Hello,
I have purchased a flat and waiting for loan from HDFC bank and they are asking for NOC from either society or from the builder. The builder is asking for 2 lacs for NOC. I was told by the seller that a meeting has been scheduled by the members of the building to form a society. A registrar will be appointed and the NOC issued by the registrar on behalf of the society will suffice for the loan.
My question here is :
1) Will the NOC from the registrar suffice and will there be any problems in future if the NOC is issued by the registrar?
2) How much time will it take to form a society in this case?
3) in whose name will a share certificate be issued? In my name or the sellers name?
4) Is there any alternative for getting a loan without the NOC from builder?
