#RERAStrikes: Why are developers hurrying to get Occupancy Certificates?

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Important document for NRIs

With the Real Estate (Regulation and Development) Act, 2016 (RERA) coming into effect on 1 May 2017, every state is required to establish a Regulatory Authority by that same date, which will have another three months to frame the rules and regulations. Meanwhile, builders of 'nearly completed' projects are busy in obtaining the Occupancy Certificate (OC) from their respective authorities. Many of these developers are doing so as they do not wish their on-going project to fall under the purview of the Act.

While RERA is not applicable to those projects that have the OC as on the date of notification, the projects without OC after the commencement of the Act will be subject to RERA regulations. This means, if a developer fails to obtain the OC from the local authorities, before May 1, 2017, they will have to get the under-construction projects registered with the regulatory authority before July 31, 2017.

Builders, therefore, have few days to procure the OC and escape the mandatory registration clause. However, builders will have only three months to complete unfinished work until the state regulatory authority frames the rules and regulations by July 31, 2017. The overall scenario is beneficial for the existing homebuyers who have invested in these project and are expecting on-time delivery.

 


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  • J BHATTACHARJEE August 12, 201711:11 pm

    I had purchased a flat in ongoing project. and I am staying in this flat from 2009. OC has not been given. The builder promised a lot. But as on date, they have not given these facilities like Club house, common Parking etc. During this period of time, they have changed the original plan in number of times. Now due to RERA, they have hurriedly managed to get
    OC and not registered under RERA. As per Maharashtra state rules, since the ‘sanctioned plan’ has bee substituted as ‘last sanctioned plan’ the builder is taking the benefit of this lacuna. Since the builder has deprived me from getting the infrastructure as per original plan, is there any provision in RERA so that he cannot take benefit of this last sanctioned plan . He plans one more building in this plot without fulfilling promise as per original plan.

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