Legal Question in Real Estate Law in India

NOC from buider for resale

I am buying a resale property. The property is only 3 yrs old and the society is yet to be registered. My financer need NOC from builder to process loan. On approaching the builder, he is charging me Rs 100 psf!. The flat is apprx 1000 sqft. Is this a legal payment or not. Pls help me.


Asked on 6/16/09, 7:29 am

3 Answers from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

Re: NOC from buider for resale

Not legal.

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Answered on 6/18/09, 5:59 am
Rohini Kumar Tenneti R.K.1080 LEGAL SERVICES

Re: NOC from buider for resale

Since its a resale property why you went to the builder instead of the person from whom you are buying and as there are no relevant laws and rules provided,your case is between byou and the builder or whoever and if it is legal or iilegal there are no certain terms and conditions and moreover your builder's society is not registered yet.

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Answered on 6/17/09, 4:54 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: NOC from buider for resale

Since society has not been registered so far, there are no bye-laws;

your contract with the builder will be governed by the mutual terms and conditions agreed between both of you.

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Answered on 6/16/09, 9:35 am


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