Dinesh 25 May 2018

Regarding noc from midc

I am in the process of buying a property from a first owner who had bought the house from a builder. The plot where the apartment resides is in an Indistrial area plot (MIDC) and was leased out to the Housing FInance and Development corporation (HDFC), which in turn constructed the apartment with all due approvals. Now, eventhough i am the second owner, the loan provider is insisting that i need to get an NOC from the MIDC. The first owner anyhow did not have an NOC. Please give me your suggestions in this regard on how can i convince the bank

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Kumar Doab (FIN) 27 May 2018

'Buyer Beware' applies to property deals.

It shall be appropriate to get proper legal opinion from a very able LOCAL senior counsel of unshakable repute and integrity specializing in revenue/property/civil/DRT matters and well versed with LOCAL applicable rules/laws and having successful track record…. and worth his/her salt , before signing or making payment.

This may cost some FEE but can defend long term interest and hard earned monies.