She completed her undergraduate studies in 1963 in the Department of Social Sciences at the Faculty of Arts and Sciences. She worked as a research assistant at the Department of Social Planning at the State Planning Organization (DPT). In 1966, she enrolled in the Department of City and Regional Planning at METU and, in 1968, she completed his Master's degree at the London School of Economics with an OECD scholarship.

From 1971 to 1974, she conducted doctoral preparatory research in Germany with a DAAD scholarship at Saarland University, and also worked as a researcher, expert, and consultant at the Institute of Social Planning and Development Studies in Saarbrücken. In 1983, under a fellowship program at Johns Hopkins University in the United States, she conducted studies on low-income housing and ethnic groups. Upon her return, she continued her work as a consultant and researcher for projects such as UNICEF's Squatter Health Improvement program, the World Bank's Pamukkale Resettlement project, and various Conservation and Urban Revitalization projects.

From 1974 to 2007, until her retirement, she worked as a faculty member in the Department of City and Regional Planning at METU.

Osmay taught courses such as Urbanization and Urban Sociology (CRP 105-106), Urban Social Theory (CRP 510), Social Aspects of Planning (CRP 415), Participatory Design and Planning (CRP 453), and participated in Planning Studio (CRP 401-402) workshops. Her research and publications include topics on urban transformation and settlements, migration and housing for low-income groups, the changing social geography of metropolitan areas, participatory planning, and governance.