Real estate approval document need to check before investing in upcoming/under construction property

Discussion in 'General Property Investment Discussion' started by Jennifer Martin, May 27, 2016.

  1. Jennifer Martin

    Jennifer Martin New Member

    Intimation of Disapproval (IOD)
    IOD is an essential permission given to the developer by the municipal authorities.

    After development plans are submitted to the Building Proposal Department of BMC, an IOD is issued, and under the terms and conditions of the IOD, the developer is asked to comply with many requirements and obtain various clearances like clearance from Environment Authorities, Tree Authorities, Fire Officer etc. After these clearances are obtained, the developer is entitled to obtain a Commencement Certificate (CC).

    Commencement Certificate (CC)
    A certificate issued by the appropriate local authority certifying the construction may commence. Typically, this is done after the concerned party has obtained sanction of plans for the construction of a multi-storied building.

    Occupancy Certificate (OC)
    OC is a certificate issued by the local municipal authority certifying that all necessary works have been completed as per the sanctioned plans and that the property is fit for occupation. The OC is issued after clearance from the water, electricity, sewerage, fire fighting authorities etc.
     
  2. nmb

    nmb Well-Known Member

    Hi @Jennifer Martin , many thanks for listing these acronyms as sometimes it is very easy to get confused. Perhaps we could all work together to create a large list of property related acronyms?
     
  3. Sevi

    Sevi New Member

    Different acronyms for different countries and of course different languages... so best to consult an independent legal expert in each location...
     
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