RERA Law
Possession Letter
A formal document issued by a developer to a homebuyer confirming that possession of the purchased unit has been handed over.
The possession letter marks a significant milestone in a property purchase, and buyers typically inspect the unit against the promised specifications before accepting possession, since accepting it can affect their ability to later raise certain construction-related complaints.
It is also typically a prerequisite for completing related steps like mutation, obtaining utility connections, and, where applicable, taking a home loan disbursement.
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