The full form of IOD is Intimation of Disapproval.
The first three words of the real estate are IOD, CC and OC. These are the basic government permissions before investing or buying in property. IOD stands for Intimation of Disapproval or authorization. It sounds negative but is essentially the first permit that the developer gets to start building. It means the building layout has been approved. However, the developer still needs to get about 40 NOCs or ‘no-objection certificates’ from various departments.
Once these are in place, the developer gets the Commencement Certificate (CC). This is the final clearance to start building. However, the CC is given in two stages, which is upto the plinth level and then another one beyond plinth level. So, while booking, check if the floor on the flat has received the CC. If it has not received the CC, then that floor has not been approved by the government for construction. In other words, unless the CC comes in at a later date, the house would be illegal.
And for buying ready property, check for the last permission of the Occupancy Certificate (OC). Once the developer gets this document, he can legally give possession of the house. Also, if a house that has got an OC, Service Tax needs not to pay on it. After receiving the OC, the developer needs to submit a formal letter stating that the building has been made according to the standards set forth in the IOD and CC. the company receives the Completion Certificate after doing the procedure. The document means that the building can now connect to public utilities like electricity, water and gas.
The big 4 Permissions that mean the home is legal and approved are:
IOD or Intimation of Disapproval
CC or Commencement Certificate which is given in 2 phases
OC or Occupancy Certificate that allows the developer to give possession
Completion Certificate which you helps to connect into the civic power, gas and water supply.
IOD
means
Intimation of Disapproval
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