Existing home loan on to be redevelopment builder

Querist : Anonymous (Querist) 29 June 2022 This query is : Open
I have a home loan of Rs. 28 lac on My one BHK flat in Dombivli Since 2013. Now the building is going for redevelopment and the builder wants noc from Financial institution. I met AXIS Branch Manager, he is refusing due to security. I told him that mortgaged flats area is getting bigger in redevelopment as we are getting addl. area. We are doing indivisual aggreement. But he is refusing. Builder is telling there can be a tripartite agreement between Builder, bank and me, but Bank is telling to clear the loan which is not possible for me now. What should I do Please guide me.

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