Builder sold Flat without taking NOC from Bank
1 year ago
purchased a flat in the complex and the Full payment was done by me and My Registry is done . Afterward I came to know that Builder had to took NOC from Canara Bank before Each flat Registry . In my case , Bank told me No NOC was issued for my flat and the builder didn't inform the Canara Bank for the sale . So , will Canara Bank create problem to me ?
A.Dear Client
It was the builders duty to take the NOC from the Canara bank if there was any loan on the said property and it was not your duty. The Bank should refrain from taking any action against you and if it does then you will have all the possible remedy under the law.
It was the builders duty to take the NOC from the Canara bank if there was any loan on the said property and it was not your duty. The Bank should refrain from taking any action against you and if it does then you will have all the possible remedy under the law.
Helpful
Helpful
Share
A.Dear client,
No Objection Certificate is a statement of permission given to a person or a company to proceed with the purchase or construction of a property. While constructing an apartment, a bungalow, or any other structure, applicants must obtain a NOC for building construction from the appropriate government authorities. At the time of lending money, banks ask for a NOC from a builder or a society. This NOC helps in avoiding legitimacy for funding the property.
If you purchased the flat from the builder after paying full consideration and the sale deed is registered in your favor, then no NOC is required to sell the property in future.
No Objection Certificate is a statement of permission given to a person or a company to proceed with the purchase or construction of a property. While constructing an apartment, a bungalow, or any other structure, applicants must obtain a NOC for building construction from the appropriate government authorities. At the time of lending money, banks ask for a NOC from a builder or a society. This NOC helps in avoiding legitimacy for funding the property.
If you purchased the flat from the builder after paying full consideration and the sale deed is registered in your favor, then no NOC is required to sell the property in future.
Helpful
Helpful
Share
Read Related Answers
Flat Purchase
Dear Client,
In addition to the above, you need to obtain the following documents:
Mother Deed
Building Approval Plan
Sanctioned Plan Copy
Water & Sewage, Pollution, Electricity Approvals
Commencement...
Regarding undivided property
Dear Client,
According to the Hindu Law of Inheritance, the paternal property that is undivided for at least four generations qualifies as an ancestral property and the coparceners have an equal share...
Property - Our share of property
Dear Client,
A property when left by the deceased owner intestate i.e, without any will, is devolved upon the surviving legal heirs in equal share following the law of inheritance/succession. In ca...
Confiscated phone
Dear Client,
If a school is generally follows the CBSC rules strictly in all aspects then it might not be possible to recover your device back. Talk to the management authority and write a handwritten...
My mother and my wife needs safety for a PLOT
Dear Client,
Your mother can transfer the property to you by executing a gift deed in your favor. In that way, there will be no apprehension of losing the title over the property or anyone else claimi...
Read Blogs on Property
Property Lawyers
Find Lawyers by Location