Selling a redevelopment flat before the formation of a society can be a bit complex and depends on several factors, including the terms of the redevelopment agreement and local laws. Here are some key points to consider:
- Builder's NOC: Generally, a No Objection Certificate (NOC) from the builder is required to sell a redevelopment flat before the society is formed. This is because the builder holds certain rights and responsibilities until the society is officially registered.
- Agreement Terms: Review the redevelopment agreement carefully. It should outline the conditions under which the flat can be sold and whether the builder's NOC is necessary.
- Legal Requirements: In some cases, local laws may require additional permissions or documentation for the sale of a redevelopment flat before society formation. It's essential to consult a legal expert to ensure compliance with all legal requirements.
- Buyer's Financing: If the buyer needs a home loan, the lender may require a builder's NOC as part of the loan approval process.
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Can a Redevelopment Flat be Sold before Society Formation? Does the Builder have NOC?
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2025-02-19T11:41:18+00:00 2025-02-19T11:42:25+00:00Comment
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