Builders of lakhs of housing societies in Mumbai that do not have an occupation certificate will have to register their projects with Real Estate Regulatory Authority Act.
Under this act , Projects do not have an OC will be considered as ongoing project and will get a period of three months from May 1 , 2017 to register with housing regulator.
State Housing Regulator received applications from two developers and ten brokers to register their project.
As per rough estimates around 56,000 buildings in the city do not have an OC.
OC is mandatory for moving in to a new building.
According to civic norms, owners cannot live in flats untill it has been given an OC from the building proposal department of BMC.
The civic body received 6393 OC proposals in past five years out of them 3072 buildings has been granted approvals.