- Occupancy Certificate evidences the completion of the building as per the approved plan and compliance of local laws.
- If the builder is unable to obtain the occupancy certificate, it means that the builder has violated building law or deviated from Construction Plan, and further it is illegal to occupy in a building or apartment that doesn’t have an occupancy certificate.
- Further, It is illegal to occupy in a building or apartment that doesn’t have an occupancy certificate. Buildings without OCs are not given a water connection and are charged a higher property tax.
- Further, you should not pay the full amount before handing over the OC to you.
- Further, as per RERA,, A builder cannot give possession to buyers without OC
- Further, as per the RERA Act, if the builder is delaying in construction & delay in possession, then the builder will have to pay 10% interest on the value of the property for delayed possession of flats.
- Hence, if builder fails to delivers the possession of the flat to you on time, then you can cancel the agreement due to his fault and you are liable to get full refund of paid amount with 10 percent interest.
- Further, if you get the possession of the said flat lately, then also you can claim 10% compensation from the builder.
- However, you should send a notice to the builder