Significance Of Completion Certificate in Real Estate

Category: Business

Buying or selling of property involves completing several formalities. Acquiring a completion certificate of the property one wants to buy is one of the first and the most crucial formality that needs to be fulfilled apart from the Title Deed, Property tax receipts and others. What is a completion certificate? Before the construction of any house or apartment, one needs to present the construction plan, its structure and other details to the appropriate authorities who in turn approve the construction. As a documented proof of this approval, the authorities provide a completion certificate to the concerned individual or group. The building then has to be completed as per the original plan, without any deviation whatsoever. Thus, in short, a completion certification is a documented proof that a property has been built in allegiance to the construction laws in the area. Why does one need a completion certificate? Suppose you are planning to purchase a house. Do you want to land in legal issues? You do not. In order to ensure that your property has been built adhering to the laws operating in the area, and has been permitted by the required authorities, you need a completion certificate of the property. Here are some of the most important reasons why you need a completion certificate. Migsun Wynne- 2/3 BHK Apartments in Greater Noida Gives a sense of security- A completion certificate provides a sense of security because it is only through this certificate that you can ensure your house is built properly and is a legal construction. Required for occupancy certificate- One cannot reside in a house without an occupancy certificate. Whenever one files for an occupancy certificate, they are required to show the completion certificate of the property. Thus, a person will not receive an occupancy certificate as long as the completion certificate is not provided. Required for selling- Once you want to sell your property, handing the completion certificate to the buyer is a must. One will not be able to sell their house without showing any proof of the completion certificate. This is because the owner of the house has to prove that the property is a legitimate construction to the buyer, and this can be done only through a completion certificate. Avoid legal complications- A completion certificate helps individuals to avoid legal complications regarding their property. One cannot be evicted from their house if they have proper completion and occupancy certificates. Thus, it is evident that in order to prove that the property is a legal construction, one should have a completion certificate from the authorities. Migsun is one of the top real estate developer in Delhi-NCR and is widely popular because of their years of dedicated service in the real estate industry. The company has a number of real estate and commercial projects to serve different purposes. Apart from providing large and luxurious properties at affordable rates, Migsun also ensures a fast and speedy acquisition of completion certificates before possession is given out to the homeowners. All the standards are maintained by the company for obtaining the completion certificate in each of its projects as there are strict terms and conditions by the local authorities for giving out the same. For some of its projects, the real estate major has been able to obtain the completion certificate much in advance of the schedule. For example, Migsun Wynn offering Ready to Move Flats in Greater Noida has received the completion certificate 450 days earlier than the given schedule. Thus, Migsun has been able to earn a good name for itself in the real estate industry of Delhi NCR.