BBMP withdraws occupancy certificate to Thanisandra apartment complex-Forged or Fake NOC from the Govt Department cited

This is not the only case. There may be many, which have not come out. There may be many skeletons like this and more hidden in the box. A thorough and diligent inquiry is a must for the purchase of any property.

The buyers of the apartments, generally check or look for the Occupancy Certificate, thinking that the property has all clear legal documents or a very good title. But, it is not so. Sellers/Marketing Agents, mislead the buyers, stating that the project or apartment has Occupancy Certificate.

Misleading statements from XXXXXXXXXXXXXXXXXXX, that XXXX Bank and Banks has or have approved the project for home loans. Be Careful. We have been consistently writing about this matter in our blog. Bank Loan does not confer any right, title and interest, if the title or the marketing title is defective.

The bank sanctions or approves the loan, based on the age of the application, co-applicant, guarantor, job, and financial status of the applicant and co-applicant, and thereafter, mortgages the property as additional or collateral security. Additionally, they have the right to take possession of the property, if 3 or more EMI are defaulted or not paid. Many buyers are not aware of the fact that the contents and clauses of the loan agreement.

An occupancy Certificate is issued to the builder on the completion of the building in accordance with the sanctioned plan.

An Occupancy Certificate does not confer any right, title, or interest.