You need NOC from Bajaj finance for sale of property
2) if Bajaj has not given NOC you can’t sell the property
3) you cannot force Bajaj to give NOC
Home loan from Bajaj Finance not giving conditional NOC
Hi Team, I have recently taken home loan from Bajaj Finance. Tri party agreement is not yet completed. Property handover is completed but registration is not completed. They have sanctioned me 47Lakh home loan and additionally 12.5Lakh topup loan for interior works. Topup is provided before registration from bajaj. Now I want to resale my property in order to do that I need to provide conditional NOC from Bajaj. When i approach bajaj they keep on delaying for one month now with out giving conditional NOC. Legally how to approach this. Please assist.
Asked 4 years ago in Property Law
Religion: Christian
12 Answers
But issue is they are delaying it purposefully as they approved topup loan before registration. Also they are asking buyer to get the loan transfer internally done with in bajaj. They should not delay for a month. Usually with other banks it takes 3 days to give conditional NOC. Please suggest.
Asked 4 years ago
See you can file an application for NOC and can take endorsement on such application .
If they fail to give NOC you can file a consumer complaint against the bajaj.
Send them notice by your email id and mention all details without this you are unable to proceed with further sale deed.
You can issue legal notice to Bajaj finance to issue NOC
not necessary purchaser should take loan from
bajaj finance
Hi
You need to check the reasons for not giving the NOC.
In case if they are intentionally delaying / avoiding the same, you address a letter / notice asking for the same.
Inspite of the same, if they fail to give the NOC, you may have to approach the Consumer Forum.
Good Luck
Either send them a legal notice or move an application to their seniors through mail.
Move an application to police that they are demanding bribe to give me NOC
You need to send the notice to them ans them file a consumer complaint in court for the same
it is mandatory to obtain NOC from Bajaj Finance without NOC not possible to sale said property. Approach before Bajaj Finance Branch manager.
the home loan can be prepaid at any time without any penalty even the nbfc who has advanced to home loan cannot charge prepayment penalty as per the circular of Reserve Bank of India in case you are looking to sell out your property before the registration you can sell the property and repay your advance payment to the Bajaj Finance to close the matter and get the property register as there is no tripartite agreement between new builder and the bank so you need not to worry about the Builder builder directly transfer the property to new buyer after taking some Premium for this purpose.
Otherwise you can file a writ petition in High Court to get direction for Bajaj Finance
If you think that bajaj finance is delaying the NOC purposely then you should send them a legal notice through a lawyer.
If still they do not provide you NOC file a complaint with consumer forum against Bajaj Finance.
If the finance company is not giving NOC even after requesting them for that in writing then you may issue them a legal notice demanding the same
If they don't respond to the legal notice also then you can plan legal action.
The legal notice demanding NOC would provide you the desired relief, if not you may proceed with the legal action by approaching consumer forum.