Overview & Statutory Framework
Successfully concluding a real estate development project requires navigating strict final compliance steps defined by the RERA Act. A project is not legally concluded upon the completion of physical construction; the promoter must formally acquire the Occupancy Certificate (OC) and Completion Certificate (CC) from the local planning authority, execute the conveyance deed in favor of the buyers, form a cooperative housing society or Association of Allottees (AOA), and submit the final audit statements. We assist developers through this final lifecycle stage, coordinating local authority approvals and drafting formal handover documents to ensure a seamless and legally sound exit.
Under Section 17 of the RERA Act, the promoter must execute a registered conveyance deed in favor of the allottee (buyer) and hand over the common areas to the association of allottees within 3 months from the date of issue of the Occupancy Certificate. In addition, the developer must transfer all booking records, building designs, structural details, and municipal approvals to the housing society. Failure to handle these handovers in a compliant manner leaves developers open to litigation, property disputes, and ongoing compliance notices from RERA authorities. Our expert consultants ensure all handover documentations are executed flawlessly.
Core Components
- OC and CC Acquisition Support: Assisting developers in preparing documents to secure Occupancy and Completion Certificates from local municipal corporations.
- Drafting Conveyance Deeds: Structuring and registering conveyance deeds for individual apartments, plots, and common areas in favor of the AOA.
- AOA / Housing Society Formation: Guiding developers and residents through the legal bylaws, registration, and formal setup of the Resident Welfare Association (RWA) or Cooperative Society.
- Final CA Audit & Escrow Accounts Closure: Preparing the final project accounts, closing the dedicated escrow account, and submitting final compliance checklists to the RERA desk.
- Transfer of Project Documentation: Compiling and delivering all blueprints, sanitation plans, electrical layouts, and equipment warranties to the newly formed society.
Frequently Asked Questions
What is the difference between a Completion Certificate (CC) and an Occupancy Certificate (OC)?
A Completion Certificate (CC) is issued by the local authority certifying that the project has been built in accordance with the sanctioned plans and municipal bylaws. An Occupancy Certificate (OC) certifies that the building is physically fit for human habitation, verifying access to water, electricity, and sanitation. Both are mandatory under RERA.
What is the timeline to execute the conveyance deed under RERA?
Under Section 17, the promoter must execute the conveyance deed in favor of the buyer, and transfer the title of common areas to the Association of Allottees, within 3 months from the date of issue of the Occupancy Certificate, unless local state laws prescribe a shorter timeline.
Can a developer withhold common area maintenance funds after project completion?
No. Upon project completion and the formation of the Association of Allottees, the developer must transfer all accumulated maintenance deposits, sinking funds, and corpus funds to the association, along with detailed audit records.
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