Occupancy Certificates (OC) and Completion Certificates (CC) are essential records in real estate and construction industries. They verify a structure's compliance with authorised designs, construction laws, and safety requirements. Granting these certificates ensures tenant safety compliance with regulations and simplifies real estate transactions. The local government or building control department issues the OC or CC, which is then inspected for structural stability, fire safety, ventilation, sanitary amenities, and zoning compliance.
The following are the reasons why an occupancy certificate is important:
Compliance and legality
The certificate confirms the building's legal standing and guarantees it was built following the authorised plans and rules. It verifies that the facility complied with all safety requirements, building laws, and environmental restrictions. Additionally, the certificate attests that all necessary licences and inspections have been successfully finished.
Habitability and security
According to the occupancy certificate, the structure is safe for occupation and has a minimal degree of habitability. It verifies that there are sufficient provisions for utilities like water supply, power, and sanitisation on the land. Additionally, it guarantees the building's structural soundness, reducing the hazards brought on by shoddy building practices or lax safety regulations.
Insurance and Financing
Many insurance firms and financial institutions want an occupancy certificate before granting insurance policies or making loans for the property. The certificate decreases the risk of insuring or financing a non-compliant or hazardous structure by demonstrating that the property complies with the requirements.
Property Transactions
An occupancy certificate is crucial for property transactions, confirming compliance and legality. Prospective buyers or tenants often request the certificate to ensure the property meets the requirements and can be occupied without legal issues or safety concerns.
What is a Completion Certificate?
The Completion Certificate is a crucial document in the building process, issued by the local municipal authority or building control department, confirming the completion of structural components, amenities, and prerequisites following authorised designs and specifications.
The following are some reasons why the completion certificate is significant:
Legal Compliance
The certificate attests to the construction's compliance with all relevant building codes, ordinances, and regulations and was carried out following the approved designs. It confirms that all essential requirements, such as setbacks, FSI (Floor Space Index), parking allowances, and other pertinent factors, were adhered to throughout construction.
Transfer of Ownership
When selling or transferring property ownership, the Completion Certificate is frequently needed. It reassures the purchaser that the construction has been finished and is up to code. The certificate allows a seamless transfer of ownership and aids in estimating the property's worth.
