an occupancy certificate by the local authorities. The occupancy certificate is issued after the completion of the building and is an indicator that the property has been built as per the government norms and local laws and that it is ready to be occupied. This certificate is what secures the legal status of your property and safeguards your ownership rights. It might be startling to know but a vast majority of the residential apartments in Bangalore have been occupied by the residents without an occupancy certificate due to which they are facing several legal hurdles.
Complications of buying without an OC
Without an OC, the local authorities can initiate action against you and you may have to face the following repercussions. Your building can be demolished and classified as an unauthorized structure. You will not be able to procure a home loan or resell your flat in Electronic City Bangalore without authentic OC.Your water, sanitary and electric supply can be cut off without any mercy in the absence of an OC.
How to procure an OC
You can obtain an OC from your local bodies by submitting an OC application form along with the following documents.
NOC for Fire and Pollution
Built and Section Plan
Photographs of the Completed Building
Area calculation Sheet of the floor signed by an authorized architect
Copy of the Sanctioned Plan
Tax Assessment with Tax Paid Receipt
Photographs of Rainwater harvesting and Solar Panels
Legally, the builder should submit the OC application to the municipal commissioner within 30 days of the completion of the property. After the submission is completed, the authorities would come to inspect your residential apartments in Bangalore and confirm if all the norms have been adhered to in its construction.
How to apply
If needed, even you can apply for an OC as the flat owner. You have to first approach the local corporation or the municipality who will come and check if all the approvals are in place. Once they are satisfied, an OC is issued within 30 days of your application. These documents have to be submitted to the builder to procure the OC.
What are your rights?
In case, the builder refuses to issue an OC, you can go for legal aid. You can either issue a notice against the builder asking him to apply and handover the copy of OC to you or approach a consumer forum and file a writ petition demanding the OC.There have been instances when builders simply gave an OC receipt to dupe customers. Never accept anything less than the actual OC as the receipt may be dated.
Thanks to the Real Estate Regulatory Act, you can expect greater transparency and protection of your rights. Hence always guarantee that you are going for RERA Approved Projects in Bangalore to ensure that you protect yourself from these hurdles.