Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

nitin   01 November 2017

Noc from builder

I have purchased a flat and staying there from 2 years. We have been asked to builder to formed a society but he has not yet formed a co-operating housing society. I have apply for top-up loan on home loan in bank. The bank is asking me for NOC from builder or society. I am chasing builder from last 2 months regarding NOC but he is not providing me NOC. I have paid all money which are regrading property. No dues are pending from my side. What action needs to be taken if builder is not providing NOC.


Learning

 1 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     01 November 2017

As per the sale agreement and sale deed conditions, the builder is supposed to form the association or housing society within four months of sale of 60 per cent of flats. The association is then to be handed over to the owners’ association. If the builder fails to form and register a society, the residents can form the association on their own.

Formation of the association is a vital task and apartment owners or residents need to be aware of all the related laws and regulations. The onus lies on the residents to enrol themselves as members of the association or cooperative housing society to safeguard their rights and titles.

1 Like

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register