Possession Certificate
Builder-issued document recording that physical possession of the unit has been handed over to the buyer. Must be issued only after OC is obtained. Required for home loan final disbursal.
What is a Possession Certificate?
A possession certificate is the official document issued by the developer recording the formal handover of physical possession of a specific apartment unit to the buyer. It confirms the date of possession, that the unit is handed over in accordance with the sale agreement, and that the buyer has taken keys and physical control of the unit. It is one of the final documents in the apartment purchase cycle.
When Should a Possession Certificate Be Issued?
RERA requires that builders issue possession certificates only after obtaining the Occupancy Certificate. Issuing possession without OC is a violation of RERA Section 17, which mandates that the developer obtain all approvals including OC before handing over possession. In practice, some builders issue "provisional possession" letters or "possession intimation" letters without OC and pressure buyers to take keys. Buyers should resist this pressure and insist on OC before signing any possession document.
What the Possession Certificate Should Record
- Project name, RERA registration number, builder name
- Buyer name and unit details (unit number, floor, carpet area)
- Date of possession
- Statement confirming OC has been obtained (and OC number)
- Confirmation that all dues (maintenance deposit, electricity connection charges, etc.) have been settled
- Statement that the unit has been inspected and accepted by the buyer (or noted defects per snag list)
Role in Home Loan Disbursal
For home loans on under-construction properties, the bank disburses loan amounts in tranches linked to construction milestones. The final tranche — typically 5–10% of the loan — is disbursed only after the possession certificate is submitted to the bank, confirming OC has been obtained and possession taken. Buyers should not sign a possession certificate for a property with a known OC deficiency, as this disburses the final loan amount but leaves them exposed to OC risk.
How Brickplot Uses This
Brickplot tracks whether possession at completed projects was offered with or without OC. Builder track records that show systematic "possession without OC" receive a negative mark in our Builder Integrity score, regardless of eventual OC receipt. This protects future buyers in the builder subsequent projects.
Related Terms
- Allotment Letter — the booking-stage document that possession certificate replaces at the end of the transaction
- Occupancy Certificate — must be in hand before possession certificate is issued
- Possession Handover Checklist — systematic inspection done before signing the possession certificate
Related terms
Brickplot verifies possession certificate disclosures on every reviewed project as part of the independent 11-axis score. No builder commissions. No editorial override.