Home loan noc banks not giving for redevelopment
Querist :
Anonymous
(Querist) 07 April 2018
This query is : Resolved
Dear Sir,
I had a home loan of Rs. 25 lac on My one BHK flat in Thane Since 2013. Now the building is going for redevelopment and the builder wants noc from Financial institution. I met LIC Branch Manager, he is refusing due to security. I told him that morgadged flats area is getting bigger in redevelopment as we are getting addl. area. We are doing indivisual aggrement. But he is refusing. Builder is telling to clear the loan which is not possible for me now. What should I do Please guide me.
Rajesh Belagali
9821114188
Dr J C Vashista
(Expert) 08 April 2018
Request the builder to repay the amount outstanding in your name qua your bank loan, if you are unable to liquidate.
Then only you can obtain NOC and original documents from bank, who have mortgaged the property documents.
Your query has been considered, opined and advised since you have mentioned your name at the end of the query otherwise "anonymous" author is not obliged by experts FREE OF COST as per rules of this platform.
