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.
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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.
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