Project Closing
Formalize the Successful Conclusion of Your Real Estate Project
Finalizing Your Compliance
A real estate project is not legally deemed complete just by finishing construction. Promoters must systematically close the project with the RERA authority ensuring all deliverables are met, funds are accounted for, and associations are formed.
Project Closing Scope:
- Procurement and filing of Occupancy Certificate (OC)
- Procurement and filing of Completion Certificate (CC)
- Final CA Certificate mapping 100% fund utilization
- Formation of the Homeowners Association / Society
- Handover of common areas to the Association
Why Formal Closing?
Without formal RERA closure, promoters remain liable for ongoing quarterly updates, risk audit failures, and cannot legally demarcate the end of their defect liability period.
Defect Liability Commences:
The 5-year structural defect liability period mandated by RERA officially begins upon the legal handover and project completion reporting to the authority.