thecapri

Hi - How important is the Completion certificate while going for a resale flat ? The current owner does not have it. All other docs are present.

I know on a best case scenario the Completion Cert is a good thing to have. But is this a deal breaker ? Can I obtain another document/certificate which can serve the purpose ?

The society has been formed so does it IMPLY that the building is "Complete" from the legal perspective ?

Please share your thoughts.

Thanks in advance.
TheCapri

sakelkar

Does that flat have "Occupancy certificate"? Completion certificate is given to the project/building and not for an individual building. This is an indication that construction is NOT as per PMC norms and builder has possibly cut some corners.

If the flat has Occupancy certificate but does not completion certificate and then it is relatively lesser risk.

But I would not venture into any deal if it is not 100 % compliant.

All the best.

thecapri

Hi - Thanks for the response. Yes the flat has got the occupancy certificate.
Also the project is 12+ years old and the society was formed 2-3 years back.
Can the society be formed only when the completion certificate is given to the project ?

Thanks again,
TheCapri

realacres

Hey, wait man. If CC is not there even after 12+ yrs, then there is something seriously wrong with entire project. Note that without CC, you can't do conveyance deed which means you will be landless for life !!
Also, why was society formed after 10 yrs ?? Is it run by Pawar & Co., no performance at all ? Personally, I would not buy such a old flat at first place & even if one has to, in absence of CC, it is big no-no.

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thecapri

Thanks RealAcres.
No thankfully not by Pawar and Co. Let me double check with the society chairman abt the CC.

To be honest I found the quality of construction better than a few new (2-3 years) projects. The owner also did upgrade a few things in the flat. I was infact informed by the broker that the project is 12+ years old. I was under the impression that it is 5-6 years old. The general space, layout and society surroundings also helped me with the decision. I found minor leakage in only 1 bedroom which will be fixed.

sanav3

Can you name the society, the community might be able to share some experiences if you are willing to reveal the name and location of the society.

sakelkar

I do not quite understand how can OC be gotten without CC. I thought only one CC is done will the OC be given. I was under the impression that without CC PMC will not release water to the project. So now the question are

1> does your project have PMC water connection?
2> Did you verify it?
3> Does the owner have original PMC property tax bills and receipts for 12 years?
4> Does the owner have copy of blue prints of society plans?
5> Does the owner have copy of commencement certificate(s) from PMC?
6> Also ask the owner/society for "loan set" documents detailing property (land) on which the society stands. Get that loan set verified from the competent lawyer. It is just not enough to get the copy of previous agreements.
7> Also if you still want to go ahead with the deal, get originals chain of agreements done on the flat.

You can inquire about this project in PMC Town Planning Dept office to know more details about it

It is possible that, builder possibly did not install any of the below. Best bet to get the details of the criterion for CC from PMC. I think the list includes

1> Drainage system
2> Drinking water system
3> Fire fighting system. (This may not be applicable for older system)
4> Sewage treatment plan. (This may not be applicable for older system)
5> Solar system (This may not be applicable for older system)
and few more such things

Builder has cut some corners somewhere. Know them and then take the RISK. I repeat IT IS BEST TO NOT GO FOR SUCH PROJECT, however good it looks.

HTH

thecapri

Hi,

Thanks again for your response.
Points 1-2-3(last 3 yrs)-4- are present and I have seen it personally.

I will enquire for point 5-6-7

Yes I will definitely consult a lawyer to reconfirm.
The builder has a tie-up with HDFC. I will be taking a loan from them itself and will also cross verify about the project.

Thanks a bunch for this useful information.

Regards,
TheCapri

sakelkar

HDFC bank is not very good from diligence point of view, from personal experience. HDFC bank has granted loans to properties not fully compliant. Now with Yuthika project I have lost faith in SBI.

Try Axis bank and Bank of Baroda as well for more stricter legal oversight.

Good luck.

thecapri

Thanks to all of you guys in the forum for your advice.
I also consulted 2 lawyers and both of them were categorical in their advice. DO NOT GO AHEAD with the deal.

I have decided to follow the advice.

So back to square one in search of a resale house !!

My frustration is despite all this talk abt prices going down...they never will. Have been seeing it for the last 10 months now !

Regards to all,
TheCapri