33 - No Objection Certificate- Bank Loan & Other Authority

Posted by Admin on December, 21, 2023

When you are buying a new home or taking a loan from the bank, you will need a No Objection Certificate (NOC). The NOC may be required from individuals related to the property to whom rights have been granted, or from the bank that has an existing loan on the property. Additionally, you may need an NOC from relevant government offices associated with the property, especially if there are outstanding dues or certain rights involved (such as NMC, NIT, Metro, MIDC, airport, railway, etc.).

It is also possible that you might need permission from the society when purchasing a home. All these aspects should be clarified with the property seller before making the purchase.

Without obtaining NOCs, you might face significant delays and obstacles. The NOC process can be lengthy and complex, especially if the property is old or has multiple owners.

Stay tuned with us for the understanding of the 18 checklist points ahead, and follow the guidelines of 11SquareFeet! If you find the video helpful, please do share it, and save it for future reference to avoid potential losses when buying property.

This entry was posted on December, 21, 2023 at 16 : 53 pm and is filed under 51 Checklist Point. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response from your own site.

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