Completion Certificate

A Project Completion Certificate is a legal document that a builder needs to obtain after the completion of the construction work. This certificate declares that a housing project has been developed as per the initially prescribed plan and by abiding by all the applicable legislations.

Officials from the municipal body or any other state-government authority pay a physical visit and inspect the project before issuing a completion certificate. In case of non-compliance with the applicable construction by-laws and standards of safety, the authorities may impose hefty fines on the builder. 

In order to get a completion certificate, you will be required to furnish copies of certain paperwork:

• Lease deed or sale deed

• Construction layout, its approval document, and the permission letter 

• Latest receipt of the tax paid

• Electricity cable and road-cutting charge receipts

• Borewell permission fees receipt

• Underground Drainage (UGD) connection charges receipt

As per the rules, the developer or owner of a project needs to request a completion certificate from the local body authorities. 

The officials from the concerned department will visit the project site and examine if all the laws are followed in constructing the building. Upon satisfactory results, the officials issue a completion certificate. 

The primary responsibility to acquire a project completion certificate lies with the builder. However, homebuyers can also request a completion certificate from the municipal body office. 

While taking possession of the property, it is strictly advised not to do so without a possession certificate. If you purchase a property without this certificate, you could be breaking the law and can be charged a penalty for non-possession of the document.

You may be wondering how long it would actually take to acquire a Project Completion Certificate, as it sounds like a tedious process. But in reality, the process is quite straightforward. 

On submitting the application to the concerned local authorities, the executives will then be required to closely examine the property. They will make sure that all the rules and regulations have been respected. 

If the officials are convinced that the property is constructed within the set boundaries and procedures, they will sign and stamp the certificate and issue it within three to four weeks of the examination.

A completion certificate contains some crucial details relating to the property, that include:

• Land identification document

• Location

• Details about the builder or the property developer,

• Particulars about the material used in the construction and its quality

• Height of the building

Conclusion

Purchasing a home is a dream for many. However, you must note that when it comes to buying and selling a property, you must follow the due process. This means that you must necessarily obtain the project completion certificate. 

If you are looking to purchase a property, and wish to avail of a Home Loan, Bajaj Markets is the website to visit. With partners across a wide network of loan providers, you can get a home loan, at a cost-effective home loan interest rate.