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Builder cheated by selling the same flat to someone without NOC
07-Dec-2023 (In Property Law)
Sir, i purchased a flat in 2010 by paying 15% money & 80% loan by bank which directly received by builder. Property is mortgage to bank and tripartite agreement signed between me, builder and Bank before loan disbursement to builder. Now i came to know that builder cheated me by selling same flat to someone else without NOC from me or Bank. Now Bank is pressuring me for EMI which i stopped to pay as flat is sold to someone else. Bank is not proceeding to seize mortgage property and in spite pressurizing me for entire loan amount. 1. In such case can i get court Stay on Home loan EMI, till decision on builder fraud case come. 2. Does bank have right to put me in court , inspite of loan property is mortgage with bank. i am quite stressful in this situation. kindly advice.
Flat owners will not need the No Objection Certificate (NOC) from builders for resale of their flats in housing projects where cooperative housing societies are yet to be formed.
The State Housing Department has come out with a notification on this issue.
This government notification is designed to put an end to financial exploitation by builders when flat owners ask for NoCs.
There are a large number of housing projects in Pune and other cities in the State where cooperative housing societies are yet to be formed.
Presently, flat owners are forced to secure the NOC from builders for reselling their flats.
There are complaints that, builders charge hefty amounts in cash from flat owners seeking NOCs.
The State Housing Department has come out with a notification on this issue.
This government notification is designed to put an end to financial exploitation by builders when flat owners ask for NoCs.
There are a large number of housing projects in Pune and other cities in the State where cooperative housing societies are yet to be formed.
Presently, flat owners are forced to secure the NOC from builders for reselling their flats.
There are complaints that, builders charge hefty amounts in cash from flat owners seeking NOCs.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
Chat
Builder is at fault in the present circumstances. The bank should also have exercised due diligence and it was the bank's responsibility as well to prevent the sale of that flat as it had mortgaged the flat with itself. you must immediately proceed against both the builder as well as the bank. you are completely innocent and have already suffered and made to suffer further by the bank which is unacceptable by any standards.
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Dear Client in that case bank may serve notice under SARFESI Act and you may get relief for part payment by Hon'ble High Court and if need more clarification contact us...
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