The OC full form in building is Occupancy Certificate and its importance can’t be overstated. An occupancy certificate is a document that is issued at the construction’s end, by a planning authority or local government agency. It acts as proof of the building's compliance with necessary building codes as well as other laws.
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Now that you know what is OC in building, let’s read about its importance:
A certificate of occupancy ensures that the particular property is in an ideal condition for occupancy.
Without an OC for building, it is very difficult to obtain a Khata Certificate in states such as Karnataka.
If you don’t have OC, then it might get hard to find a buyer in case you want to sell your property in the future.
Various financial institutions ask for the Occupation Certificate to sanction home loans.
Without an OC, you may find it hard to get an electricity supply connection or sanitary connection, or water connection.
Without an occupancy certificate, occupying a building is considered as illegal and local civic bodies might ask you to vacate the building.
Your employer may ask you to submit OC along with the housing loan statement in case you want to claim Income Tax benefits on your housing loan.
You will frequently come across real estate terms such as 'construction without OC' or 'construction with OC' whether you have bought or planned to buy a real estate. If you understand what an OC is, when it is granted, and the consequences of not receiving one will assist you in making a more educated decision about which property to purchase. So we must understand what is OC in real estate.
OC received meaning:
An OC, or occupancy certificate, is a document given by municipal authorities that authorises the occupation of any facility with civic infrastructures such as water, drainage, and power generation. The builder or sponsor submits to the local authorities a Building Completion Certificate and an Occupancy Certificate after the construction is completed. The municipal officials check to see if the construction was done according to the approved plans and the regulations. If this is the case, the municipal authorities will grant a Building Completion Certificate, followed by an Occupancy Certificate.
Documents required for building OC:
The application form.
A copy of the approved plans
Buildings photographs
A certificate of structural stability from a professional structural engineer is required.
A licenced structural engineer issues a certificate of completion.
A certificate of completion from an Architect Licensed Structural Engineer/ Engineer/ Supervisor is required.
A certificate from the landowner or developer stating that the tree plantation is in agreement.
Last year a house in our locality was demolished as a part of it was violating the norms of construction. I really cannot understand why people don't abide by the rules. The latest example is the Noida Twin Tower. What was the purpose of making a building that violates rules? At last the buyers had to bear the brunt of builders negligence. The builders, of course knew OC building meaning and norms yet did not bother to abide by it. Anyway, I am glad you are here asking about it. Let me help you out.Get legally verified documents along with your dream apartment by availing NoBroker Buyer PlansGet helped by experts from NoBroker Legal Services and get all your real estate related queries resolvedWhat is the full form of OC?OC stands for Occupancy Certificate and is given only after a construction meets the building standards. What is OC in building construction?Builders can build apartments or houses as they want but it must abide by the rules and regulations of construction or else it will never get approved by the Municipal Authority and people can ever occupy such buildings legally. You will need the OC certificate if:
You want to apply for a loan
Sell or hypothecate the property after a brief span of time
To get water connection, sanitary connection or electricity connection and more.
Hey there! If you're involved in construction, you may have heard the term "OC" thrown around. There are various forms and terms used for property, some of them are technical. I will tell you what is OC in property and a few important terms below.Get your OC and other property documents verified by the legal expert at NoBroker What is OC full form in building construction?OC full form in construction is "Occupancy Certificate". It is a certificate issued by the government to certify and confirm that the building which has been constructed is safe for occupancy. Why is it important?
OC certificate for building also acts as a verification that the construction has been done as per the approved building plan. It's proof that the building meets all the necessary safety and construction standards. Living in a building without OC is not allowed, it is a chargeable offence.
OC is needed to receive basic utilities like water and electricity connections. It's also needed for availing home loans, insurance, and for reselling the property in the future.
On average, Occupancy certificate cost range from five hundred to a few thousand. The exact OC cost will depend on size of the property, location, and type of building. Few other terms a buyer needs to know are Completion certificate and Possession certificate.How to get building occupancy certificate online?
I checked out a project just last month and found out that the project has not yet received its OC. The meaning of what is oc in real estate is simple. An Occupancy Certificate is an official document issued by the local government or building authority that confirms that a building or a specific unit within a building abides by the applicable building codes, regulations, and standards, and is safe for occupancy. So the OC full form in real estate is Occupancy Certificate. Without having this certificate, it is kind of illegal to move into an apartment. Before you spend any money on any building, make sure it has an OC.
Why is OC of building required?
An OC of building states that the
Building abide by all the rules and regulations of construction
It is an official document stating that the building has been constructed as per the approved plans provided to the government
The OC assures that the building is safe for occupancy and through inspection has been done
If you want to avail any loan or debt, you need to show that you have an OC thereby minimising financial risks
OC full form in property is an Occupancy Certificate. The Occupancy Certificate is one of the most important documents to obtain once you have decided on a property. The OC meaning in real estate is that It is a document that the relevant civic organisation has issued to confirm that:
The building was completed in accordance with the approved plan and bylaws.
It complies with building regulations.
It includes all essential amenities.
The fire No Objection Certificate (NOC) and all other necessary approvals are in place.
After understanding what OC of building means, let us focus on,The occupancy certificate is issued by whom?After a thorough examination, the relevant authority issues the building OC certificate and, in accordance with local legislation, enables the occupation of any building. Typically, municipal corporations and other local civic organisations distribute these. The certificate is typically issued by the local authority 30 days after the project is finished.Who is responsible for getting the OC?To avoid any disputes in the future, it is the builder's responsibility to obtain the OC from the issuing authorities and make it available to the home buyers. However, if the owner has already taken possession of the property, they may still apply for the paperwork at the office of the relevant body.I hope this will help!Get all legal documents verified by the experts at NoBroker legal assistance serviceRead More:How to check occupancy certificate online?How To Calculate Non Occupancy Charges in Housing Society
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What is OC in building?
Manisha
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September 20, 2021
2021-09-20T17:07:35+00:00 2023-07-23T20:15:17+00:00Comment
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