Noc for loan against property

Davinder Singh (Querist) 19 November 2015 This query is : Resolved
Do I need to pay for NOC to builder for loan against property

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R.K Nanda

(Expert) 20 November 2015
state full facts.

Rajendra K Goyal (Expert) 21 November 2015
State clear and full facts.

Davinder Singh (Querist) 23 November 2015
My grandfather and builder have an agreement for the redevelopment of the property to flat. we got the OC & CC and procession as well but not the procession letter yet. no Society is formed yet.

now the query is my grandfather gifted the flat to me in which the builder is asking for 3 lakhs as a transfer fee. I haven't paid the amount and registered the gift deed.

now I want a mortgage loan for which I need NOC from the builder. Again builder is not issuing the NOC and asking for the money.

how should I takel the builder. what is the law. Normally there is no amount paid to the builder for gift and NOC for mortgage loan.

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