NOC rights of builder

zubair shaikh (Querist) 28 February 2016 This query is : Resolved
Hi,
I want to mortgage my flat for loan purpose, the builder is demanding for 100000 Rs of NOC. Can he demand money as per law? If not then Plz reply what are the sections which he is violating.

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Hemant Agarwal (Expert) 29 February 2016
1. The NOC of Builder has no legal value, for obtaining loan, PROVIDED the Flat-Purchase agreement is duly stamp-duty paid and registered in favor of the Flat-Purchaser.

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