What is the meaning of IOD?
IOD means Intimation of Disapproval. This is issued by the office of Municipal Corporation before start of the work.
What is the meaning of CC?
CC means Commencement Certificate. Municipal corporation on receipt of all the required documents & compliances made by the Builder/Developer issues the Work Commencement Certificate.
What happens when the work is started / completed by a developer without having IOD & CC?
The Construction work done by the Builder/Developer without IOD & CC amounts to Illegal . and liable for demolition.
What is Built up Area?
Built up area is arrived by loading 20% on the Carpet Area.
What is Super Built up Area?
Any area over and above the built up area is called super built up area.
What is the term FSI?
Floor Space Index is called FSI. This means how much construction is allowed on a particular land based on FSI.
What is the meaning of OC?
OC means Occupation Certificate. Municipal Corporation grant the OC after getting satisfied with the completion of Construction work in all respect.
Is the Registration of Agreement is Compulsory?
Yes now the Registration of Agreement is compulsory. This is also very safe as the Agreement cannot be registered if there is any irregularity.
Who has to remain present for Registration of Agreement?
The buyer& Seller of the property/Flat or the person having proper Power of Attorney can sign and appear before the Sub –Registrar/ Registrar, for Registration of Agreement.
Whether property can be purchased in the name of Minor?
Yes Property can be purchased in the name of Minor. However All the documents to be signed by the Parents/ Guardian on behalf of Minor.
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