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Apartment without occupancy certificate in bangalore

(Querist) 04 July 2015 This query is : Resolved 
Hello Experts,

I am looking to buy an apartment in Bangalore. I am stuck with the issue of several apartments not having Occupancy Certificate.

There are very few apartments that come with occupancy certificate. But the plans are not satisfactory to me or they are too expensive (~20% more than the ones without OC).

Will you kindly be able to clarify:
a. whether it is safe to go for apartments without OC now
b. the after effects in case of any regularisation that may happen latter
c. in case I go for apartment without OC, will there be any issue if want to sell it out

Several of the builders/friends advise that 80% of apartments in bangalore are without OC and nothing will happen, except regularising them through Akrama-Sakrama scheme.

Few of them ask me to just make sure that there is no floor deviation and go for such ones. The one that I like the most has floor deviation and comes ~15 lakhs less than comparable ones with OC.

Kindly advice me through your expert opinion on this.

Thanks and Regards.
Satheesh.
Jeetender Gupta (Expert) 05 July 2015
Are the banks ready to finance these apartments without OC?
Rajendra K Goyal (Expert) 05 July 2015
It is advisable to purchase the flats with OC, all legal documents and complete in all respect. This is not small deal.
dr g balakrishnan (Expert) 05 July 2015
IT SHD BE CLEAR 'AKRAMA AND SAKRAMA' IS COMMON IN BANGALORE.

OC HELD BUILDINGS NEED TO FOLLOW BUILDING REGULATIONS OF B B M C, THAT MEANS U R BOUND T LOSE SOME %OF AREA THAT YOU SHD WILLINGLY AGREE TO LOSE.

WHAT USE YOU HAVE UNAUTHORIZED ADDITIONAL SPACE IN YOUR FLAT THAT ADDITIONAL AREA ANYHOW ONE DAY MIGHT GET LOST AFTER CORPORATION PROPER INSPECTION THAT IS NORMAL TO TAKE PLACE SOONER OR LATER NONE COULD PREDICT.

FIRST ACCEPT FACTS OF FLATS AT B'LORE N THAT BASIS YOU BUY SIR.


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