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What is OC & CC in Real Estate? Why Every Pune Buyer Must Check Before Moving In
Posted on : 24/04/2026
Introduction
Lets face it. Most of us just quickly glance at the page before signing a sale agreement. The document is long. Filled with complicated legal terms and the builder is right in front of you. The reality is that this agreement is your only safeguard if problems arise. So lets go through it step, by step using words.
What Exactly is a Sale Agreement?
A sale agreement, which is also known as an Agreement for Sale or AFS is an important document. It is between you and the builder. It is legally binding. This document includes everything. The price of the property is in the sale agreement. The payment schedule is also in the sale agreement. The possession date is included in the sale agreement. The sale agreement even says what happens if you or the builder do not do what you are supposed to do. In Maharashtra there are rules made by MahaRERA. These rules say that every builder has to register the sale agreement. The builder has to do this before they can accept than 10 percent of the total amount as a booking amount, from you for the sale agreement.
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Key Clauses to Read Carefully
When you are buying a flat in Pune there are some important things in the agreement that you need to know about before you sign it. These things are called clauses in a purchase agreement in Pune. You have to understand these clauses in a purchase agreement, in Pune before you put your name on the paper.
Carpet Area & Specifications
When you are buying a place the RERA law says that builders have to sell it based on the carpet area, not the built-up area. So you need to check if the carpet area they are talking about is the same as what you saw. You should also ask for a list that includes what kind of flooring fittings and finishes they will use. If they say something like “we use branded fittings” without giving you any specifics that is a sign. The RERA law is there to protect you so make sure the builders are following the rules, about carpet area.
Total Price & Payment Schedule
The agreement has to say what the total price of the flat is. This means it has to include the base price, GST, stamp duty, registration, parking charges and any money for the club or maintenance. Sometimes builders will add charges after you sign the agreement. If something is not written down in the agreement then it is like it never happened with the flat and the builders. The agreement is very important, for the flat.
Possession Date & Grace Period
This is the one. Your possession date clause has to be a date. It cannot be something, like “approximately 36 months”. You also need to check the time that builders give themselves which is usually 6 months. Under RERA Maharashtra if the builders delay giving you possession of your home beyond this time you will get interest compensation. The interest rate will be the SBI MCLR rate plus 2 percent. This means you will get compensated for the delay. The possession date clause and RERA Maharashtra are very important here.
Penalty for Delay – on Both Sides
Many agreements have penalties if you are late, with a payment. Sometimes it is 18% interest every year. When the builder delays the penalty clause is often not that strong. Make sure the delay penalty clause is fair and follows RERAa compensation formula.
Cancellation & Refund Policy
Life is full of changes. You should always think about what happens if you need to cancel something. For example if you are working with a builder you need to know how money the builder will take away from you. A good cancellation part in your property agreement should say how much money will be deducted, which is usually around 2 to 5 percent of the amount. It should also say when you will get your money back which should be within 45 to 60 days. This is a way to do things. Always look for this when you sign a property agreement with a builder. The property agreement should have a cancellation clause that says what happens if you need to cancel and the builder should be fair, about the cancellation clause.
Force Majeure Clause
After COVID people started using this part of contracts too much. Builders will often use the force majeure part to get out of paying penalties for being late. They will use it for almost anything. If the government is slow if they do not have enough materials or if they have problems, with workers. You should read this part carefully. If it seems general you should say something or ask your lawyer to make it more specific.
OC, CC & Handover Conditions
The agreement has to say that you can only move into the place after you get the Occupancy Certificate from the authority. If you take the keys without this certificate it is like living in a building that’s not really legal. This can cause problems for you on. For example you will not be able to get a loan to buy the home or sell the flat when you want to. The Occupancy Certificate is very important because it shows that the building is safe and legal. Without it the Occupancy Certificate you will have trouble selling the flat or getting a home loan, for the flat.
Your Quick Pre-Signing Checklist
- RERA project registration number is mentioned in the agreement
- Carpet area is clearly defined as per RERA guidelines
- Specific possession date with grace period is written
- All charges (GST, parking, maintenance deposit) are listed
- Delay penalty clause is fair and balanced on both sides
- OC/CC mandatory before possession is clearly stated
- Cancellation and refund terms are fair with timeline mentioned
- Dispute resolution points to MahaRERA — not private arbitration
FAQS
Is it Mandatory to Register a Sale Agreement in Pune?
Yes, it is safe — provided you verify these key things first:
✅ Check their RERA CP Registration — Every legitimate channel partner in Maharashtra must be registered under MahaRERA. Verify their CP number on the MahaRERA portal (maharera.mahaonline.gov.in) before proceeding
✅ Check Builder Tie-ups — A credible CP will have documented agreements with reputed builders like Godrej, Kolte-Patil, and others
✅ Check Google Reviews & Testimonials — Look for genuine past client reviews and testimonials before trusting anyone
✅ Insist on Documented Agreements — Never make any payments without a proper written agreement and official receipts
✅ Verify RERA Project Numbers — A genuine CP will always be able to share the RERA registration number of the project they are selling
⚠️ Red Flags to Watch Out For:
- Charges an upfront consultation fee
- Pushes only one builder without offering alternatives
- Avoids or cannot share RERA project numbers
- Cannot explain the builder’s track record
- Asks for payments without proper documentation or receipts
Can I Negotiate Clauses in a Builder's Sale Agreement?
Yes, you can and you should. Here’s how:
- A sale agreement is a legally binding document and many clauses are negotiable before signing
- Key clauses you should try to negotiate:
- Possession date — insist on a specific date, not vague terms like “approximately 36 months”
- Delay penalty clause — ensure it follows RERA’s compensation formula fairly on both sides
- Cancellation & refund policy — negotiate deduction to 2–5% maximum and refund within 45–60 days
- Force majeure clause — make it more specific rather than general/broad
- No material changes clause — ensure builder needs your written permission for any changes
- Always take help of a real estate lawyer before signing
- Remember — anything not written in the agreement does not exist legally
- Builders may resist changes but a good Channel Partner or lawyer can help you negotiate better terms
What Happens When the Builder Delays Possession Beyond the Date?
Under MahaRERA, buyers are well protected in case of builder delays:
- Every builder is allowed a grace period of 6 months beyond the promised possession date
- If the builder delays possession beyond this grace period, they are liable to pay you interest compensation
- The interest rate is calculated at SBI MCLR rate + 2% on the amount you have paid
- This compensation continues until actual possession is given
- You also have the right to:
- Continue with the project and receive interest compensation for the delay
- Cancel the booking and demand a full refund with interest if delay is significant
- File a complaint on the MahaRERA portal if the builder refuses to compensate
- Make sure the delay penalty clause in your agreement is fair and clearly follows RERA’s compensation formula
Can a Builder Change Flat Specifications After Signing the Agreement?
Technically No — but you need the right clauses in your agreement:
- Once the sale agreement is signed, builders should not make any material changes to:
- Layout or floor plan of the flat
- Amenities promised in the project
- Common areas or facilities
- Flooring, fittings, or finish specifications
- Your agreement should have a “no material changes” clause that prevents builders from making changes without your written consent
- If the builder wants to make any changes they must get your written permission first
- If the changes are significant you have the right to cancel the deal and get a full refund
- ⚠️ Watch out for vague specifications like “branded fittings” without specific details — always insist on a detailed specification list in the agreement
- Any change made without consent can be reported to MahaRERA for resolution
What Should I Do If I Find an Unfair Clause in the Sale Agreement?
Follow these steps if you spot an unfair clause:
Step 1 — Don’t Sign Immediately
- Never sign under pressure — take the agreement home and read it carefully
Step 2 — Consult a Real Estate Lawyer
- Get a qualified lawyer to review the agreement before signing
- They can identify unfair or illegal clauses
Step 3 — Negotiate with the Builder
- Point out the unfair clause and request it be amended
- Ask for a revised draft with corrected language
Step 4 — Check Against RERA Guidelines
- Verify if the clause violates any MahaRERA rules
- Dispute resolution should point to MahaRERA — not private arbitration
Step 5 — File a MahaRERA Complaint if Needed
- If the builder refuses to correct clearly illegal clauses, file a complaint on the MahaRERA portal
- MahaRERA has jurisdiction over all registered projects in Maharashtra
Key unfair clauses to watch for:
- Vague possession dates like “approximately 36 months”
- One-sided delay penalties — strict for buyers, lenient for builders
- Broad force majeure clauses covering almost anything
- Refund timelines beyond 60 days
- No compensation mentioned for builder delays
- Dispute resolution through private arbitration instead of MahaRERA
Have a question about buying a flat in Pune? Drop it in the comments below - I read every single one!
Disclaimer: Property prices mentioned are indicative based on market research as of 2024–25 and may vary based on project, floor, and amenities. Please contact our team for current pricing and availability.
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