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Deepak Thakwani (Student)     02 September 2012

Cidco mortgage noc

I have purchased a flat at Kharghar, Navi Mumbai.  It is 12.5% triparthrite agreement registered plot, Conveyance is not done. The society is recently formed. I have done agreement for sale and applied to nationalised bank for loan. The Bank  wants CIDCO Mortgage NOC.  CIDCO is stating , since conveyance is not done, CIDCO Mortgage NOC is not applicable, but nobody is giving in writing.  Bank  has shown proof where earlier CIDCO has issued the NOC.   I have spoken to many lawyers and agents who regularly interact with CIDCO, they also agree that earlier CIDCO was issuing such NOC, but now a new officer has been posted, and he has stopped the practice of issuing NOC for non-conveyance cases. The Bank is not disbursing without the NOC.  What is the way out?   



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