No Objection Certificate for Bank Loan

In accordance with the society bye-laws no member of the Society shall assign, mortgage or create any charge on his occupancy right in the flat without the previous permission in writing of the Society / RWA. Therefore, it is important to obtain the society NOC for availing bank loan. Though each bank may have the different format of NOC which they would like your society / RWA to issue considering the type of loan you wish to avail, however some of the standard clauses may remain same.

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Name

Email Address

Mobile Number

Letter Content

<h3 style="text-align:center">{SOCIETY_NAME}</h3>
<p style="text-align:center">
REGN. NO: {SOCIETY_REGISTRATION_NUMBER}<br />
{ADDRESS LINE 1}<br />
{ADDRESS LINE 2}
</p>

<div style="text-align: right;">Date:{LETTER_DATE}</div>

<p><br />
To {AUTHORISED_NAME},<br />
{BANK_NAME},<br />
{BANK_ADDRESS}</p>

<h4>Subject : NOC for Bank Loan</h4>

<p><br />
We,{SOCIETY_NAME}, hereby certify that:</p>

<ol>
 <li>{FLAT_NUMBER} in {ADDRESS LINE 1},{ADDRESS LINE 2} has been allotted to {OWNER_NAME}</li>
 <li>We hereby state and confirm that the building plan sanctioned under commencement certificate no {CC_NUMBER} dated {CC_DATE} shall not be altered / changed without the priory written consent of the flat purchaser.</li>
 <li>That the total cost of the said flat as per the available sale agreement is Rs.{FLAT_COST}</li>
 <li>That title to the said land and the building thereon is clear, marketable and free from all encumbrances and doubts.</li>
 <li>We have not borrowed from any financial institution for purchase of land or construction of building and have not created and will not create any encumbrances on the flat allotted to them during the currency of the loan sanctioned / to be sanctioned by the Bank to them.</li>
 {EXTRA_POINTS}
</ol>

<p>We further stake and undertake to record the charge of the bank on the said flat in our register and further agree to inform and give proper notice to the Co-operative Housing Society or an Association of Apartment Owners as and when formed, about the said flat being mortgaged to your bank.</p>

<div class="margin-top:25px">For {SOCIETY_NAME}<br />
<br />
<br />
<br />
Hon. Secretary</div>

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