AGP (Assoc) 06 March 2013

Property with two landlord and builder jda

Hi,

I have booked a flat in Bangalore and paid 20% of total amount. The property is JDA between two landlord, say landlord A and landlord B. and builder, say Builder C.

The flat I booked belongs to landlord A (clear segregation of flats (with flat numbers) allotted to each party in JDA). Now, Bank has approved the loan but to disburse the amount bank is asking for NOC from landlord B.

Is it really needed to have NOC from landlord B even though the flat belongs to landlord A?

As its difficult to get NOC from landlord B, what are all options I am left with?

Thanks for replying.

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2 Replies

Advocate Rohit (Advocate) 06 March 2013

since the bank is providingloan therfore it wants to secure its interest in it. if it is difficukt to get the NOC from the other landlord. Then ask the bank if the Builder can give a letter that the said flat belongs to the so and so landlord will that do???

Hope bank should agree for this.

Regards,

Advocate Rohit Dalmia

9324538481

Mumbai

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AGP (Assoc) 09 March 2013

Thanks for the reply. Actually, the builder is GPA holder of said flat of landloard A.

Looks like bank is not ready without NOC :(

WIll it be a legal transaction (without NOC of landloard B)?

Would changing to another bank help?

Thanks.