Hi, I am selling my flat and currently society is registered but society formation is still pending. So that case from whom I need to take NOC (builder/society). The buyers bank is asking for NOC. Also is this NOC is required for agreement as well. Builder is demanding 50000 RS and affidavit. Please suggest. Thanks
1) once society is registered you would need NOC from society
2) society cannot charge more than Rs 25000 from seller for transfer of flat
3)once society is registered builder has to call for an EGM for election of managing committee of the society and submit audited accounts to the society
4) wait till all the formalities are completed
I can not wait because I am paying my EMI and as per discussion with builder and society members the society formation will take 2 or more month..I have to sell as early as possible as per my flat location where hard to get buyer. Please suggest if I can argu to take less NOC fees with builder.
1) you can inform the builder that transfer charges should not be more than Rs 25000 but it is doubtful that builder will agree to reduce his charges for giving NOC
1. NOC should be obtained from the builder. NOC is required only to transfer the share certificate and not for entering into an agreement to sell.
2. The builders demand their pound of flesh before giving NOC, more so if you show urgency to sell. So you can negotiate this.
I am selling my flat and currently society is registered but society formation is still pending. So that case from whom I need to take NOC (builder/society). The buyers bank is asking for NOC. Also is this NOC is required for agreement as well. Builder is demanding 50000 RS and affidavit. Please suggest.
The builder cannot demand the amount mentioned by you. In fact in the absence of an effective society, the builder will be required to maintain the building and handover the premises to the society when it is formed at a later date. But he cannot demand this exorbitant amun without any reason. You may apply for NOC in writing to him which can be sent by registered post, let him give a reply accordingly you can initiate legal action against him.
