Sundream group is known for their ultra-exquisite and state-of-art commercial projects in Noida. While dealing with their investors and buyers, the management has seen that most of their buyers are unaware of different aspects of property purchase, chief among which is the documentation part. Hence, to bring awareness to the commercial property buyers in general, here in this article, we are aiming at educating our readers about commercial property’s completion certificate. A completion certificate is a vital and mandatory legal document that attest to the fact that the building or property under consideration has been built and completed as per the safety standards and guidelines of the Building Act of the State. A compulsory NOC (No Objection Certificate) issued by the local development and municipal authorities, the CC (completion certificate) of any property in Noida ascertains that the property has been approved by the Noida Authority, as per the stipulations in the UP Industrial Area Development Act 1976.
Subject Matter of a Completion Certificate
The completion certificate must include all the necessary details, including the land identification, the location and if the property/building has met all the required safety standards and regulations, its distance from the road and surrounding properties/buildings, its height and other norms set by the Municipal authorities of the state, along with the attested building plan. To put it plainly, the completion certificate is the written guarantee that the building has fulfilled all the terms and conditions applicable in that locality. The property ownership Act applicable in every state of India makes it mandatory for the builder or owner of the property to have a completion certificate, for the property users to avail the basic amenities like water and electricity.
In the event a developer or builder is involved in the property, it is compulsory for them to give a copy of the completion certificate to the buyer.
What is the granting process of a completion certificate?
Once the developer declares his commercial projects in Noida to be complete in all terms, the local authority reviews and inspects the property based on the preapproved building plan and if it is satisfied, grants the completion certificate to the property. The developer after the inspection and a satisfactory report from the authority applies to the department again with a copy of the granted completion certificate to procure water, electricity and other amenities for his project.
Provisional or Temporary and Final Completion Certificates
A temporary or provisional completion certificate is typically granted to a developer if he wants to deliver a property to its buyer yet at the same time have pending work to finish, for instance – painting work, finishing work or amenities like – pool or kids play area. The tenure of provisional certificate is 6 months, after which the developer has to apply for the final completion certificate and that will be awarded by the authority if the pending work is done as per the norms and building plan.
Why it is crucial for the developer to have a final completion certificate?
A final certificate of completion is awarded to a property only after the construction is complete. It is a compulsory legal testimony that the property is constructed and completed by a builder without violating any building standards and rules. The points where builders violate rules include – floor area ratio limit, quality of construction, structural design, distance from road and surrounding buildings, number of floors, height of the building, etc. Thus, the certificate is needed for a property to receive its basic amenities, such as – water, electricity.
What are the repercussions of taking possession of a property that is not granted a completion certificate?
If the builder or developer is not granted with a completion certificate, the investor can personally approach the local municipal authorities to speed up the process. However, if the developer and the buyer choose to operate without getting a final completion certificate, the city authorities will penalize the property for the same and in the worst case, the buyers are even asked to evict the property.
Imagine, you are running your business operations in your office space, which is in a commercial project that has not received its completion certificate. You will always remain in fear that anytime authorities can put a lock on your office or you will be penalized heavily on your property. Such an incident if happens in front of your clients will ruin your market position and hence loss of reputation and business operations. Thus, it is important to get a completion certificate for your property purchased.
A completion certificate ensures that the building is safety norms (fire, accident and others) compliant. It is the responsibility of a developer to procure a completion certificate and hand it over to its buyer, however there are many developers who do not do their part. Hence, it is important for the buyer to choose a developer who is reputed and known for delivering quality projects with complete documentation.
So, if you are looking for a commercial property that has world class interiors and which is sorted for its documentation part, its time you buy Commercial property developed by Sundream group, visit the website http://www.sundreamgroup.com/construction/ for further details on various projects.
