What Is OC in Real Estate? What Buyers Should Know About Occupancy Certificates and RERA in Hyderabad
What Does OC Mean in Real Estate? If you have ever searched for a flat, apartment, villa, or completed residential project, you may have come across the term OC . But what is OC in real estate, and why does this small certificate matter so much when you are spending a large amount of money on a property? In simple terms, OC means Occupancy Certificate . It is a certificate issued by the competent local authority after the construction of a building has been completed and the authority has assessed whether the building can legally be occupied under the applicable local rules. Under the Real Estate (Regulation and Development) Act, 2016, an occupancy certificate is defined as a certificate issued by the competent authority permitting occupation of a building, with provision for civic infrastructure such as water, sanitation and electricity. For a buyer, this makes OC more than just another piece of paperwork. It is an important part of understanding whether a completed building has reach...