So buyers pay 100% for possession that is ‘temporary’. There is always the chance that the project could get rejected by the authority as being deficient in its amenities and service spaces. And the developer’s application for an Occupation Certificate gets dismissed. Your wait for your home gets even longer. And you have little bargaining power, because you just paid your developer the last 5% of your payment plan.
Developers in Noida region are offering ‘Fit-out’ letters to their customers, stating that they have applied for Completion/Occupation Certificate from the Noida Authority.
This is nothing but an exploitation of the emergency situation of the buyers who have been to wait very long to take possession of the flat/property. When in reality, their developer is just buying time. Also the developer gets to evade paying penalty as soon as you accept a ‘fit-out’ offer. In the eyes of any court, you willingly accepted possession, even if temporary and so that clock stops ticking on the developer.
It is your choice to accept the offer of possession for fit out period.
You are putting yourself at serious risk by choosing to enter a tower which in the eyes of the authority is not worthy of being granted an OC.
Apart from lift-breakdowns, buyers also report incidents of theft and eve-teasing as projects without OC usually lack adequate security. On one visit by the media team exploring the situation faced by the home buyers to a project in Noida that has offered fit-out possession, it was observed that the inner complex was not at all safe for people to enter. Construction material yet to be cleared and scaffolding was yet to come off. Electricity shafts were open and fire equipment was missing in the service areas. And in the flats, there were missing walls, exposed fittings in the ceilings and cracked floors. So if something is to go wrong, during this fit-out phase, the buck stops at you and not the developer.
Now you can decide about proceeding further or not.