The importance of an Occupancy Certificate

“We are happy to inform you that your dream home is ready for possession and registration. Handover & registration process will be initiated on receipt of the balance payment. We wish you a comfortable stay in your new apartment.” 

This is the news you have been waiting for! Ever since the day that you booked the apartment, three years ago, you have been saving and planning to fulfil the dream of your very own home.

This email is soon followed by the Final Payment Request Letter (FPRL) with details of the final amounts due to be paid by you. It goes on to inform you about the consequences of delay.

Please note that if you fail to take possession of your unit, for any reason, by ……. (date), you will be charged Rs 10,000 per month as Holding and Caretaker Charges, till the unit is taken over. In case the unit is not taken over during the Warranty Period you will not be entitled for any rectification in your Unit. In case you fail to register your unit by ……. (date), you will be charged Rs 10,000 as one time documentation, coordination and logistic charges.” Continue reading