Mortgage of property

amrita (Querist) 13 March 2014 This query is : Resolved
sir,
i have a land in which portion of land there is petrol pump. i went to bank to give me loan against this property. they are asking me to obtain NOC from petrol corporation. can i not mortgage the rest of the land i have all the documents relating to the whole land.

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ajay sethi (Expert) 13 March 2014
if you want bank loan you have to fulfill conditions laid down by bank .

amrita (Querist) 13 March 2014
sir petrol corporation not giving the noc. i dont have any option to mortgage by land and avail loan..please suggest

Rajendra K Goyal (Expert) 13 March 2014
Have you given the land to Oil Co. on lease to install petrol pump?

If the land is not encumbered Bank should agree. contact some other Bank if the property is free from all encumbrance.

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