Hello there. I can tell you what does completion mean when selling a house. It is the last stage of selling a house. This is the point of exchange that the sale becomes legally binding. This is where the buyer becomes the legal owner of the house and the sale is complete. On the day of completion, the final transaction is also made. Let me tell you more about the completion below.
Completion Certificate on House Sale
A completion certificate is an important legal document attached to the selling of a house. I will talk in the context of a builder selling homes on a project. A completion certification legalises the property. It attests that the construction of the building follows all safety norms and regulations of the Building Act 2024. At the time a project is under construction, the builder needs to get an NOC from civic and municipal authorities.
This certificate is needed for all residential, commercial and industrial constructions.
The local authority awards the completion certificate after thoroughly evaluating and inspecting the building.
Here, necessary standards like compliance with the Floor Space Index (FSI), land identification of the building, number of floors, structure quality, height of the structure, basic structural design, etc, are assessed before the issuance of a completion certificate.
So, this is all from my side about completion. I hope it helps you.
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What Does Completion Mean When Selling a House?
mayur
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2024-12-05T11:44:55+00:00 2024-12-05T11:44:56+00:00Comment
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