Definition
In Indian real estate, the Occupancy Certificate (OC) or Completion Certificate (CC, depending on the municipality) is the ultimate municipal clearance. Once construction finishes, city engineers inspect the building. If it complies with the approved structural blueprints, fire safety norms, and rainwater harvesting rules, they issue the OC. It is illegal for buyers to move in without an OC, and banks will not issue final loan disbursements.
Practical Example
A developer finishes building a luxury apartment complex. Buyers are eager to move in to save on rent. However, the municipal corporation refuses to issue the Occupancy Certificate (OC) because the developer failed to install the mandated sewage treatment plant (STP). The buyer cannot legally occupy the flat until the developer builds the STP and secures the OC.
Application in Superwise
Securing the OC is the final threshold of project execution. Superwise tracks the staggering array of prerequisites required for OC application, from final fire clearances to architect sign-offs. Reaching the "OC Received" milestone in Superwise’s scheduler triggers the final 5% payment demand letters to homebuyers via the CRM.
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