what is an occupancy certificate (OC)?

Occupancy Certificate:

An occupancy certificate also known as an OC is issued by a development authority or municipal corporation to a newly constructed building. This is issued after inspecting the building with regards to adherence to the approved plans. It is essentially a kind of 'fitness certificate' and allows the residents to move in and stay. Without an OC, a building may be considered illegal and impact the availability of official utility connections like gas, water, power etc.
For which people buying properties should consider buying properties which have OC. It is usually given to the newly constructed properties only and if they have taken or obtained the Commencement Certificate at the time of starting the project. It is given only when the property is constructed by the guidelines laid down by the authorities.