What is "OC" & "CC" in real estate?

The valuation of a property is required for decision making across various industries, whether it is government organisations, private organisations, individuals, or taxation authorities. They all rely on property value while taking decisions. It could be for capital gains, tax calculation or for investment decision making, where somebody is putting money to acquire the project or to acquire the stake in the project. For example, before sanctioning a home loan, the lender would understand the value at which a property can be acquired or traded in the market in case of a default. The lender relies on the valuation provided by a valuer to define the loan amount that it is willing to give to a home buyer. For example, if you are trying to take insurance for a building, the insurance company would need to understand the value of the building and its replacement cost, which is done by a valuer. What is the legal standing of a valuation report? The valuation report provided by a government registered valuer is admissible in the court of law for arbitration purposes. For court cases, there are valuation reports that people rely on. All the valuers provide reliance to the relevant party. For instance, if an auditor is depending on valuation report for financial reporting, the auditor needs to get a reliance from valuer that he is allowed to rely on this valuation report; then the valuation document becomes a legal document, and the valuer becomes responsible and liable for the valuation s/he provide. For more info What is an Occupancy Certificate and why is it necessary? https://www.magicbricks.com/blog/what..."OC"_&_"CC"_in_real_estate&utm_content=