LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

anandkumar.n (DGM)     22 September 2012

Noc from builder

I am planning to buy  an apartment  built in 2008 from the first owner  .The society has been formed.Sale deed is clear.

Society is ready to give NOC./All papaers are clean./

When i hv approached a nationalised bank for housing loan ,they are asking for NOC from builder,saying that it is reqd as conveyance deed is not ready ./Builder says the society has been formed and why should he give the NOC./

1).Is it technically right  for bank to demand NOC from builder ./

2.)and if so how to get it done from the builder?

3)what is a conveyance deed ?(i understand that the apartment is built on a  cidco tender plot)

Pl reply at the earliest ,as i am searching solution for quite sometime and noone is giving me a specific reply.

thanks and regards,

anand.



Learning

 2 Replies

Adv Rohit Dalmia 9324538481 (Lawyer)     23 September 2012

Dear Anand,

 

Since the society is formed therefore builder noc is not required. the society needs to ask the builder in writing to transfer the conveyance of the land in the name of society.

 

since the conveyance is not done in the name of the society. therefore, the soicety is the owner of the building only and the builder is the owner of the land.

 

you may inform the bank that the registered society has been formed  and they had given noc to you. therefore, noc from the builder is not required.

 

Regards,

Advocate Rohit Dalmia

9324538481

anandkumar.n (DGM)     23 September 2012

Dear Rohit,

THANKS for your input bringing in clarity between sale and conveyance deed.

But one point is not clear.

On one side ,you hv mentioned that Builder is the owner of the land till conveyance deed is made (IS THAT NOT THE REASON BANK IS DEMENDING NOC FROM BUILDER) and other side NOC from buider is not reqd./

Pl recomment ,why you say NOC from builder is not reqd.(I hv to put up the same point to bank /

Thanks and regards,

Anand.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register