Hi! Thanks for the question! Firstly - Yes, an NOC is required for the registration of flat.
Secondly - You have to check a few things like, whether the person who is selling the property has clear title and transferable rights over the property or not?(Most important). If there are certain terms and conditions thrust against the member by the society and is not in your favour, you will regret the purchase in future.
What were the terms and conditions and clauses set by the seller and purchaser( The person who is now the seller in your case) in the first place?
What are the rights and obligations of the society according to the law? You will have to dig deep down to know all that.
It would be advisable here that the transaction is risky and if possible you should refrain from dealing in here. If you still want to do that, you are advised to engage a good lawyer and clarify the above-mentioned points before making the purchase.
Section 53 A (Part Performance - Once you pay and seller plays his part, you will be stuck), of the transfer of property Act would be necessary to be read before any further steps are taken. The law even makes the purchaser responsible for checking the clear and un-encumbranced ownership of a property before buying.