Please advise whether collector NOC is mandatory for purchase of property which was developed on Leasehold land with collector permission. Further property purchases is already registered by registrar. Bank is asking for collector noc for processing the loan. Pls advise whether it is mandatory. if yes where can i get and how much it takes.
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It is necessary to peruse terms of lease
if lease deed mentions prior permission of collector is necessary for further transactions in respect of property you would need to obtain collector permission
3) apply to collector for permission to purchase lease hold land
Follow up question is Original Property was developed by Builder with prior approval of Collector order. As per order, it was mentioned collector has no objection for transfer of unit/flats in favour of co-operative socierty. Purchase transaction by me is already registered by registrar and no NOC from collector was asked. Bank is asking for NOC to disburse the loan. Pls advise if it is required, and where i can get it if required and timeline to obtain the same. whether your firm provide these services, as i am based out of India and time is important to close the deal.
You don’t need NOC for purchase of flats
2) sale deed is registered in your name
3) you need to contact local lawyer for applying of permission to collector
When the property is developed on land leased land by Collector, his permission is necessary for any transaction on land. Construction goes with land and not land with construction on it. You need to submit an application to Collector, you may have to pay government market value for obtaining permission.
If is developed by collector order then it's not necessary now
Dear Client,
As per the facts which have been provided, you need to contact local lawyer for applying of permission to collector.
Hope this clarifies your query and requirement.
Thank You.
Collector’s properties are generally given out on leasehold basis which spans for 99 years. Since they are leasehold properties, the occupants of such properties are known as Class II occupants. The rights of such occupants are limited as Class I occupants who own freehold properties.
If the owner wants to rent, lease, and gift or sell the property, they need permission from the collector. If the property is to be sold, then the owner needs to pay transfer fees to the collector.
If proper permission was not taken from the collector, then it can lead to issues in transferring the property. The registrar’s office has temporarily stopped registering properties built on collector’s land to end the practice of not taking collector’s permission beforehand.
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you will have to check the original lease granted by the collector
for every sale of flat in the building, collector noc may be required, if such a requirement is there in the lease deed and a transfer premium would have to be paid to the collector
you have not informed where the property is located
- As per law, If the owner wants to rent, lease, and gift or sell the property, then the permission from the collector is required.
- However, you should go through the lease deed for knowing the proper way for permission.
For renting, mortgaging, gifting and selling collector properties (the one which is developed on a leasehold land prior Collector’s permission), the property owners need the prior permission of the collector. Thus, if you are planning to buy the same, a NOC is must. In case, the builder already had a NOC from Collector for selling or transferring units/flats, the same is sufficient for borrowing a loan. Since there are no issues involving the legality of such properties, getting a home loan to buy collector properties is also not difficult as long as your paper work is complete. In the presence of all required approvals, getting a loan is as easy for a collector property as it is for any other property.
