V39- Possession w/o Completion Certificate legal or illegal? S.17 RERA

One should not accept the offer of possession given by the builder without the project having Occupation (OC) and Completion Certificate (CC). One must seek CC, OC and assurance or undertaking from the builder to execute Registry post payment of all money. Refer to Section 17 and 19(10) of the RERA Act 2010 and Section 4(5) and 12 of the U.P. Apartment Act.
Registration of the Apartment is necessary before giving physical possession.
If Flat is accepted by an allotted without registry, OC and CC then he may have so many problems:
1. There shall be an issue in the transfer of the Apartment in future to another person.
2. There may be no loan against the project.
3. Insurance companies may reject your Insurance claim if in case you suffer bodily injuries in an under-construction project or loss to any property.
4. Car Insurance company may refuse repairs if in case there is any loss to the car within a project w/o OC and CC.
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PRESENTED BY: Prashant Kanha, Advocate on Record, Supreme Court of India, New Delhi. He is based out of Delhi and practices law mainly in the Supreme Court of India and High Court of Delhi, conducts arbitration as an arbitrator as well as a lawyer besides practicing before many other courts and Tribunals across India in various fields with the help of his team of lawyers.
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All due care has been taken by the presenter to stay accurate however, the interpretation of the law is based on specific facts and circumstances as such given information may not be fit for all as such always seek independent legal advice.