It’s better you only take losses when there is cc and oc and not before. He can’t legally bound you to take poseesion without oc

It’s better you only take possessionwhen there is cc and oc and not before. He can’t legally bound you to take poseesion without oc

if you trust the builder you can go ahead but sometimes it takes a lot of time to get oc due to illegalities in projects. The decision is yours

Never buy that flat until builder gets CC. What if authorities did not issues CC to builders, what if there are violation of norms therefore CC could not be issued. You entire amount will go in waste

It is not advisable to pay any money or purchase the property in haste.

The developer cannot be trusted, once he has received the full money he may not keep up his words to get CC for the property.A flat without CC can be demolished by the authorities concerned if it has been constructed violating the the approved plans.

There is no necessity for you to pay the loan obtained by the developer, until and unless you do not get NOC from the mortgagor, there is no guarantee on this.

If the developer do not pay the mortgage loan on the property you selected then there are chances that the mortgagor or the bank to recover the the loan amount by taking possession of this property and sell it by auction sale.

What prevents you from taking a proper legal opinion from an experienced lawyer by producing the copies of property related papers. 

If you want to fall into the pit dug for you blindly then it is your fate.

If you can afford to waste your hard earned money and run behind the builder, government and courts to recover your money if things go wrong and the builder do not respond, then you can do whatever you like.

If not this property there are lot of properties in the world, you can choose a better property than this if you have patience.

Seems like you do not want to listen to the proper opinions rendered, hence you can decide whatever you want to do

No don’t purchase the flat until CC is issued 

if at all you want to purchase pay only token money and balance on CC being obtained 

Enter into agreement for sale pay token amount of Rs 2 lakhs or so 

agreement for sale should mention that balance amount is to be paid within 30 days of obtaining CC 

Sale deed to be registered at time of making balance payment 

Hi,

• Simply avoid the flat till the builder gets a valid CC
• As you have said, “ you can wait but flats may not wait’? but what if builder fails to get CC? what if authority doesn’t issue CC coz of some other issue which you are not aware of?
• Still if you are so keen to book the flat, you can do it at your own risk by paying some token money but please don’t pay full amount till builder gets a CC
• There are hundreds of flats with valid CC why are you so keen to purchase this specific one without CC/OC?

Dear client,  

Before making any payment, it is important to verify the status of the mortgage with the relevant authority to ensure that the builder is authorized to release the mortgage of the particular flat with the money you pay. Additionally, you should also verify the status of the occupancy certificate (OC) and completion certificate (CC) with the local authorities to confirm that the project is compliant with all the necessary regulations and safety standards.

If you are satisfied with the status of the mortgage and the necessary certificates, you can proceed with the purchase. However, it is recommended that you enter into a written agreement with the builder, specifying the payment terms and conditions, timelines for obtaining the necessary certificates, and consequences for delay or non-compliance.

If the builder is demanding full payment upfront, you can negotiate to pay a token amount as advance to secure the flat, subject to the necessary certificates being obtained within the agreed timelines. You can also include a clause in the agreement that allows you to cancel the agreement and seek a refund if the certificates are not obtained within the agreed timelines.

In case of any dispute or non-compliance, you can seek legal recourse through the appropriate authorities or courts.

Paying entire amount upfront pending the CC and release of mortgage is not at all advisable

what if the builder defaults?

your money will be trapped

so if you want to block this particular flat then make a part payment and enter into an agreement in which the builder would be made to agree on specific timelines within which he will get the mortgaged released and obtain the CC

if he does not comply with the agreed period then it can be agreed that he will have to refund your advance with some interest 

alternatively you can make the payment directly to the mortgagee/lender instead of to the builder 

when the builder gets the CC, you can make the balance payment to the lender and if there is any more amount left as per your agreement with the builder then that much only will be paid to the builder

however please note that if the builder defaults in getting the CC, then it would be difficult to get refund of your advance from the lender in which case the liability would have to be borne by the builder to refund you that amount

so the agreement has to be properly worded in order to safeguard and protect your money and interest in the flat