Should I purchase any property without occupancy certificate?

I am a 42-year-old woman intending to purchase a residential property in Mumbai. We have nearly finalized a particular property; however, during the process, it has come to our notice that the building has not yet been issued an occupancy certificate. The existing residents have stated that they have been residing in the premises for a considerable period without facing any difficulties. In these circumstances, I seek to understand whether it would be prudent and legally advisable to proceed with the purchase of such a property.

- Aditya Chopra is managing partner and Fatima Ali is associate at The Victoriam Legalis (TVL).

With property rates skyrocketing, it is strongly advisable for buyers to ensure that all documentation is proper and complete to facilitate a smooth sale and purchase process. An occupancy certificate, commonly referred to as an OC, is a crucial document that home-buyers must verify while investing in a property. As per Section 2(zf) of the Real Estate (Regulation and Development) Act, 2016, an OC is defined as a certificate issued by the competent authority permitting occupation of any building, as provided under local laws, which includes provisions for civic infrastructur