Can I go for apartment registration without OC?

1 year ago

I have bought an under construction apartment(250+ flats) in Bengaluru, for which the handover was supposed to happen last year end but it has been delayed.

Now the builder is saying they are planning to open Registration for 50 odd flats(For the people who are in dire need of possession and becoming impatient due to delay) & they'll be working on getting an OC in parallel. Post registration we can do our interiors & by the time we plan to move, OC would be ready.

And to ensure that there would be no problem with getting OC later, builder is telling they are ready to make a deed, which'll say they will give OC or else they are liable to pay 70% of the property amount back to the owner.

According to builder the timeline looks like this : Registration - Interior - OC - Possession certificate from Builder - Move In
Is this legally acceptable? Can there be a situation we don't get an OC after registration ?
He is stating elections as one of the reasons for delayed OC.
It's a BBMP limit Rera approved project.

So need an opinion from the experts on what do I do here?